Common use of Credit Reports and Other Information Clause in Contracts

Credit Reports and Other Information. 10.1 From time to time, Provider may obtain credit and other information on Merchant, owners of Merchant and officers of Xxxxxxxx, from others (such as customers and suppliers of Merchant, lenders and credit reporting agencies), and furnish information on Merchant's relationship with Provider and Provider's experience with Merchant to others seeking the information. 10.2 Merchant will provide Provider with updated business and financial information concerning Merchant, including financial statements, tax returns, evidence of required licenses and other information and documents Provider may request from time to time. All material marked “confidential” which Provider receives from Merchant will be used only by Provider or Card Network in performing the Services under this Agreement or related services and reporting, or as necessary to comply with any requirements of applicable law or of a Card Network or of any state or federal governmental agency with supervisory authority over Merchant Bank. At any time, Provider, any Card Network or any other entity having authority has the right to audit Xxxxxxxx's records relating to this Agreement. Xxxxxxxx understands and agrees that if at the time of signing this Merchant Agreement Xxxxxxxx is undergoing a forensic investigation; Xxxxxxxx must notify Provider and must fully cooperate with the investigation until it is completed. 10.3 Federal regulations enacted pursuant to the USA PATRIOT Act and other applicable laws require financial institutions to verify the identity of every person who seeks to open an account with a financial institution. As a result of Merchant's status as an account holder with Merchant Bank, Merchant shall provide documentary verification of Merchant's identity, such as a driver's license or passport for an individual and certified copy of organization documents for an entity in manner acceptable to Provider. Provider reserves the right to verify Xxxxxxxx's identity through other non- documentary methods as Provider deems appropriate in its sole discretion. Provider may retain a copy of any document it obtains to verify Merchant's identity with the financial institution.

Credit Reports and Other Information. 10.1 From time to time, Provider may obtain credit and other information on Merchant, owners of Merchant and officers of XxxxxxxxMerchant, from others (such as customers and suppliers of Merchant, lenders and credit reporting agencies), and furnish information on Merchant's relationship with Provider and Provider's experience with Merchant to others seeking the information. 10.2 Merchant will provide Provider with updated business and financial information concerning Merchant, including financial statements, tax returns, evidence of required licenses and other information and documents Provider may request from time to time. All material marked “confidential” which Provider receives from Merchant will be used only by Provider or Card Network in performing the Services under this Agreement or related services and reporting, or as necessary to comply with any requirements of applicable law or of a Card Network or of any state or federal governmental agency with supervisory authority over Merchant Bank. At any time, Provider, any Card Network or any other entity having authority has the right to audit XxxxxxxxMerchant's records relating to this Agreement. Xxxxxxxx Merchant understands and agrees that if at the time of signing this Merchant Agreement Xxxxxxxx Merchant is undergoing a forensic investigation; Xxxxxxxx Merchant must notify Provider and must fully cooperate with the investigation until it is completed. 10.3 Federal regulations enacted pursuant to the USA PATRIOT Act and other applicable laws require financial institutions to verify the identity of every person who seeks to open an account with a financial institution. As a result of Merchant's status as an account holder with Merchant Bank, Merchant shall provide documentary verification of Merchant's identity, such as a driver's license or passport for an individual and certified copy of organization documents for an entity in manner acceptable to Provider. Provider reserves the right to verify XxxxxxxxMerchant's identity through other non- documentary methods as Provider deems appropriate in its sole discretion. Provider may retain a copy of any document it obtains to verify Merchant's identity with the financial institution.