Common use of Electronic Contracts Clause in Contracts

Electronic Contracts. With respect to any Electronic Contract, (a) such Electronic Contract is an electronic record and the execution thereof is in compliance with the applicable provisions of the Uniform Electronic Transactions Act (as, and if, adopted by relevant jurisdiction) and the federal Electronic Signatures in Global and National Commerce Act, (b) each of the parties to such Electronic Contract agreed to conduct the transaction evidenced by such Electronic Contract by electronic means, (c) the Borrower or its electronic service provider utilizes security procedures designed to determine the Person to which such Electronic Contract and the electronic signature thereof are attributable, (d) the Borrower or its electronic service provider provides a mechanism for the prevention or correction of errors in such electronic records, (e) in the case of an Electronic Contract that constitutes Electronic Chattel Paper, such Electronic Contract reasonably satisfies clauses (a) and (b) of the Electronic Chattel Paper Conditions, (f) if converted to a tangible medium and requested by the Administrative Agent, the Authoritative Copy of such Electronic Contract has been delivered to the Administrative Agent or custodian, to hold for the benefit of the Administrative Agent and (g) in the case of an Electronic Contract that constitutes Electronic Chattel Paper, if converted from a tangible medium to an electronic medium, the merchant generating such Electronic Contract has deleted, destroyed or obliterated all paper copies and digital copies of the Authoritative Copy of the tangible contract from which such Electronic Contract has been converted or has otherwise stamped all such related tangible contract indicating it is not an Authoritative Copy (such as indicating it is a “copy”). SECTION 7

Electronic Contracts. With respect to any Electronic Contract, (a) such Electronic Contract is an electronic record and the execution thereof is in compliance with the applicable provisions of the Uniform Electronic Transactions Act (as, and if, adopted by relevant jurisdiction) and the federal Electronic Signatures in Global and National Commerce Act, (b) each of the parties to such Electronic Contract agreed to conduct the transaction evidenced by such Electronic Contract by electronic means, (c) the Borrower or its electronic service provider utilizes security procedures designed to determine the Person to which such Electronic Contract and the electronic signature thereof are attributable, (d) the Borrower or its electronic service provider provides a mechanism for the prevention or correction of errors in such electronic records, (e) in the case of an Electronic Contract that constitutes Electronic Chattel Paper, such Electronic Contract reasonably satisfies clauses (a) and (b) of the Electronic Chattel Paper Conditions, (f) if converted to a tangible medium and requested by the Administrative Agent, the Authoritative Copy of such Electronic Contract has been delivered to the Administrative Agent or custodian, to hold for the benefit of the Administrative Agent and (g) in the case of an Electronic Contract that constitutes Electronic Chattel Paper, if converted from a tangible medium to an electronic medium, the merchant generating such Electronic Contract has deleted, destroyed or obliterated all paper copies and digital copies of the Authoritative Copy of the tangible contract from which such Electronic Contract has been converted or has otherwise stamped all such related tangible contract indicating it is not an Authoritative Copy (such as indicating it is a “copy”). SECTION 7.