Common use of CURRENT UPDATE Clause in Contracts

CURRENT UPDATE. Agent acknowledges that the SmartCard has an update and that this code expires at regular intervals determined by the MLS prohibiting further use of the SmartCard until a new update is obtained from the MLS by placing the SmartCard in an MLS Card Reader or by other authorized method. Update will only be issued to an Agent in good standing with the MLS.

CURRENT UPDATE. Agent acknowledges that the SmartCard Smart Card has an update and that this code expires at regular intervals determined by the MLS prohibiting further use of the SmartCard Smart Card until a new update is obtained from the MLS by placing the SmartCard Smart Card in an MLS Card Reader or by other authorized method. Update will only be issued to an Agent in good standing with the MLS.