Common use of Electronic Documents Clause in Contracts

Electronic Documents. If and to the extent that a Mortgage Note is an electronically signed document, then in lieu of delivery or endorsement of the Mortgage Note to the Trustee or Custodian, all necessary steps will be taken on the applicable Electronic Note Registry System for the Trustee to be considered in control of that Mortgage Note.

Electronic Documents. If and to the extent that a Mortgage Note is an electronically signed document, then in lieu of delivery or endorsement of the Mortgage Note to the Trustee or Custodian, all necessary steps will be taken on the applicable Electronic Note Registry System for the Trustee to be considered in control of that Mortgage Note. Any reference to an “original” document in paragraphs (a), (b), (c) and (d) of this Subsection 3.4(1) may include an electronically signed document, to the extent permitted by the Servicing Contract or the Guide and applicable law.