Risks relating to GSW's operations Sample Clauses

Risks relating to GSW's operations. GSW conducts a significant proportion of its operations through other consolidated subsidiaries of GSG, most notably GSI and Xxxxxxx Xxxxx Bank Europe SE ("GSBE"). In this respect, finance and operations functions are performed through employees of GSBE. As GSW has no information technology systems of its own, it uses the systems and standard software of its affiliates. A breach in the IT systems of GSI or GSBE, or a n operational failure of an affiliate company that provides financial or operational support to GSW, could result in financial losses to GSW and have a material adverse impact on the financial position of GSW.
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