Common use of Operational Risk Clause in Contracts

Operational Risk. Operational risk is the risk that is derived from the deficiencies relating to the Seller’s information technology and control systems as well as the risk of human error and natural disasters. The Buyers faces the risk of loss due to the Seller’s failure to continuously evaluate, maintain and upgrade existing systems and processes.

Operational Risk. Operational risk is the risk that is derived from the deficiencies relating to the Seller’s information technology and control systems as well as the risk of human error and natural disasters. The Buyers faces the indicates a risk of loss due resulting from inadequate or failed internal or outsourced processes, people, infrastructure and technology or from external events. The Issuer, the Guarantor and/or Cornèr Group seek to the Seller’s failure to continuously evaluate, maintain and upgrade existing systems and processesminimise these risks through an effective internal control environment.

Operational Risk. Operational risk is the risk that is derived from the deficiencies relating exposure to the Seller’s information technology and control systems as well as the risk of human error and natural disasters. The Buyers faces the risk of loss due to human error or fraud, or from a system of internal controls that fails to adequately record, monitor and properly account for transactions or positions. In addition to the Seller’s failure system of controls and reporting obligations described herein, the Company has implemented the following personnel and system controls to continuously evaluate, maintain and upgrade existing systems and processesmitigate operational risks.