Common use of Internet-Based Letter of Credit Services ("Internet ServIces") Clause in Contracts

Internet-Based Letter of Credit Services ("Internet ServIces"). (a) If requested by Applicant and agreed to by Bank, Bank will grant Applicant access to Bank's letter of credit-related Internet Services. U.S. Bank Global Trade Works is an example of one such Internet Service, Bank's Internet Services may be used by Applicant for the processing and issuance of Credits in accordance with the terms of this Agreement Bank shall post Rules of Use of the Internet Services within each such Service. Applicant's initial use of an Internet Service shall constitute Applicant's acceptance of the Rules of Use. (b) Applicant agrees to use the Internet Services In accordance with the security procedures established by Bank. Due to emerging technologies and ensuing changes in security practices, Bank reserves the right to supplement or change its security procedures from time to time upon reasonable notice to Applicant. Applicant shall designate one or more Security Administrators. The Security Administrator is responsible for setting up Applicant's Internet Services and for establishing internal security procedures related to such services, Including without limitation, accepting software for delivery, assigning users, establishing authority levels, distributing passwords and other security devices and procedures related to the Internet Services. Designation of any Security Administrator may be amended or revoked upon written notice to Bank. Bank shall have a reasonable time to act on any such notice. (c) Applicant Is responsible for maintaining the security and confidentiality of all IDS, passwords and other security devices issued to or by Applicant (collectively, 'Applicant's Internal Security Service). Applicant shall not permit unauthorized individuals to use Applicant's Internal Security Devices to access the Internet Services. Applicant is responsible for the actions of any individuals using Applicants Internal Security Devices to access to the Internet Services and Applicant shall be bound by any transmission to Bank that is accepted in accordance with the established security procedures. Applicant shall promptly notify Bank if Applicant has actual knowledge that its Internal Security Devices have been compromised. Applicant agrees to defend and indemnify Bank against any claims, losses, damages, costs, expenses, fines and other liabilities arising out of Applicant's failure to maintain the security and confidentiality of Applicant's Internal Security Devices or arising out of the unlawful use of any Internet Services by Applicant or any person who obtains access to the Internet Services using Applicants Internal Security Devices.

Appears in 4 contracts

Samples: Master Letter of Credit Facility Agreement (M I Homes Inc), Master Letter of Credit Facility Agreement (M I Homes Inc), Master Letter of Credit Facility Agreement (M I Homes Inc)

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Internet-Based Letter of Credit Services ("Internet ServIces"). (a) If requested by Applicant and agreed to by Bank, Bank will grant Applicant access to Bank's ’s letter of credit-related Internet Services. U.S. Bank Global Trade Works is an example of one such Internet Service, . Bank's ’s Internet Services may be used by Applicant for the processing and issuance of Credits in accordance with the terms of this Agreement Agreement. Bank shall post Rules of Use of the Internet Services within each such Service. Applicant's ’s initial use of an Internet Service shall constitute Applicant's ’s acceptance of the Rules of Use. (b) Applicant agrees to use the Internet Services In in accordance with the security procedures established by Bank. Due to emerging technologies and ensuing changes in security practices, Bank reserves the right to supplement or change its security procedures from time to time upon reasonable notice to Applicant. Applicant shall designate one or more Security Administrators. The Security Administrator is responsible for setting up Applicant's ’s Internet Services and for establishing internal security procedures related to such services, Including including without limitation, accepting software for delivery, assigning users, establishing authority levels, distributing passwords and other security devices and procedures related to the Internet Services. Designation of any Security Administrator may be amended or revoked upon written notice to Bank. Bank shall have a reasonable time to act on any such notice.. Continuing Reimbursement Agreement rev. 12/04 (c) Applicant Is is responsible for maintaining the security and confidentiality of all IDSIDs, passwords and other security devices issued to or by Applicant (collectively, 'Applicant's ’s Internal Security ServiceDevices”). Applicant shall not permit unauthorized individuals to use Applicant's ’s Internal Security Devices to access the Internet Services. Applicant is responsible for the actions of any individuals using Applicants Applicant’s Internal Security Devices to access to the Internet Services and Applicant shall be bound by any transmission to Bank that is accepted in accordance with the established security procedures. Applicant shall promptly notify Bank if Applicant has actual knowledge that its Internal Security Devices have been compromised. Applicant agrees to defend and indemnify Bank against any claims, losses, damages, costs, expenses, fines and other liabilities arising out of Applicant's ’s failure to maintain the security and confidentiality of Applicant's ’s Internal Security Devices or arising out of the unlawful use of any Internet Services by Applicant or any person who obtains access to the Internet Services using Applicants Applicant’s Internal Security Devices.

Appears in 1 contract

Samples: Loan Agreement (Schiff Nutrition International, Inc.)

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Internet-Based Letter of Credit Services ("Internet ServIces"). (a) If requested by Applicant and agreed to by Bank, Bank will grant Applicant access to Bank's ’s letter of credit-related Internet Services. U.S. Bank Global Trade Works is an example of one such Internet Service, . Bank's ’s Internet Services may be used by Applicant for the processing and issuance of Credits in accordance with the terms of this Agreement Agreement. Bank shall post Rules of Use of the Internet Services within each such Service. Applicant's ’s initial use of an Internet Service shall constitute Applicant's ’s acceptance of the Rules of Use. (b) Applicant agrees to use the Internet Services In in accordance with the security procedures established by Bank. Due to emerging technologies and ensuing changes in security practices, Bank reserves the right to supplement or change its security procedures from time to time upon reasonable notice to Applicant. Applicant shall designate one or more Security Administrators. The Security Administrator is responsible for setting up Applicant's ’s Internet Services and for establishing internal security procedures related to such services, Including including without limitation, accepting software for delivery, assigning users, establishing authority levels, distributing passwords and other security devices and procedures related to the Internet Services. Designation of any Security Administrator may be amended or revoked upon written notice to Bank. Bank shall have a reasonable time to act on any such notice. (c) Applicant Is is responsible for maintaining the security and confidentiality of all IDSIDs, passwords and other security devices issued to or by Applicant (collectively, 'Applicant's ’s Internal Security ServiceDevices”). Applicant shall not permit unauthorized individuals to use Applicant's ’s Internal Security Devices to access the Internet Services. Applicant is responsible for the actions of any individuals using Applicants Applicant’s Internal Security Devices to access to the Internet Services and Applicant shall be bound by any transmission to Bank that is accepted in accordance with the established security procedures. Applicant shall promptly notify Bank if Applicant has actual knowledge that its Internal Security Devices have been compromised. Applicant agrees to defend and indemnify Bank against any claims, losses, damages, costs, expenses, fines and other liabilities arising out of Applicant's ’s failure to maintain the security and confidentiality of Applicant's ’s Internal Security Devices or arising out of the unlawful use of any Internet Services by Applicant or any person who obtains access to the Internet Services using Applicants Applicant’s Internal Security Devices.

Appears in 1 contract

Samples: Loan Agreement (Schiff Nutrition International, Inc.)

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