Common use of Execution of the Agreement Clause in Contracts

Execution of the Agreement. The Parties acknowledge and agree that this Agreement can be executed by means of electronic signature or by signing in wet ink. The Parties recognize the use of simple electronic signatures (e.g. DocuSign) as legally valid and binding for entering into agreements and agree that electronic signatures and wet-ink signatures shall have the same value as a traditional handwritten paper signature. The SPONSOR will initiate the signature process and send an electronic document (such as a PDF document) of such signed document to the other Party, to allow the other Party to execute the Agreement respectively with e-signature and/or a wet-ink signature. Electronically executed or electronically transmitted signatures shall have the full force and effect of original signatures.