Common use of Financial Information and Audit Clause in Contracts

Financial Information and Audit. Bank may from time to time request information from Customer in order to evaluate a continuation of the ACH Services to be provided by Bank hereunder and/or adjustment of any limits set by these Terms. Customer agrees to provide the requested financial information immediately upon request by Bank, in the form required by Bank. Customer authorizes Bank to investigate or reinvestigate at any time any information provided by Customer in connection with these Terms or the ACH Services. Upon request by Bank, Customer hereby authorizes Bank or its agents, in each case, to enter Customer’s business premises for the purpose of ensuring that Customer is in compliance with these Terms, and Customer specifically authorizes Bank or its agents, in each case, to perform an audit of Customer’s operational controls, risk management practices, staffing and the need for training and ongoing support, and information technology infrastructure. Customer hereby acknowledges and agrees that Bank shall have the right to mandate specific internal controls at Customer’s location(s), and Customer shall comply with any such mandate. In addition, Customer hereby agrees to allow Bank to review available reports of independent audits performed at Customer location related to information technology, the ACH Services and any associated operational processes. Customer agrees that if requested by Bank, Customer shall complete a self-assessment of Customer’s operations, management, staff, systems, internal controls, training and risk management practices that would otherwise be reviewed by Bank in an audit of Customer. Customer shall provide Bank with the results of the annual audit conducted by an independent party pursuant to the Rules promptly (and not longer than 30 days) after such audit has been completed. If (i) Customer refuses to provide the requested financial information, (ii) Bank concludes, in its sole and absolute discretion, that the risk of Customer is unacceptable, (iii) Customer violates these Terms or the Rules, or (iv) Customer refuses to give Bank access to Customer’s premises, Bank may terminate the ACH Services according to the provisions hereof.

Financial Information and Audit. Bank may may, from time to time time, request information from Customer in order to evaluate a continuation of the ACH Services to be provided by Bank hereunder and/or adjustment of any limits set by these Terms. Customer agrees to provide the requested financial information immediately upon request by Bank, in the form required by Bank. Customer authorizes Bank to investigate or reinvestigate at any time any information provided by Customer in connection with these Terms or the ACH Services. Upon request by Bank, Customer hereby authorizes Bank or its agents, in each case, to enter Customer’s business premises for the purpose of ensuring that Customer is in compliance with these Terms, and Customer specifically authorizes Bank or its agents, in each case, to perform an audit of Customer’s operational controls, risk management practices, staffing and the need for training and ongoing support, and information technology infrastructure. Customer hereby acknowledges and agrees that Bank shall have the right to mandate specific internal controls at Customer’s location(s), and Customer shall comply with any such mandate. In addition, Customer hereby agrees to allow Bank to review available reports of independent audits performed at Customer location related to information technology, the ACH Services Services, and any associated operational processes. Customer agrees that if requested by Bank, Customer shall complete a self-assessment of Customer’s operations, management, staff, systems, internal controls, training training, and risk management practices that would otherwise be reviewed by Bank in an audit of Customer. Customer shall provide Bank with the results of the annual audit conducted by an independent party pursuant to the Rules promptly (and not longer than 30 days) after such audit has been completed. If (i) Customer refuses to provide the requested financial information, (ii) Bank concludes, in its sole and absolute discretion, that the risk of Customer is unacceptable, (iii) Customer violates these Terms or the Rules, or (iv) Customer refuses to give Bank access to Customer’s premises, Bank may terminate the ACH Services according to the provisions hereof.

Financial Information and Audit. Bank may from time to time request information from Customer fromCustomer in order to evaluate a continuation of the ACH Services to be provided by Bank hereunder and/or adjustment of any limits set by these Terms. Customer agrees to provide the requested financial information immediately upon request by Bank, in the form required by Bank. Customer authorizes Bank to investigate or reinvestigate at any time any information provided by Customer in connection with these Terms or the ACH Services. Upon request by Bank, Customer hereby authorizes Bank or its agents, in each case, to enter Customer’s business premises for the purpose of ensuring that Customer is in compliance with these Terms, and Customer specifically authorizes Bank or its agents, in each case, to perform an audit of Customer’s operational controls, risk management practices, staffing and the need for training and ongoing support, and information technology infrastructure. Customer hereby acknowledges and agrees that Bank shall have the right to mandate specific internal controls at Customer’s location(s), and Customer shall comply with any such mandate. In addition, Customer hereby agrees to allow Bank to review available reports of independent audits performed at Customer location related to information technology, the ACH Services and any associated operational processes. Customer agrees that if requested by Bank, Customer shall complete a self-assessment of Customer’s operations, management, staff, systems, internal controls, training and risk management practices that would otherwise be reviewed by Bank in an audit of Customer. Customer shall provide Bank with the results of the annual audit conducted by an independent party pursuant to the Rules promptly (and not longer than 30 days) after such audit has been completed. If (i) Customer refuses to provide the requested financial information, (ii) Bank concludes, in its sole and absolute discretion, that the risk of Customer is unacceptable, (iii) Customer violates these Terms or the Rules, or (iv) Customer refuses to give Bank access to Customer’s premises, Bank may terminate the ACH Services according to the provisions hereof.