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Common use of Maintenance of Computer Systems Clause in Contracts

Maintenance of Computer Systems. The Seller shall maintain its computer systems so that, from and after the time of sale to the Purchaser of the Linc Receivables hereunder, the Seller's master computer records (including any back-up archives) that refer to a Linc Receivable shall indicate clearly the interest of the Purchaser in such Linc Receivable and that such Linc Receivable is owned by the Purchaser. Indication of the Purchaser's ownership of a Linc Receivable shall be deleted from or modified on the Seller's computer systems when, and only when, the Linc Receivable shall have been paid in full or repurchased.

Appears in 5 contracts

Samples: Receivables Purchase Agreement (Consumer Portfolio Services Inc), Assignment (Consumer Portfolio Services Inc), Link Purchase Agreement (Consumer Portfolio Services Inc)