Common use of Mutual Representations and Covenants Clause in Contracts

Mutual Representations and Covenants. Each party represents, warrants and covenants to and with the other party: (a) Each party will comply, and will cause its employees and agents to comply with, all the terms of this Agreement, which are applicable to it, including any amendments thereto. (b) Each party will comply with all applicable laws and regulations applicable to its business operations (subject to Section 9.2 above and will acquire all the rights, licenses and certifications required by applicable Rules (including without limitation the applicable Account Security System) or reasonably deemed necessary by the parties to perform their respective duties, or to exercise their respective rights and privileges under this Agreement. (c) Each party will comply with all applicable Rules and without limitation shall ensure that their respective systems and processes are maintained and operated in accordance with the applicable Account Security System. (d) Each party will promptly review all reports prepared by the other party and its agents and submitted to such other party. Except in the case of typographical, arithmetical or similar error, the failure of the party receiving a particular report to notify the party which prepared such report in writing of any error contained in any such report within ninety (90) business days of its receipt shall constitute acceptance of the report and waiver of the rights of the party receiving such report with respect thereto. (e) Planet Payment shall keep complete and accurate records of all Transactions processed by it, as may be required under applicable Rules or any laws and regulations and shall retain the relevant data in accordance with Section 10 of the Agreement.