Common use of Electronic System Clause in Contracts

Electronic System. The Borrower and the Administrative Agent agree that the Collateral Custodian shall not be liable hereunder for any actions of the E-Vault Provider, for the solvency of the E-Vault Provider, for any failure of the E-Vault Provider to comply with the rules, terms and conditions governing the Collateral Custodian’s use of the E-Vault Provider’s Electronic System or for any failure of the E-Vault Provider’s Electronic System.