Data Provided by Participant Clause Samples
The 'Data Provided by Participant' clause defines the responsibilities and conditions under which a participant supplies data to another party, typically within the context of a contract or agreement. This clause outlines what types of data must be provided, the format or standards for submission, and any deadlines or ongoing obligations for data delivery. For example, a participant may be required to submit usage statistics, technical information, or personal data relevant to the agreement. Its core practical function is to ensure that all necessary data is made available in a timely and organized manner, thereby supporting the smooth execution of the agreement and reducing the risk of misunderstandings or incomplete information.
Data Provided by Participant. Participant accepts sole responsibility (i) for the accuracy and adequacy of data entered into the System or Services by Participant or any other Person using Participant’s Access Methods, and for all results obtained from use of the System or Services by Participant or any other Person using Participant’s Access Methods; (ii) for implementing procedures external to the System or Services for reconstruction of data for purposes of re-entry in the event of a System or Services malfunction; and (iii) for implementation procedures external to the System or Services to enable Participant to comply with the Audit Trail requirements set out in the Rules. In the event Participant becomes aware of an error in Transaction data provided to Nodal or in any entry submitted through the System or Services by or on behalf of Participant, Participant shall promptly so notify Nodal; provided, however, that Participant shall be responsible for any such erroneous data or entry unless Nodal notifies Participant otherwise.