Common use of Disaster Recovery Facilities Clause in Contracts

Disaster Recovery Facilities. 20.1 Every participant shall maintain appropriate backup and disaster recovery facilities to resume the processing of payments and securities settlements within two hours of any event that hinders its ability to send or receive payments or securities settlements instructions to or from MEPS+.

Disaster Recovery Facilities. 20.1 Every participant shall maintain appropriate backup and disaster recovery facilities to resume the processing of payments and securities settlements within two hours of any event that hinders its ability to send or receive payments or securities settlements instructions to or from MEPS+.. 20.2 Where any event that hinders the ability of a participant to send or receive payments or securities settlement instructions to or from MEPS+ occurs, the participant shall: (a) inform the Service Provider of that event, including the recovery of operations and activation of manual backup procedures (if any);