Common use of Information Security and Data Privacy Clause in Contracts

Information Security and Data Privacy. (a) The Seller Entities have taken reasonable steps to safeguard the information technology systems utilized in their operation, including the implementation of procedures to ensure that such information technology systems are free from any disabling codes or instructions, timer, copy protection device, clock, counter or other limiting design or routing and any “back door,” “time bomb,” “trojan horse,” “worm,” “drop dead devices,” “virus,” or other software routines or hardware components that in each case permit unauthorized access or the unauthorized disablement or unauthorized erasure of data or other software by a third party, and to date there have been no successful unauthorized intrusions or breaches of the security of the information technology systems. The Seller Entities have dedicated the technical, administrative, budgetary and human resources reasonably necessary for maintenance of safe information security practices and to ensure compliance with all Laws related to data security. The Seller Entities have appropriate safeguards in place to oversee any vendors helping to safeguard the information technology systems utilized in the operation of the Company and the Company Subsidiaries. (b) Each Seller Entity has complied with, and is presently in compliance with, all applicable Laws and such Seller Entity’s respective policies applicable to data privacy, data security or personal information. No Seller Entity has experienced any incident in which personal information or other sensitive data was or may have been stolen or improperly accessed, and, to the Seller’s Knowledge, there are no facts suggesting the likelihood of the foregoing, including any breach of security or receipt of any notices or complaints from any Person regarding personal information or other data. No notice, action or assertion has been received by any Seller Entity within the last three (3) years or has been filed, commenced or, to the Seller’s Knowledge, threatened against any Seller Entity alleging any violation of any Laws relating to data security.

Appears in 3 contracts

Samples: Stock Purchase Agreement, Stock Purchase Agreement (SFX Entertainment, INC), Stock Purchase Agreement (SFX Entertainment, INC)

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Information Security and Data Privacy. (a) The Seller Entities Company and the Subsidiaries have taken reasonable steps to safeguard the information technology systems utilized in their operation, including the implementation of procedures to ensure that such information technology systems are free from any disabling codes or instructions, timer, copy protection device, clock, counter or other limiting design or routing and any “back door,” “time bomb,” “trojan horse,” “worm,” “drop dead devices,” “virus,” or other software routines or hardware components that in each case permit unauthorized access or the unauthorized disablement or unauthorized erasure of data or other software by a third party, and to date there have been no successful unauthorized intrusions or breaches of the security of the information technology systems. The Seller Entities Company and the Subsidiaries have dedicated the technical, administrative, budgetary and human resources reasonably necessary for maintenance of safe information security practices and to ensure compliance with all Laws related to data security. The Seller Entities Company and the Subsidiaries have appropriate safeguards in place to oversee any vendors helping to safeguard the information technology systems utilized in the operation of the Company and the Company Subsidiaries. (b) Each Seller Entity has The Company and its Subsidiaries have complied with, and is are presently in compliance with, all applicable Laws and such Seller Entity’s their respective policies applicable to data privacy, data security or personal information. No Seller Entity has Neither the Company nor any of the Subsidiaries have experienced any incident in which personal information or other sensitive data was or may have been stolen or improperly accessed, and, to and the Seller’s Knowledge, there Company and the Subsidiaries are no not aware of any facts suggesting the likelihood of the foregoing, including without limitation, any breach of security or receipt of any notices or complaints from any Person regarding personal information or other data. No notice, action or assertion has been received by any Seller Entity the Company or the Subsidiaries within the last three (3) years or has been filed, commenced or, to the SellerCompany’s Knowledge, threatened against any Seller Entity the Company alleging any violation of any Laws relating to data security.

Appears in 1 contract

Samples: Option Agreement (SFX Entertainment, INC)

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