Common use of Financial Information and Right to Audit Clause in Contracts

Financial Information and Right to Audit. Bank can suspend service at any time, without notice. a. Customer acknowledges that applicable law requires a credit evaluation as a condition of using the Service, and Customer agrees to comply with requests for information or other requests related to Bank’s execution of its credit evaluation process, both at the time of implementation of the Service and during periodic renewals. b. Customer acknowledges that applicable law requires a periodic review of Customer’s procedures related to the Service to ensure compliance with regulatory standards, and agrees to provide Bank with access to its facilities from time to time upon reasonable advance notice for the purpose of conducting such procedural reviews. c. Customer acknowledges that the credit reviews and audits described herein may reveal conditions that require Bank to take corrective action, up to and including the termination of the Service. In such event, Customer agrees to hold bank harmless from any costs or liabilities arising from such action.