Common use of Authority to Perform Certain Acts Clause in Contracts

Authority to Perform Certain Acts. a. Agency regulations describe the authorities and responsibilities for lenders. In addition, PLP lenders will process and service loans as described in their application for PLP status approved by the Agency. This application is described in the Credit Management System attached to this agreement. The lender further agrees to inform the Agency and obtain approval on changes to any policy or process described in the application for PLP status. b. Lenders participating in electronic data interchange (EDI) with the Agency shall designate a Security Administrator to access the Agency's Guaranteed Loan System (GLS). The lender's Security Administrator will be certified to delegate access to other lender employees. The Security Administrator and all other lender employees who access must have completed the Agency's login requirements by obtaining an eAuthentication account with Level 2 Access. The lender agrees to immediately notify the Agency of such employees who have met these requirements and when any such employees terminate employment . The lender also agrees to notify the Agency in the event of any loss, theft or unauthorized disclosure or use of any user identification number or password. Individual user identification number and passwords may not be transferred between employees. The lender will ensure that all supporting documentation required by the Agency be submitted to the appropriate offices, in a timely and accurate manner. All forms of data transmitted through EDI are considered received on the date they are submitted. If, in the Agency's judgment, standard business cannot be conducted by XXX, the Agency will, at its discretion and upon notice to the lender, return to paper-based systems.

Authority to Perform Certain Acts. a. Agency regulations describe the authorities and responsibilities for lenders. In addition, PLP lenders will process and service loans as described in their application for PLP status approved by the Agency. This application is described in the Credit Management System attached to this agreement. The lender further agrees to inform the Agency and obtain approval on changes to any policy or process described in the application for PLP status. b. Lenders participating in electronic data interchange (EDI) with the Agency shall designate a Security Administrator to access the Agency's Guaranteed Loan System (GLS). The lender's Security Administrator will be certified to delegate access to other lender employees. The Security Administrator and all other lender employees who access must have completed the Agency's login requirements by obtaining an eAuthentication account with Level 2 Access. The lender agrees to immediately notify the Agency of such employees who have met these requirements and when any such employees terminate employment . The lender also agrees to notify the Agency in the event of any loss, theft or unauthorized disclosure or use of any user identification number or password. Individual user identification number and passwords may not be transferred between employees. The lender will ensure that all supporting documentation required by the Agency be submitted to the appropriate offices, in a timely and accurate manner. All forms of data transmitted through EDI are considered received on the date they are submitted. If, in the Agency's judgment, standard business cannot be conducted by XXXEDI, the Agency will, at its discretion and upon notice to the lender, return to paper-based systems.

Authority to Perform Certain Acts. a. Agency regulations describe the authorities and responsibilities for lenders. In addition, PLP lenders will process and service loans as described in their application for PLP status approved by the Agency. This application is described in the Credit Management System attached to this agreement. The lender further agrees to inform the Agency and obtain approval on changes to any policy or process described in the application for PLP status. . b. Lenders participating in electronic data interchange (EDI) submission with the Agency shall designate a Security Administrator to access the Agency's Guaranteed Loan System (GLS). The lender's Security Administrator will be certified to delegate access to other lender employees. The Security Administrator and all other lender employees who access must have completed the Agency's login requirements by obtaining an eAuthentication account with Level 2 Access. The lender agrees to immediately notify the Agency of such employees who have met these requirements and when any such employees terminate employment employment. The lender also agrees to notify the Agency in the event of any loss, theft or unauthorized disclosure or use of any user identification number or password. Individual user identification number and passwords may not be transferred between employees. The lender will ensure that all supporting documentation required by the Agency be submitted to the appropriate offices, in a timely and accurate manner. All forms of data transmitted through EDI electronic data submission are considered received on the date they are submitted. If, in the Agency's judgment, standard business cannot be conducted by XXXelectronic data submission, the Agency will, at its discretion and upon notice to the lender, return to paper-based systems.

Authority to Perform Certain Acts. a. Agency regulations describe the authorities and responsibilities for lenders. In addition, PLP lenders will process and service loans as described in their application for PLP status approved by the Agency. This application is described in the Credit Management System attached to this agreement. The lender further agrees to inform the Agency and obtain approval on changes to any policy or process described in the application for PLP status. b. Lenders participating in electronic data interchange (EDI) submission with the Agency shall designate a Security Administrator to access the Agency's Guaranteed Loan System (GLS). The lender's Security Administrator will be certified to delegate access to other lender employees. The Security Administrator and all other lender employees who access must have completed the Agency's login requirements by obtaining an eAuthentication account with Level 2 Access. The lender agrees to immediately notify the Agency of such employees who have met these requirements and when any such employees terminate employment employment. The lender also agrees to notify the Agency in the event of any loss, theft or unauthorized disclosure or use of any user identification number or password. Individual user identification number and passwords may not be transferred between employees. The lender will ensure that all supporting documentation required by the Agency be submitted to the appropriate offices, in a timely and accurate manner. All forms of data transmitted through EDI electronic data submission are considered received on the date they are submitted. If, in the Agency's judgment, standard business cannot be conducted by XXXelectronic data submission, the Agency will, at its discretion and upon notice to the lender, return to paper-based systems.

Authority to Perform Certain Acts. a. Agency regulations describe the authorities and responsibilities for lenders. In addition, PLP lenders will process and service loans as described in their application for PLP status approved by the Agency. This application is described in the Credit Management System attached to this agreement. The lender further agrees to inform the Agency and obtain approval on changes to any policy or process described in the application for PLP status. b. Lenders participating in electronic data interchange (EDI) submission with the Agency shall designate a Security Administrator to access the Agency's Guaranteed Loan System (GLS). The lender's Security Administrator will be certified to delegate access to other lender employees. The Security Administrator and all other lender employees who access must have completed the Agency's login requirements by obtaining an eAuthentication account with Level 2 Access. The lender agrees to immediately notify the Agency of such employees who have met these requirements and when any such employees terminate employment . The lender also agrees to notify the Agency in the event of any loss, theft or unauthorized disclosure or use of any user identification number or password. Individual user identification number and passwords may not be transferred between employees. The lender will ensure that all supporting documentation required by the Agency be submitted to the appropriate offices, in a timely and accurate manner. All forms of data transmitted through EDI electronic data submission are considered received on the date they are submitted. If, in the Agency's judgment, standard business cannot be conducted by XXXelectronic data submission, the Agency will, at its discretion and upon notice to the lender, return to paper-based systems.