Common use of Electronic Transmission of Data Clause in Contracts

Electronic Transmission of Data. Lender and Borrower agree that certain data related to the Loan (including confidential information, documents, applications and reports) may be transmitted electronically, including transmission over the Internet to the parties, the parties affiliates, agents and representatives, and other Persons involved with the subject matter of this Agreement. Borrower and Lender acknowledge and agree that (i) there are risks associated with the use of electronic transmission and that Lender does not control the method of transmittal or service providers, (ii) Lender shall use reasonable efforts to protect the electronically transmitted information, and (iii) subject to Section 9.18(ii) of this Agreement, Borrower will release, hold harmless and indemnify Lender from any claim, damage or loss, including or arising in whole or part from Lender’s strict liability or sole, comparative or contributory negligence, which is related to the electronic transmission of data.

Electronic Transmission of Data. Lender and Borrower agree that certain data related to the Loan (including confidential information, documents, applications and reports) may be transmitted electronically, including transmission over the Internet internet to the parties, the parties parties’ affiliates, agents and representatives, and other Persons involved with the subject matter of this Agreement. Borrower acknowledges and Lender acknowledge and agree agrees that (ia) there are risks associated with the use of electronic transmission and that Lender does not control the method of transmittal or of service providers, (iib) Lender shall use reasonable efforts to protect has no obligation or responsibility whatsoever and assumes no duty or obligation for the electronically transmitted informationsecurity, receipt or third party interception of any such transmission, and (iiic) subject to Section 9.18(ii) of this Agreement, Borrower will release, hold harmless and indemnify Lender from any claim, damage or loss, including or that arising in whole or part from Lender’s strict liability or sole, comparative or contributory negligence, which is related to the electronic transmission of data.