Common use of Return or Destruction Infeasible Clause in Contracts

Return or Destruction Infeasible. If the Sponsored Party or a Permitted Party believes that the return or destruction of all Confidential Information under section 10 is not feasible, or if the Sponsored Party or a Permitted Party is required by applicable law or accounting rules or reasonable recordkeeping practices to retain a record copy of any Confidential Information for some period, the Sponsored Party shall notify the Bank in writing of the conditions that make return or destruction infeasible or that require retention. If the Bank consents to the Sponsored Party’s or a Permitted Party’s retention of any Confidential Information for the reasons described in the notice, the Sponsored Party or Permitted Party may retain a copy of the Confidential Information, which is to be maintained subject to the protections of these Supplemental Terms until the Confidential Information becomes public or otherwise ceases to be “Confidential Information” as defined in section 1 or is returned to the Bank or destroyed as provided in section 10. The Bank shall not withhold unreasonably its consent to the Sponsored Party’s request that it or a Permitted Party be permitted to retain certain Confidential Information under this section. The Bank may revoke its consent to retain Confidential Information granted under this section upon 30 days’ notice to the Sponsored Party, with such consent not to be revoked unreasonably.

Return or Destruction Infeasible. If the Sponsored Party or a Permitted Party believes that the return or destruction of all Confidential Information under section 10 is not feasible, or if the Sponsored Party or a Permitted Party is required by applicable law or accounting rules or reasonable recordkeeping practices to retain a record copy of any Confidential Information for some period, the Sponsored Party shall notify the Bank Federal Reserve Banks in writing of the conditions that make return or destruction infeasible or that require retention. If the Bank Federal Reserve Banks consents to the Sponsored Party’s or a Permitted Party’s retention of any Confidential Information for the reasons described in the notice, the Sponsored Party or Permitted Party may retain a copy of the Confidential Information, which is to be maintained subject to the protections of these Supplemental Terms until the Confidential Information becomes public or otherwise ceases to be “Confidential Information” as defined in section 1 or is returned to the Bank Federal Reserve Banks or destroyed 11. Return or Destruction Infeasible (continued).‌‌‌‌‌ as provided in section 10. The Bank Federal Reserve Banks shall not withhold unreasonably its consent to the Sponsored Party’s request that it or a Permitted Party be permitted to retain certain Confidential Information under this section. The Bank Federal Reserve Banks may revoke its their consent to retain Confidential Information granted under this section upon 30 days’ notice to the Sponsored Party, with such consent not to be revoked unreasonably.