Common use of Financial Information and Audit Clause in Contracts

Financial Information and Audit. The Institution may from time to time request information from the Company in order to evaluate a continuation of the Service to be provided by the Institution hereunder and/or adjustment of any limits set by this Agreement. The Company agrees to provide the requested financial information immediately upon request by the Institution, in the form required by the Institution. The Institution has the right without cause to audit the Company. The Company authorizes the Institution to investigate or reinvestigate at any time any information provided by the Company in connection with this Agreement or the Service. Upon request by the Institution, the Company hereby authorizes the Institution to enter the Company’s business premises for the purpose of ensuring that the Company is in compliance with this Agreement and the Company specifically authorizes the Institution to perform an audit of the Company’s operational controls, risk management practices, staffing and the need for training and ongoing support, and information technology infrastructure. The Company hereby acknowledges and agrees that the Institution shall have the right to mandate specific internal controls at the Company’s location(s) and the Company shall comply with any such mandate. In addition, the Company hereby agrees to allow the Institution to review available reports of independent audits performed at the Company location related to information technology, the Service and any associated operational processes. The Company agrees that if requested by the Institution, the Company will complete an assessment of the Company’s operations, management, staff, systems, internal controls, training and risk management practices that would otherwise be reviewed by the Institution in an audit of the Company. If the Company refuses to provide the requested financial information, or if the Institution concludes, in its sole discretion, that the risk of the Company is unacceptable, or if the Company violates this Agreement or the Rules, or if the Company refuses to give the Institution access to the Company’s premises, the Institution may terminate the Service and this Agreement according to the provisions hereof.

Financial Information and Audit. The Institution Bank may from time to time-to-time request information from the Company in order to evaluate a continuation of the Service service to be provided by the Institution Bank hereunder and/or adjustment of any limits set by this Agreement. The Company agrees to provide the requested financial information immediately upon request by the InstitutionBank, in the form required by the InstitutionBank. The Institution has the right without cause to audit the Company. The Company authorizes the Institution Bank to investigate or reinvestigate at any time any information provided by the Company in connection with this Agreement or the Service. Upon request by the InstitutionBank, the Company hereby authorizes the Institution Bank to enter the Company’s business premises for the purpose of ensuring that the Company is in compliance with this Agreement and the Company specifically authorizes the Institution Bank to perform an audit of the Company’s operational controls, risk management practices, staffing and the need for training and ongoing support, and information technology infrastructure. The Company hereby acknowledges and agrees that the Institution Bank shall have the right to mandate specific internal controls at the Company’s location(s) and the Company shall comply with any such mandate. In addition, the Company hereby agrees to allow the Institution Bank to review available reports of independent audits performed at the Company location related to information technology, the Service service and any associated operational processes. The Company agrees that if requested by the InstitutionBank, the Company will complete an a self-assessment of the Company’s operations, management, staff, systems, internal controls, training and risk management practices that would otherwise be reviewed by the Institution Bank in an audit of the Company. If the Company refuses to provide the requested financial information, or if the Institution Bank concludes, in its sole discretion, that the risk of the Company is unacceptable, or if the Company violates this the Agreement or the Rules, or if the Company refuses to give the Institution Bank access to the Company’s premises, the Institution Bank may terminate the Service service and this the Agreement according to the provisions hereof.