Disaster Recovery. (a) DTI shall provide back-up facilities ("Back-Up Facilities") to the primary operations and data centers used by DTI to provide the Services ("Primary Facilities") that are capable of providing the Services in the event an incident to the Primary Facilities significantly interrupts the delivery of a significant Service. The Back-up Facilities will have no other function that could not be suspended immediately for an indefinite period of time if necessary to allow, or continue to be supported while allowing, the Back-up Facilities to function as back-up facilities for interrupted Services in accordance with DTI's Business Continuity Plan (as defined below). DTI will provide disaster recovery services in accordance with its Business Continuity Plan following the declaration of a "Disaster", which is hereby defined to mean any event that significantly interrupts the delivery of significant Services from Primary Facilities. The Funds shall not bear the costs related to such transfer. Once the Primary Facilities have recovered, they shall again be used to provide the Services herein with no loss of time and at no additional cost to the Funds. (b) DTI shall demonstrate its ability to effect a transfer to, and provide adequate services from, Back-up Facilities by developing, maintaining and testing a business continuity plan containing disaster recovery procedures for its data centers and operations facilities, including without limitation the Lion Software ("Business Continuity Plan"). DTI's Business Continuity Plan will meet the following minimum requirements: (i) data shall be backed up to alternate sites so that no loss of data can occur, and (ii) DTI's Business Continuity Plan will meet or exceed the business continuity plan requirements set forth in the policies of BNYM Corporation. An executive summary of the Business Continuity Plan, as the Business Continuity Plan was constituted on the Effective Date, shall be delivered to the Funds by the Effective Date. DTI shall annually provide the Funds with an executive summary in written form of the Business Continuity Plan, updated as necessary to incorporate into the executive summary, as of the date provided, summaries of any changes to the Business Continuity Plan since the Effective Date, or the date of the last executive summary of the Business Continuity Plan provided to the Funds, as the case may be (posting on a website of DTI or its Affiliate shall be deemed to satisfy this requirement). The Business Continuity Plan will be available at DTI for review in accordance with the policies of BNYM Corporation. At least once each calendar year, DTI shall test the Business Continuity Plan. (c) DTI will provide the Funds with executive summaries of all internal tests of the Business Continuity Plan that will include the date of the test, the scope of the test and whether it was a success or not a success. All tests will follow standardized test scripts that will be reviewed by a centralized group of BNYM Corporation for completeness ("BCP Test Group"). All critical issues resulting from the tests will be tracked by the BCP Test Group and remain a priority for DTI (and the associated technology service teams of BNYM Corporation, if applicable) until remediated. If any of the critical issues are a hindrance to providing critical services to the Funds, the Funds will be so advised.
Appears in 33 contracts
Samples: Transfer Agency Agreement (Dreyfus Institutional Liquidity Funds), Transfer Agency Agreement (BNY Mellon Absolute Insight Funds, Inc.), Transfer Agency Agreement (Dreyfus BNY Mellon Funds, Inc.)
Disaster Recovery. (a) DTI 14.1 Throughout the Term, Co-Transfer Agent represents, warrants and agrees that it has and shall provide back-up facilities ("Back-Up Facilities") to the primary operations maintain in effect with appropriate parties one or more agreements making reasonable provisions for periodic backup of computer files and data centers used by DTI with respect to provide the Services ("Primary Facilities") that are capable a Fund and emergency use of providing the Services in electronic data processing equipment. In the event an incident to the Primary Facilities significantly interrupts the delivery of a significant Service. The Backequipment failures, Co-up Facilities will have no other function that could not be suspended immediately for an indefinite period of time if necessary to allowTransfer Agent shall, or continue to be supported while allowing, the Back-up Facilities to function as back-up facilities for interrupted Services in accordance with DTI's Business Continuity Plan (as defined below). DTI will provide disaster recovery services in accordance with its Business Continuity Plan following the declaration of a "Disaster", which is hereby defined to mean any event that significantly interrupts the delivery of significant Services from Primary Facilities. The Funds shall not bear the costs related to such transfer. Once the Primary Facilities have recovered, they shall again be used to provide the Services herein with no loss of time and at no additional cost expense to a Fund, take reasonable steps to minimize service interruptions caused by equipment failure and Co-Transfer Agent shall not be liable for losses caused by such failure provided such loss or interruption is not caused by Co-Transfer Agent’s own willful misfeasance, bad faith, negligence or reckless disregard of its duties or obligations under this Agreement if the FundsCo-Transfer Agent has complied with the provisions of this Article 14.
(b) DTI shall demonstrate its ability to effect a transfer to14.2 Co-Transfer Agent represents, warrants, and provide adequate services from, Back-up Facilities by developing, maintaining and testing a business continuity plan containing disaster recovery procedures for its data centers and operations facilities, including without limitation the Lion Software ("Business Continuity Plan"). DTI's Business Continuity Plan will meet the following minimum requirements: agrees that it (i) data shall has adopted and will maintain throughout the Term of this Agreement a comprehensive business recovery plan that (A) is not less protective than the plan provided to the Funds as of the effective date of this Agreement; and (B) provides for sufficient recovery of its back office and administrative operations to enable Co-Transfer Agent, within 24 hours or such lesser period as may be backed up agreed upon in writing between the parties after any event necessitating the use of such plan to alternate sites so that no loss of data can occurfulfill its obligations hereunder, and (ii) DTI's Business Continuity Plan will meet test such business recovery plan no less frequently than annually and, upon request, any Fund may participate in such test. Co-Transfer Agent shall make a summarization of the results of such a test available to the Fund upon request. Co-Transfer Agent shall maintain, at a location other than its normal location, appropriate redundant facilities for operational back-up in the event of a power failure, disaster or exceed other interruption. Co-Transfer Agent shall back up each Fund’s records maintained by Co-Transfer Agent, and Co-Transfer Agent shall store the backup in a secure manner in a location other than its normal location, so that, in the event of a power failure, disaster or other interruption at such normal location, the records will be maintained intact and will enable Co-Transfer Agent to perform the services under this Agreement. In the event of a business interruption that materially impacts Co-Transfer Agent’s provision of services under this Agreement, Co-Transfer Agent will promptly notify the Fund of the disruption and the steps being implemented under the business continuity plan requirements set forth in the policies of BNYM Corporation. An executive summary of the Business Continuity Plan, as the Business Continuity Plan was constituted on the Effective Date, shall be delivered to the Funds by the Effective Date. DTI shall annually provide the Funds with an executive summary in written form of the Business Continuity Plan, updated as necessary to incorporate into the executive summary, as of the date provided, summaries of any changes to the Business Continuity Plan since the Effective Date, or the date of the last executive summary of the Business Continuity Plan provided to the Funds, as the case may be (posting on a website of DTI or its Affiliate shall be deemed to satisfy this requirement). The Business Continuity Plan will be available at DTI for review in accordance with the policies of BNYM Corporation. At least once each calendar year, DTI shall test the Business Continuity Planplan.
(c) DTI will provide the Funds with executive summaries of all internal tests of the Business Continuity Plan that will include the date of the test, the scope of the test and whether it was a success or not a success. All tests will follow standardized test scripts that will be reviewed by a centralized group of BNYM Corporation for completeness ("BCP Test Group"). All critical issues resulting from the tests will be tracked by the BCP Test Group and remain a priority for DTI (and the associated technology service teams of BNYM Corporation, if applicable) until remediated. If any of the critical issues are a hindrance to providing critical services to the Funds, the Funds will be so advised.
Appears in 3 contracts
Samples: Co Transfer Agency and Services Agreement (Legg Mason Partners Income Trust), Co Transfer Agency and Services Agreement (Legg Mason Partners Money Market Trust), Co Transfer Agency and Services Agreement (Legg Mason Partners Equity Trust)
Disaster Recovery. (a) DTI BNYM shall provide maintain or arrange with third parties for back-up facilities ("“Back-Up Facilities"”) to the primary operations and data centers used by DTI BNYM to provide the Services ("“Primary Facilities") that are ”). The Back-Up Facilities will be capable of providing the Services in the event an incident to the Primary Facilities significantly interrupts the delivery of a significant Service. The Back-up Facilities will have In the event of equipment failures, BNYM shall, at no other function that could not be suspended immediately for an indefinite period of time if necessary additional expense to allowthe Fund, or continue take reasonable steps to be supported while allowingminimize service interruptions, including using the Back-up Up Facilities where appropriate. For avoidance of doubt: BNYM shall have no liability with respect to function as back-up facilities for interrupted Services in accordance with DTI's Business Continuity Plan (as defined below). DTI will provide disaster recovery services in accordance with its Business Continuity Plan following the declaration of a "Disaster", which is hereby defined to mean any event that significantly interrupts the delivery of significant Services from Primary Facilities. The Funds shall not bear the costs related to such transfer. Once the Primary Facilities have recovered, they shall again be used to provide the Services herein with no loss of time and at no additional cost to data or service interruptions caused by equipment failure, provided such loss or interruption is not caused by the Fundsintentional misconduct, recklessness or negligence of BNYM in the performance of its duties under this Agreement.
(b) DTI BNYM shall demonstrate its ability to effect a transfer to, develop and provide adequate services from, Back-up Facilities by developing, maintaining and testing maintain a business continuity plan containing disaster recovery procedures for its data centers and operations facilities, including without limitation the Lion Software facilities ("“Business Continuity Plan"”). DTI's BNYM will provide business continuity and disaster recovery services in accordance with its Business Continuity Plan. BNYM’s Business Continuity Plan will meet the following at a minimum requirements: contain:
(i) data shall be backed up to alternate sites so that no loss of data can occur, Crisis management procedures for command and control during a disaster;
(ii) DTI's Emergency notification instructions;
(iii) Activation procedures including assignment of the authority to activate;
(iv) Recovery task assignments to, and provisions for, individuals or teams;
(v) Procedures and accommodations for the recovery of systems, applications and networks, and
(vi) Identification of external service providers required for recovery, including but not limited to, disaster recovery service providers, equipment maintenance, transportation, salvage and building maintenance.
(c) Annually, or upon the Fund’s reasonable request, BNYM will certify that its Business Continuity Plan will meet or exceed complies with the business continuity plan requirements set forth in provisions of this Section 8.
(d) BNYM has provided the policies of BNYM Corporation. An Funds with an executive summary of the Business Continuity Plan, Plan as the Business Continuity Plan was constituted on the Effective Date, shall be delivered to Date which sets forth in reasonable detail the Funds by characteristics of the Effective DateBusiness Continuity Plan. DTI BNYM shall annually provide the Funds Fund with an executive summary in written form of the Business Continuity Plan, updated as necessary to incorporate into the executive summary, as of the date provided, summaries of any changes to the Business Continuity Plan since the Effective Date, or the date of the last executive summary of the Business Continuity Plan provided to the FundsFund, as the case may be be.
(posting on a website of DTI or its Affiliate e) With respect to incidents causing an interruption in Services:
(i) The Fund’s termination rights shall be deemed determined in accordance with Section 13; and
(ii) Consistent with Section 11(b), Service Levels and Service Fee Credits impacted by an Event Beyond Reasonable Control shall be suspended during the pendency of the Event Beyond Reasonable Control, provided BNYM is taking commercially reasonable efforts to satisfy this requirement). The restore the Service interrupted by the Event Beyond Reasonable Control, including implementing the Business Continuity Plan when applicable in accordance with its terms. Each Service Level and Service Fee Credit suspended due to an Event Beyond Reasonable Control shall be restored upon the full restoration of the relevant interrupted Service or upon a cessation by BNYM to take commercially reasonable efforts to restore the particular interrupted Service.
(f) BNYM will review and test the Business Continuity Plan at least annually. BNYM will develop a plan to remedy any significant failures or anomalies identified during such testing and upon request shall make a summary of test results available to the Fund. BNYM shall annually provide reasonable cooperation to Customer during a test by the Fund of its disaster recovery system which occurs outside of normal business hours and on a date mutually reasonably agreed upon by the Fund and BNYM upon reasonable notice from the Fund requesting BNYM’s cooperation under this Section 8(f).
(g) In the event that the Fund (or the Fund’s investment adviser) is required to implement its business continuity and/or disaster recovery plan, BNYM shall provide all reasonable assistance to the Fund as may be requested. Except where the requirement to implement the Fund’s (or the Fund’s investment adviser’s) business continuity and/or disaster recovery plan is due to a failure by BNYM to perform its obligations under the Agreement, BNYM’s fees and expenses for providing such assistance will be available at DTI for review paid in accordance with the policies applicable terms set forth on Schedule 2 (Fees) or the Fee Agreement (as defined herein).
(h) BNYM shall promptly notify the Fund (i) in the event the Business Continuity Plan is executed for any Services or work locations supporting the Fund, or (ii) BNYM senior management becomes aware of BNYM Corporationevents or circumstances reasonably likely to cause the Business Continuity Plan to be executed. At least once each calendar yearEach party shall maintain at all times identified points of contact for the purpose of requesting information and obtaining the detailed, DTI up-to-date status of the other party’s progress and on-going actions during disasters (“Plan Contacts”). BNYM’s lead Client Service Officer for the Fund shall test be responsible for coordinating BNYM’s communication with the Fund regarding the Business Continuity Plan, including, without limitation, recovery testing and implementation of recovery procedures. Each party shall notify the Plan Contacts of the other party in writing (email shall constitute a writing for this purpose) of any changes to the Plan Contacts or any updates to their contact information.
(ci) DTI As part of any annual site visit conducted by the Funds pursuant to Section 3(a)(20) or, alternatively, annually upon request of the Funds, BNYM will provide the following documentation to the Funds with executive summaries of all internal tests of to evidence compliance by the Business Continuity Plan that will include with the date requirements of this Agreement: (a) a written summary schedule of Business Continuity Testing Events (as defined immediately below); (b) a written summary of testing exercise results, including identification of any significant challenges experienced in the testing and actions taken or planned to address such challenges; and (c) a written summary of any material changes to the Business Continuity Plan or related procedures reasonably expected to be implemented during the year following the site visit. “Business Continuity Testing Events” means an annual call tree test, the scope of the annual alternate site recovery and quarterly application test and whether it was a success or not a success. All tests will follow standardized test scripts that will be reviewed by a centralized group of BNYM Corporation for completeness ("BCP Test Group"). All critical issues resulting from the tests will be tracked by the BCP Test Group and remain a priority for DTI (and the associated technology service teams of BNYM Corporation, if applicable) until remediated. If any of the critical issues are a hindrance to providing critical services to the Funds, the Funds will be so advisedrecovery objective.
Appears in 2 contracts
Samples: Transfer Agency and Shareholder Services Agreement (BlackRock Multi-Sector Opportunities Trust II), Transfer Agency and Shareholder Services Agreement (BlackRock Series Fund, Inc.)
Disaster Recovery. Servicer acknowledges and agrees that Lender is required by Regulatory Agencies having jurisdiction over Lender to assure that its vendors have in place adequate disaster recovery plans to assure the safety, soundness, and continuity of certain Essential Daily Functions, as determined by Lender in its discretion. If Servicer is providing services critical to any such Essential Daily Functions, then Servicer represents and warrants that Servicer will have in place and will provide to Lender upon Lender’s reasonable request, or any time a material change is made to, but in no event not less than annually, a copy of Servicer’s disaster recovery plan that conforms to Industry Practices. Servicer’s disaster recovery plan shall:
(i) address functions and operations of the services used by Lender; (ii) specify recovery time frames for functions and operations used by Lender; (iii) provide that the disaster recovery plan shall be tested and updated in accordance with Industry Practices; and (iv) provide that the disaster recovery plan be regularly updated to the extent necessary to correct deficiencies therewith or to remain consistent with Industry Practices, at Servicer’s cost. Servicer will (a) DTI provide to Lender all applicable results of tests performed on the operability of the disaster recovery services within thirty (30) days following the completion of such tests, (b) allow Lender to passively participate (at its own expense) in such testing to a reasonable extent and in a manner that does not unreasonably interfere with Servicer’s operations, the operations of other Servicer customers, or Servicer’s ability to conduct such tests, and (c) promptly provide Lender with a notice of a disaster and the expected extent to which such disaster will impact the delivery of the services. Servicer shall provide back-up facilities ("Back-Up Facilities") use its best efforts to resume performance under this Origination Agreement as soon as possible after any disaster or other material interruption of Servicer’s business; provided, that no such disaster, casualty, or other contingency shall operate to limit, diminish, abrogate, or delay the primary operations and data centers used by DTI to provide the Services ("Primary Facilities") that are capable exercise of providing the Services any rights or remedies of Lender in the event an incident to the Primary Facilities significantly interrupts the delivery of a significant Service. The Back-up Facilities will have no other function that could not be suspended immediately for an indefinite period of time if necessary to allow, or continue to be supported while allowing, the Back-up Facilities to function as back-up facilities for interrupted Services in accordance with DTI's Business Continuity Plan (as defined below). DTI will provide disaster recovery services in accordance with its Business Continuity Plan following the declaration of a "Disaster", which is hereby defined to mean any event that significantly interrupts the delivery of significant Services from Primary Facilities. The Funds shall not bear the costs related to such transfer. Once the Primary Facilities have recovered, they shall again be used to provide the Services herein with no loss of time and at no additional cost to the Funds.
(b) DTI shall demonstrate its ability to effect a transfer to, and provide adequate services from, Back-up Facilities by developing, maintaining and testing a business continuity plan containing disaster recovery procedures for its data centers and operations facilities, including without limitation the Lion Software ("Business Continuity Plan"). DTI's Business Continuity Plan will meet the following minimum requirements: (i) data shall be backed up to alternate sites so that no loss of data can occur, and (ii) DTI's Business Continuity Plan will meet or exceed the business continuity plan requirements set forth in the policies of BNYM Corporation. An executive summary of the Business Continuity Plan, as the Business Continuity Plan was constituted on the Effective Date, shall be delivered to the Funds by the Effective Date. DTI shall annually provide the Funds with an executive summary in written form of the Business Continuity Plan, updated as necessary to incorporate into the executive summary, as of the date provided, summaries of any changes failure of Servicer to the Business Continuity Plan since the Effective Date, or the date of the last executive summary of the Business Continuity Plan provided to the Funds, as the case may be (posting on a website of DTI or its Affiliate shall be deemed to satisfy perform this requirement). The Business Continuity Plan will be available at DTI for review Origination Agreement in accordance with the policies of BNYM Corporationterms, provisions, and conditions hereof. At least once Servicer will review any comments and suggestions presented by Lender with respect to Servicer’s disaster recovery plan and take commercially reasonable steps to implement such comments and suggestions. Upon Lender’s request, Servicer will also (A) review Lender’s disaster recovery plan, (B) prepare recovery procedures for each calendar year, DTI shall test the Business Continuity Plan.
(c) DTI will provide the Funds with executive summaries of all internal tests of the Business Continuity Plan that will include the date of the test, the scope of the test and whether it was a success or not a success. All tests will follow standardized test scripts service that will be reviewed by a centralized group recovered (if such procedures are not already part of BNYM Corporation for completeness Lender’s disaster recovery plan) and ("BCP Test Group"). All critical issues resulting from the tests will be tracked by the BCP Test Group and remain a priority for DTI (and the associated technology service teams of BNYM CorporationC) at Lender’s request, if applicable) until remediated. If any of the critical issues are a hindrance to providing critical services to the Funds, the Funds will be so advisedparticipate in Lender’s recovery tests.
Appears in 1 contract
Disaster Recovery. (a) DTI shall provide back-up facilities ("Back-Up Facilities") to the primary operations and data centers used by DTI to provide the Services ("Primary Facilities") that are capable of providing the Services in the event an incident to the Primary Facilities significantly interrupts the delivery of a significant Service. The Back-up Facilities will have no other function that could not be suspended immediately for an indefinite period of time if necessary to allow, or continue to be supported while allowing, the Back-up Facilities to function as back-up facilities for interrupted Services in accordance with DTI's Business Continuity Plan (as defined below). DTI will provide disaster recovery services in accordance with its Business Continuity Plan following the declaration of a "Disaster", which is hereby defined to mean any event that significantly interrupts the delivery of significant Services from Primary Facilities. The Funds shall not bear the costs related to such transfer. Once the Primary Facilities have recovered, they shall again be used to provide the Services herein with no loss of time and at no additional cost to the Funds.
(b) DTI shall demonstrate its ability to effect a transfer to, and provide adequate services from, Back-up Facilities by developing, maintaining and testing a business continuity plan containing disaster recovery procedures for its data centers and operations facilities, including without limitation the Lion Software ("Business Continuity Plan"). DTI's Business Continuity Plan will meet the following minimum requirements: (i) data shall be backed up to alternate sites so that no loss of data can occur, and (ii) DTI's Business Continuity Plan will meet or exceed the business continuity plan requirements set forth in the policies of BNYM Corporation. An executive summary of the Business Continuity Plan, as the Business Continuity Plan was constituted on the Effective Date, shall be delivered to the Funds by the Effective Date. DTI shall annually provide the Funds with an executive summary in written form of the Business Continuity Plan, updated as necessary to incorporate into the executive summary, as of the date provided, summaries of any changes to the Business Continuity Plan since the Effective Date, or the date of the last executive summary of the Business Continuity Plan provided to the Funds, as the case may be (posting on a website of DTI or its Affiliate shall be deemed to satisfy this requirement). The Business Continuity Plan will be available at DTI for review in accordance with the policies of BNYM Corporation. At least once each calendar year, DTI shall test the Business Continuity Plan.. NY 73868230v19
(c) DTI will provide the Funds with executive summaries of all internal tests of the Business Continuity Plan that will include the date of the test, the scope of the test and whether it was a success or not a success. All tests will follow standardized test scripts that will be reviewed by a centralized group of BNYM Corporation for completeness ("BCP Test Group"). All critical issues resulting from the tests will be tracked by the BCP Test Group and remain a priority for DTI (and the associated technology service teams of BNYM Corporation, if applicable) until remediated. If any of the critical issues are a hindrance to providing critical services to the Funds, the Funds will be so advised.
Appears in 1 contract
Samples: Transfer Agency Agreement (Dreyfus Basic Money Market Fund, Inc)
Disaster Recovery. eFunds shall take reasonable precautions to prevent and mitigate any disaster that may affect the ability of eFunds to provide the services to be performed by eFunds under this Agreement. eFunds shall maintain a documented and tested disaster recovery plan (the “DR Plan”) during the term of this Agreement. The DR Plan will: (a) DTI include the location of recovery site(s) for each eFunds location at which the services are provided and/or where Customer data is stored; (b) address business continuation, disaster recovery, and crisis management issues; (c) be designed to recover business operations as soon as reasonably practical under the circumstances after a declared disaster; and (d) provide for the ongoing testing of such DR Plan. eFunds further agrees that Customer may participate in DR Plan testing at its expense. Upon the occurrence of a declared disaster at any of the eFunds locations involved in the provision of services under this Agreement or where Customer data is stored, eFunds shall implement the DR Plan and shall notify Customer of such implementation. Following recovery of business operations, eFunds shall provide backto Customer a post-up facilities incident report that documents the implementation and efficacy of the DR Plan. At Customer’s request, eFunds will provide a summary of the DR Plan ("Back-Up Facilities"“Summary Plan”) to the primary operations and data centers used by DTI Customer. Subject to provide the Services ("Primary Facilities") that are capable of providing the Services in the event an incident Section 29(c), eFunds agrees to the Primary Facilities significantly interrupts the delivery of a significant Service. The Back-up Facilities will have no other function that could not release such additional information as may be suspended immediately for an indefinite period of time if reasonably necessary to allow, or continue allow the Customer to be supported while allowingdevelop its own disaster recovery plan to work in concert with the eFunds DR Plan. For the avoidance of doubt, the Back-up Facilities to function as back-up facilities for interrupted Services in accordance with DTI's Business Continuity Plan (as defined below). DTI will provide disaster recovery services in accordance with its Business Continuity Plan following the declaration of a "Disaster"DR Plan, which is hereby defined to mean any event that significantly interrupts the delivery of significant Services from Primary Facilities. The Funds shall not bear the costs related to such transfer. Once the Primary Facilities have recovered, they shall again be used to provide the Services herein with no loss of time and at no additional cost to the Funds.
(b) DTI shall demonstrate its ability to effect a transfer toSummary Plan, and provide adequate services from, Back-up Facilities by developing, maintaining and testing a business continuity plan containing disaster recovery procedures for its data centers and operations facilities, including without limitation the Lion Software ("Business Continuity Plan"). DTI's Business Continuity Plan will meet the following minimum requirements: (i) data shall be backed up to alternate sites so that no loss of data can occur, and (ii) DTI's Business Continuity Plan will meet or exceed the business continuity plan requirements set forth in the policies of BNYM Corporation. An executive summary of the Business Continuity Plan, as the Business Continuity Plan was constituted on the Effective Date, shall be delivered to the Funds by the Effective Date. DTI shall annually provide the Funds with an executive summary in written form of the Business Continuity Plan, updated as necessary to incorporate into the executive summary, as of the date provided, summaries of any changes to the Business Continuity Plan since the Effective Date, or the date of the last executive summary of the Business Continuity Plan information provided to the Funds, as Customer by eFunds in connection with the case may be (posting on a website of DTI DR Plan or its Affiliate Summary Plan pursuant to this section 19 shall be deemed to satisfy considered and treated as Confidential Information of eFunds under Section 29(c) of this requirement). The Business Continuity Plan will be available at DTI for review in accordance with the policies of BNYM Corporation. At least once each calendar year, DTI shall test the Business Continuity PlanAgreement.
(c) DTI will provide the Funds with executive summaries of all internal tests of the Business Continuity Plan that will include the date of the test, the scope of the test and whether it was a success or not a success. All tests will follow standardized test scripts that will be reviewed by a centralized group of BNYM Corporation for completeness ("BCP Test Group"). All critical issues resulting from the tests will be tracked by the BCP Test Group and remain a priority for DTI (and the associated technology service teams of BNYM Corporation, if applicable) until remediated. If any of the critical issues are a hindrance to providing critical services to the Funds, the Funds will be so advised.
Appears in 1 contract
Disaster Recovery. (a) DTI For as long as Administrative Services are provided hereunder, the Administrator shall, and shall provide back-up facilities ("Back-Up Facilities") cause its Affiliates to, maintain and adhere to the primary operations Disaster Recovery Plans. As part of the Administrative Services, the Administrator shall implement the Disaster Recovery Plan(s) (or, if applicable, the Closing Date DR Plans) for the continuation of the Administrative Services, including recovery of any Customer Information (as defined in Article XVII) and data centers used by DTI the Administrator’s operating environment and telecommunications infrastructure as necessary to provide the Administrative Services with no or minimal interruption or material degradation of service quality. Each Company shall be provided at least two ("Primary Facilities"2) that are capable of providing weeks’ notice of, and shall have the Services in the event an incident right to the Primary Facilities significantly interrupts the delivery of a significant Service. The Back-up Facilities will have no other function that could not be suspended immediately for an indefinite period of time if necessary to allow, or continue to be supported while allowingparticipate in, the Back-up Facilities to function as back-up facilities for interrupted Services in accordance with DTI's Business Continuity Plan Administrator’s testing of its Disaster Recovery Plan(s) (as defined belowor, if applicable, the Closing Date DR Plans). DTI will provide disaster recovery services in accordance with its Business Continuity Plan following the declaration of a "Disaster", which is hereby defined to mean any event that significantly interrupts the delivery of significant Services from Primary Facilities. The Funds shall not bear the costs related to such transfer. Once the Primary Facilities have recovered, they shall again be used to provide the Services herein with no loss of time and at no additional cost to the Funds.
(b) DTI shall demonstrate its ability to effect a transfer toThe Companies represent and warrant that the Disaster Recovery Plans set forth on Schedule A are the backup, business continuation and provide adequate services from, Back-up Facilities by developing, maintaining and testing a business continuity plan containing disaster recovery procedures for its data centers and operations facilitiesplans utilized by Hartford Life Private Placement, including without limitation LLC as of the Lion Software Closing Date ("Business Continuity Plan"the “Closing Date DR Plans”). DTI's Business Continuity Plan will meet If the Disaster Recovery Plans set forth on Schedule A differ in any material respect from the Closing Date DR Plans, then the Administrator shall be entitled to implement the Closing Date DR Plans in lieu of the Disaster Recovery Plans set forth on Schedule A, subject to the following minimum requirements: sentences of this Section 3.6(b). Before implementing the Closing Date DR Plans, the Administrator’s Relationship Manager shall notify the Companies’ Relationship Manager of the issue and the Relationship Managers shall meet within five (i5) data days thereafter to discuss the matter. Unless the Companies’ Relationship Manager in good faith disagrees with the Administrator’s position within ten (10) days after such meeting, the Administrator shall be backed up entitled to alternate sites so that no loss implement the Closing Date DR Plans in lieu of data can occurthe Disaster Recovery Plans set forth on Schedule A. If, however, the Companies’ Relationship Manager in good faith disagrees with the Administrator’s position, the Administrator shall be entitled to seek to resolve the dispute pursuant to Section 21.1 and, if the dispute cannot be resolved pursuant to such Section, then pursuant to Sections 21.2 through 21.10. The Administrator’s exclusive remedy for the Companies’ breach of the representation and (ii) DTI's Business Continuity Plan will meet or exceed the business continuity plan requirements warranty set forth in the policies initial sentence of BNYM Corporation. An executive summary of the Business Continuity Plan, as the Business Continuity Plan was constituted on the Effective Date, this Section 3.6(b) shall be delivered the right to implement the Funds by the Effective Date. DTI shall annually provide the Funds with an executive summary in written form of the Business Continuity Plan, updated as necessary to incorporate into the executive summary, as of the date provided, summaries of any changes to the Business Continuity Plan since the Effective Date, or the date of the last executive summary of the Business Continuity Plan provided to the Funds, as the case may be (posting on a website of DTI or its Affiliate shall be deemed to satisfy this requirement). The Business Continuity Plan will be available at DTI for review in accordance with the policies of BNYM Corporation. At least once each calendar year, DTI shall test the Business Continuity Plan.
(c) DTI will provide the Funds with executive summaries of all internal tests of the Business Continuity Plan that will include the date of the test, the scope of the test and whether it was a success or not a success. All tests will follow standardized test scripts that will be reviewed by a centralized group of BNYM Corporation for completeness ("BCP Test Group"). All critical issues resulting from the tests will be tracked by the BCP Test Group and remain a priority for DTI (and the associated technology service teams of BNYM CorporationClosing Date DR Plans going forward and, if applicable) until remediated. If any , to recover its reasonable and documented incremental costs incurred in implementing the Disaster Recovery Plans instead of the critical issues are a hindrance to providing critical services to the Funds, the Funds will be so advisedClosing Date DR Plans.
Appears in 1 contract
Samples: Administrative Services Agreement (Tiptree Financial Inc.)
Disaster Recovery. 18.2.1 Seller shall maintain a business continuity/disaster recovery plan (a) DTI “Disaster Recovery Plan”). Seller shall provide back-up facilities ("Back-Up Facilities") to comply in all material respects with the primary operations and data centers used by DTI to provide the Services ("Primary Facilities") that are capable of providing the Services Disaster Recovery Plan in the event an incident to the Primary Facilities significantly interrupts the delivery of a significant Service. The Back-up Facilities will have no other function that could not be suspended immediately for an indefinite period of time if necessary to allow, or continue to be supported while allowing, the Back-up Facilities to function as back-up facilities for interrupted Services in accordance with DTI's Business Continuity Plan (as defined below). DTI will provide disaster recovery services in accordance with its Business Continuity Plan following the declaration of a "Disaster", which is hereby defined to mean any event that significantly interrupts the delivery of significant Services from Primary Facilities. The Funds shall not bear the costs related to such transfer. Once the Primary Facilities have recovered, they shall again be used to provide the Services herein with no loss of time and at no additional cost to the Funds.
(b) DTI shall demonstrate its ability to effect a transfer to, and provide adequate services from, Back-up Facilities by developing, maintaining and testing a business continuity plan containing disaster recovery procedures for its data centers and operations facilitiesdisaster, including without limitation a Force Majeure event with respect to Seller and/or any of its subcontractors or suppliers covered by the Lion Software Disaster Recovery Plan. Any performance failure or delay of Seller that is the result of Seller failing to comply ("Business Continuity Plan"). DTI's Business Continuity or to cause its subcontractors or suppliers to comply) with the Disaster Recovery Plan will meet the following minimum requirements: (i) data shall including any failure of Seller to resume or restore, or cause to be backed up to alternate sites so that no loss of data can occurresumed or restored, and (ii) DTI's Business Continuity Plan will meet or exceed the certain business continuity plan requirements activities by any target timeframe set forth in the policies Disaster Recovery Plan) shall in no event be excused under Section 18.1 of BNYM Corporationthis Agreement.
18.2.2 Seller shall use commercially reasonable efforts to test appropriate components of the Disaster Recovery Plan at least once every [**] to validate that the Disaster Recovery Plan is operational and effective. An executive Seller shall maintain such records as are reasonably required to document the results of each such test and shall use commercially reasonable efforts to correct any problems identified during each such test. Upon request, Seller shall certify to TWC that the [**] testing has been conducted, which certification shall specify the date or dates upon which such testing was performed, shall provide a summary of the Business Continuity test results with TWC, and shall consider any resulting input from TWC regarding potential improvements. Upon request, Seller shall also confirm to TWC that the Disaster Recovery Plan is current with respect to information that might change over time, such as facilities and addresses, team members and contact information, etc.
18.2.3 Seller shall use commercially reasonable efforts to promptly notify TWC of each disaster that triggers activity under the Disaster Recovery Plan that materially impacts Seller’s ability to timely deliver the Equipment or timely perform the Services. Seller shall also provide such assistance as is reasonably requested by TWC to provide reasonable assurances to customers and potential customers of TWC and the Purchasers with respect to the continued delivery of the Equipment and Services provided under this Agreement following a disaster event that impacts the Equipment and Services, including with respect to the Disaster Recovery Plan, as the Business Continuity Seller’s business continuity and disaster recovery ability.
18.2.4 Seller’s Disaster Recovery Plan was constituted on the Effective Date, shall be delivered reasonably calculated to provide for the Funds by full restoration of all warranty Services and Support Services under this Agreement, which plans and procedures may include the Effective Dateuse of a third party contractor. DTI Such restoration shall annually provide the Funds with an executive summary in written form be made within [**] business days of the Business Continuity Plan, updated as necessary to incorporate into the executive summary, as occurrence of the date provided, summaries of any changes to the Business Continuity Plan since the Effective Date, or the date of the last executive summary of the Business Continuity Plan provided to the Funds, as the case may be (posting on a website of DTI or its Affiliate shall be deemed to satisfy this requirement). The Business Continuity Plan will be available at DTI for review in accordance with the policies of BNYM Corporation. At least once each calendar year, DTI shall test the Business Continuity PlanForce Majeure event.
(c) DTI will provide the Funds with executive summaries of all internal tests of the Business Continuity Plan that will include the date of the test, the scope of the test and whether it was a success or not a success. All tests will follow standardized test scripts that will be reviewed by a centralized group of BNYM Corporation for completeness ("BCP Test Group"). All critical issues resulting from the tests will be tracked by the BCP Test Group and remain a priority for DTI (and the associated technology service teams of BNYM Corporation, if applicable) until remediated. If any of the critical issues are a hindrance to providing critical services to the Funds, the Funds will be so advised.
Appears in 1 contract
Samples: Master Purchase Agreement
Disaster Recovery. (a) DTI shall provide back-up facilities ("Back-Up Facilities") Servicer acknowledges and agrees that Lender is required by Regulatory Agencies having jurisdiction over Lender to assure that its vendors have in place adequate disaster recovery plans to assure the primary operations safety, soundness, and data centers used continuity of certain Essential Daily Functions, as determined by DTI Lender in its discretion. If Servicer is providing services critical to provide the Services ("Primary Facilities") any such Essential Daily Functions, then Servicer represents and warrants that are capable of providing the Services in the event an incident to the Primary Facilities significantly interrupts the delivery of a significant Service. The Back-up Facilities Servicer will have no other function that could not be suspended immediately for an indefinite period of time if necessary in place and will provide to allowLender upon Lender’s reasonable request, or continue to be supported while allowingany time a material change is made to, the Back-up Facilities to function as back-up facilities for interrupted Services but in accordance with DTI's Business Continuity Plan (as defined below). DTI will provide no event not less than annually, a copy of Servicer’s disaster recovery services in accordance with its Business Continuity Plan following the declaration of a "Disaster", which is hereby defined plan that conforms to mean any event that significantly interrupts the delivery of significant Services from Primary FacilitiesIndustry Practices. The Funds shall not bear the costs related to such transfer. Once the Primary Facilities have recovered, they shall again be used to provide the Services herein with no loss of time and at no additional cost to the Funds.
(b) DTI shall demonstrate its ability to effect a transfer to, and provide adequate services from, Back-up Facilities by developing, maintaining and testing a business continuity plan containing Servicer’s disaster recovery procedures for its data centers and operations facilities, including without limitation the Lion Software ("Business Continuity Plan"). DTI's Business Continuity Plan will meet the following minimum requirementsplan shall: (i) data address functions and operations of the services used by Lender; (ii) specify recovery time frames for functions and operations used by Lender; (iii) provide that the disaster recovery plan shall be backed up tested and updated in accordance with Industry Practices; and (iv) provide that the disaster recovery plan be regularly updated to alternate sites so the extent necessary to correct deficiencies therewith or to remain consistent with Industry Practices, at Servicer’s cost. Servicer will (a) provide to Lender all applicable results of tests performed on the operability of the disaster recovery services within thirty (30) days following the completion of such tests, (b) allow Lender to passively participate (at its own expense) in such testing to a reasonable extent and in a manner that no loss does not unreasonably interfere with Servicer’s operations, the operations of data can occurother Servicer customers, or Servicer’s ability to conduct such tests, and (iic) DTI's Business Continuity Plan promptly provide Lender with a notice of a disaster and the expected extent to which such disaster will meet impact the delivery of the services. Servicer shall use its best efforts to resume performance under this Servicing Agreement as soon as possible after any disaster or exceed other material interruption of Servicer’s business; provided, that no such disaster, casualty, or other contingency shall operate to limit, diminish, abrogate, or delay the business continuity plan requirements set forth exercise of any rights or remedies of Lender in the policies of BNYM Corporation. An executive summary of the Business Continuity Plan, as the Business Continuity Plan was constituted on the Effective Date, shall be delivered to the Funds by the Effective Date. DTI shall annually provide the Funds with an executive summary in written form of the Business Continuity Plan, updated as necessary to incorporate into the executive summary, as of the date provided, summaries event of any changes failure of Servicer to the Business Continuity Plan since the Effective Date, or the date of the last executive summary of the Business Continuity Plan provided to the Funds, as the case may be (posting on a website of DTI or its Affiliate shall be deemed to satisfy perform this requirement). The Business Continuity Plan will be available at DTI for review Servicing Agreement in accordance with the policies of BNYM Corporationterms, provisions, and conditions hereof. At least once Servicer will review any comments and suggestions presented by Lender with respect to Servicer’s disaster recovery plan and take commercially reasonable steps to implement such comments and suggestions. Upon Lender’s request, Servicer will also (A) review Lender’s disaster recovery plan, (B) prepare recovery procedures for each calendar year, DTI shall test the Business Continuity Plan.
(c) DTI will provide the Funds with executive summaries of all internal tests of the Business Continuity Plan that will include the date of the test, the scope of the test and whether it was a success or not a success. All tests will follow standardized test scripts service that will be reviewed by a centralized group recovered (if such procedures are not already part of BNYM Corporation for completeness Lender’s disaster recovery plan) and ("BCP Test Group"). All critical issues resulting from the tests will be tracked by the BCP Test Group and remain a priority for DTI (and the associated technology service teams of BNYM Corporation, if applicableC) until remediated. If any of the critical issues are a hindrance to providing critical services to the Funds, the Funds will be so advisedparticipate in Lender’s recovery tests.
Appears in 1 contract
Samples: Servicing Agreement (GreenSky, Inc.)
Disaster Recovery. 18.2.1 Seller shall maintain a business continuity/disaster recovery plan (a) DTI “Disaster Recovery Plan”). Seller shall provide back-up facilities ("Back-Up Facilities") to comply in all material respects with the primary operations and data centers used by DTI to provide the Services ("Primary Facilities") that are capable of providing the Services Disaster Recovery Plan in the event an incident to the Primary Facilities significantly interrupts the delivery of a significant Service. The Back-up Facilities will have no other function that could not be suspended immediately for an indefinite period of time if necessary to allow, or continue to be supported while allowing, the Back-up Facilities to function as back-up facilities for interrupted Services in accordance with DTI's Business Continuity Plan (as defined below). DTI will provide disaster recovery services in accordance with its Business Continuity Plan following the declaration of a "Disaster", which is hereby defined to mean any event that significantly interrupts the delivery of significant Services from Primary Facilities. The Funds shall not bear the costs related to such transfer. Once the Primary Facilities have recovered, they shall again be used to provide the Services herein with no loss of time and at no additional cost to the Funds.
(b) DTI shall demonstrate its ability to effect a transfer to, and provide adequate services from, Back-up Facilities by developing, maintaining and testing a business continuity plan containing disaster recovery procedures for its data centers and operations facilitiesdisaster, including without limitation a Force Majeure event with respect to Seller and/or any of its subcontractors or suppliers covered by the Lion Software Disaster Recovery Plan. Any performance failure or delay of Seller that is the result of Seller failing to comply ("Business Continuity Plan"). DTI's Business Continuity or to cause its subcontractors or suppliers to comply) with the Disaster Recovery Plan will meet the following minimum requirements: (i) data shall including any failure of Seller to resume or restore, or cause to be backed up to alternate sites so that no loss of data can occurresumed or restored, and (ii) DTI's Business Continuity Plan will meet or exceed the certain business continuity plan requirements activities by any target timeframe set forth in the policies Disaster Recovery Plan) shall in no event be excused under Section 18.1 of BNYM Corporationthis Agreement.
18.2.2 Seller shall use commercially reasonable efforts to test appropriate components of the Disaster Recovery Plan at least once every [**] to validate that the Disaster Recovery Plan is operational and effective. An executive Seller shall maintain such records as are reasonably required to document the results of each such test and shall use commercially reasonable efforts to correct any problems identified during each such test. Upon request, Seller shall certify to TWC that the [**] testing has been conducted, which certification shall specify the date or dates upon which such testing was performed, shall provide a summary of the Business Continuity test results with TWC, and shall consider any resulting input from TWC regarding potential improvements. Upon request, Seller shall also confirm to TWC that the Disaster Recovery Plan is current with respect to information that might change over time, such as facilities and addresses, team members and contact information, etc.
18.2.3 Seller shall use commercially reasonable efforts to promptly notify TWC of each disaster that triggers activity under the Disaster Recovery Plan that materially impacts Seller’s ability to timely deliver the Equipment or timely perform the Services. Seller shall also provide such assistance as is reasonably requested by TWC to provide reasonable assurances to customers and potential customers of TWC and the Purchasers with respect to the continued delivery of the Equipment and Services provided under this Agreement following a disaster event that impacts the Equipment and Services, including with respect to the Disaster Recovery Plan, as the Business Continuity Plan was constituted on the Effective Date, shall be delivered to the Funds by the Effective Date. DTI shall annually provide the Funds with an executive summary in written form of the Business Continuity Plan, updated as necessary to incorporate into the executive summary, as of the date provided, summaries of any changes to the Business Continuity Plan since the Effective Date, or the date of the last executive summary of the Business Continuity Plan provided to the Funds, as the case may be (posting on a website of DTI or its Affiliate shall be deemed to satisfy this requirement). The Business Continuity Plan will be available at DTI for review in accordance with the policies of BNYM Corporation. At least once each calendar year, DTI shall test the Business Continuity PlanSeller’s business continuity and disaster recovery ability.
(c) DTI will provide the Funds with executive summaries of all internal tests of the Business Continuity Plan that will include the date of the test, the scope of the test and whether it was a success or not a success. All tests will follow standardized test scripts that will be reviewed by a centralized group of BNYM Corporation for completeness ("BCP Test Group"). All critical issues resulting from the tests will be tracked by the BCP Test Group and remain a priority for DTI (and the associated technology service teams of BNYM Corporation, if applicable) until remediated. If any of the critical issues are a hindrance to providing critical services to the Funds, the Funds will be so advised.
Appears in 1 contract
Disaster Recovery. As part of the Base Services, Unisys shall provide disaster recovery services as set forth in this section. Beginning on the Effective Date, Unisys shall (1) monitor and administer the disaster recovery and storage agreements between UHS and certain vendors that are set forth in Exhibit 12, (2) implement the portions of UHS' disaster recovery plan that are applicable to the Services, (3) cooperate with UHS and its vendors to (a) DTI shall provide back-up facilities ("Back-Up Facilities") initially update the UHS disaster recovery plan to reflect the relocation of the Machines and Services to the primary operations Unisys Service Location and data centers used (b) update the plan on an annual basis thereafter and (c) update the plan prior to the installation of new Machines or the provision of new Services, (4) provide a designated representative who has disaster recovery experience and who can act as a liaison between UHS and Unisys on disaster recovery-related communications, activities and issues, (5) cooperate with UHS and its vendors in testing the disaster recovery plan annually, or at such other frequency as may be set forth in EXHIBIT 12, and (6) comply with the tests that are required by DTI the disaster recovery plan. UHS has the sole discretion to provide declare a Disaster. UHS is responsible for all disaster recovery fees, and Unisys will not charge UHS for fees related to affected Services during the Disaster period, provided that Unisys may charge UHS for the reasonable personnel costs incurred by Unisys with respect to the Services ("Primary Facilities") during such Disaster period. Unisys may propose alternative disaster recovery services to UHS at a level of service equal to or better than the disaster recovery services currently provided to UHS. If Unisys makes such a proposal, the parties shall mutually determine its scope and whether such proposal should be adopted. Any Unisys disaster recovery plan proposal shall identify a backup facility or facilities that are capable of providing can provide the Services in the event an incident to the Primary Facilities significantly interrupts the delivery of a significant ServiceDisaster (the "BACKUP FACILITY"). The Back-up Facilities will have no other function Backup Facility shall be sufficiently distant from Unisys primary processing facility such that could a single event would not be suspended immediately for an indefinite period of time if necessary to allow, or continue to be supported while allowing, compromise the Back-up Facilities to function as back-up facilities for interrupted primary processing facility and the Backup Facility simultaneously. In the event that Unisys cannot perform the Services in accordance with DTI's Business Continuity Plan (as defined below). DTI will provide disaster recovery services in accordance with its Business Continuity Plan following the applicable performance standards within four weeks of the declaration of a "Disaster", which is hereby defined UHS may terminate this Agreement without regard to mean any event that significantly interrupts the delivery of significant Services from Primary Facilities. The Funds shall not bear the costs related to such transfer. Once the Primary Facilities have recovered, they shall again be used to provide the Services herein with no loss of time and at no additional cost to the FundsARTICLE 25 or SECTION 17.02.
(b) DTI shall demonstrate its ability to effect a transfer to, and provide adequate services from, Back-up Facilities by developing, maintaining and testing a business continuity plan containing disaster recovery procedures for its data centers and operations facilities, including without limitation the Lion Software ("Business Continuity Plan"). DTI's Business Continuity Plan will meet the following minimum requirements: (i) data shall be backed up to alternate sites so that no loss of data can occur, and (ii) DTI's Business Continuity Plan will meet or exceed the business continuity plan requirements set forth in the policies of BNYM Corporation. An executive summary of the Business Continuity Plan, as the Business Continuity Plan was constituted on the Effective Date, shall be delivered to the Funds by the Effective Date. DTI shall annually provide the Funds with an executive summary in written form of the Business Continuity Plan, updated as necessary to incorporate into the executive summary, as of the date provided, summaries of any changes to the Business Continuity Plan since the Effective Date, or the date of the last executive summary of the Business Continuity Plan provided to the Funds, as the case may be (posting on a website of DTI or its Affiliate shall be deemed to satisfy this requirement). The Business Continuity Plan will be available at DTI for review in accordance with the policies of BNYM Corporation. At least once each calendar year, DTI shall test the Business Continuity Plan.
(c) DTI will provide the Funds with executive summaries of all internal tests of the Business Continuity Plan that will include the date of the test, the scope of the test and whether it was a success or not a success. All tests will follow standardized test scripts that will be reviewed by a centralized group of BNYM Corporation for completeness ("BCP Test Group"). All critical issues resulting from the tests will be tracked by the BCP Test Group and remain a priority for DTI (and the associated technology service teams of BNYM Corporation, if applicable) until remediated. If any of the critical issues are a hindrance to providing critical services to the Funds, the Funds will be so advised.
Appears in 1 contract
Samples: Information Technology Services Agreement (United Healthcare Corp)
Disaster Recovery. Servicer acknowledges and agrees that Lender is required by Regulatory Agencies having jurisdiction over Lender to assure that its vendors have in place adequate disaster recovery plans to assure the safety, soundness, and continuity of certain Essential Daily Functions, as determined by Lender in its discretion. If Servicer is providing services critical to any such Essential Daily Functions, then Servicer represents and warrants that Servicer will have in place and will provide to Lender upon Lender’s reasonable request, or any time a material change is made to, but in no event not less than annually, a copy of Servicer’s disaster recovery plan that conforms to Industry Practices. Servicer’s disaster recovery plan shall: CERTAIN CONFIDENTIAL MATERIAL APPEARING IN THIS DOCUMENT, MARKED BY [*****] HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(i) address functions and operations of the services used by Lender; (ii) specify recovery time frames for functions and operations used by Lender; (iii) provide that the disaster recovery plan shall be tested and updated in accordance with Industry Practices; and (iv) provide that the disaster recovery plan be regularly updated to the extent necessary to correct deficiencies therewith or to remain consistent with Industry Practices, at Servicer’s cost. Servicer will (a) DTI provide to Lender all applicable results of tests performed on the operability of the disaster recovery services within thirty (30) days following the completion of such tests, (b) allow Lender to passively participate (at its own expense) in such testing to a reasonable extent and in a manner that does not unreasonably interfere with Servicer’s operations, the operations of other Servicer customers, or Servicer’s ability to conduct such tests, and (c) promptly provide Lender with a notice of a disaster and the expected extent to which such disaster will impact the delivery of the services. Servicer shall provide back-up facilities ("Back-Up Facilities") use its best efforts to resume performance under this Origination Agreement as soon as possible after any disaster or other material interruption of Servicer’s business; provided, that no such disaster, casualty, or other contingency shall operate to limit, diminish, abrogate, or delay the primary operations and data centers used by DTI to provide the Services ("Primary Facilities") that are capable exercise of providing the Services any rights or remedies of Lender in the event an incident to the Primary Facilities significantly interrupts the delivery of a significant Service. The Back-up Facilities will have no other function that could not be suspended immediately for an indefinite period of time if necessary to allow, or continue to be supported while allowing, the Back-up Facilities to function as back-up facilities for interrupted Services in accordance with DTI's Business Continuity Plan (as defined below). DTI will provide disaster recovery services in accordance with its Business Continuity Plan following the declaration of a "Disaster", which is hereby defined to mean any event that significantly interrupts the delivery of significant Services from Primary Facilities. The Funds shall not bear the costs related to such transfer. Once the Primary Facilities have recovered, they shall again be used to provide the Services herein with no loss of time and at no additional cost to the Funds.
(b) DTI shall demonstrate its ability to effect a transfer to, and provide adequate services from, Back-up Facilities by developing, maintaining and testing a business continuity plan containing disaster recovery procedures for its data centers and operations facilities, including without limitation the Lion Software ("Business Continuity Plan"). DTI's Business Continuity Plan will meet the following minimum requirements: (i) data shall be backed up to alternate sites so that no loss of data can occur, and (ii) DTI's Business Continuity Plan will meet or exceed the business continuity plan requirements set forth in the policies of BNYM Corporation. An executive summary of the Business Continuity Plan, as the Business Continuity Plan was constituted on the Effective Date, shall be delivered to the Funds by the Effective Date. DTI shall annually provide the Funds with an executive summary in written form of the Business Continuity Plan, updated as necessary to incorporate into the executive summary, as of the date provided, summaries of any changes failure of Servicer to the Business Continuity Plan since the Effective Date, or the date of the last executive summary of the Business Continuity Plan provided to the Funds, as the case may be (posting on a website of DTI or its Affiliate shall be deemed to satisfy perform this requirement). The Business Continuity Plan will be available at DTI for review Origination Agreement in accordance with the policies of BNYM Corporationterms, provisions, and conditions hereof. At least once Servicer will review any comments and suggestions presented by Lender with respect to Servicer’s disaster recovery plan and take commercially reasonable steps to implement such comments and suggestions. Upon Lender’s request, Servicer will also (A) review Lender’s disaster recovery plan, (B) prepare recovery procedures for each calendar year, DTI shall test the Business Continuity Plan.
(c) DTI will provide the Funds with executive summaries of all internal tests of the Business Continuity Plan that will include the date of the test, the scope of the test and whether it was a success or not a success. All tests will follow standardized test scripts service that will be reviewed by a centralized group recovered (if such procedures are not already part of BNYM Corporation for completeness Lender’s disaster recovery plan) and ("BCP Test Group"). All critical issues resulting from the tests will be tracked by the BCP Test Group and remain a priority for DTI (and the associated technology service teams of BNYM CorporationC) at Lender’s request, if applicable) until remediated. If any of the critical issues are a hindrance to providing critical services to the Funds, the Funds will be so advisedparticipate in Lender’s recovery tests.
Appears in 1 contract
Samples: Loan Origination Agreement