SOC Reports. Upon reasonable written request of Sponsor, in any event not more than once in any twelve (12) month period, EDH will provide Sponsor an executed copy, from independent auditors engaged and compensated by EDH, of a SOC 1 and SOC 2 examination in accordance with Statement on Standards for Attestation Engagements (SSAE) No. 18 or International Standard on Assurance Engagements (ISAE) No. 3402 (or any successor standards), as applicable, of EDH’s controls and systems relating to the services provided hereunder (each, a “SOC Report”).
SOC Reports. (a) As soon as reasonably practicable following receipt, the Administrator shall furnish the Company with all reports that the Administrator receives from its Subcontractors (for as long as this Agreement is in effect), whether in computerized or paper form, in accordance with Statements on Standards for Attestation Engagements No. 16 and AICPA Professional Standards AT Section 101, as amended by SSAE No. 18 Attestation Standards: Clarification and Recodification, as applicable and / or as they may be amended from time to time, covering such Subcontractor’s business operations, account reconciliation practices, information technology applications and information technology architecture as they relate to this Agreement (each, a “SOC Report”). The Administrator anticipates that it will receive annual SOC Reports from its Subcontractors and that such SOC Reports will be prepared by one of the nationally-recognized accounting firms, and the Administrator shall use it commercially reasonable efforts to enforce any rights the Administrator has to receive any such SOC Reports from its Subcontractors. The Administrator shall use its commercially reasonable efforts, or shall cause its applicable Subcontractors to use their respective commercially reasonable efforts, to remedy as promptly as reasonably practicable any significant deficiencies, material weaknesses or material omissions in internal controls that relate to the Services provided under this Agreement, each at the Administrator’s or its Subcontractor’s expense, as the case may be. Further, commencing on the date hereof and for as long as this Agreement is in effect, within thirty (30) days after the end of each calendar quarter, the Administrator shall deliver to the Company a completed quarterly management representation letter signed by the authorized officers of the Administrator specified in Schedule I to the Company’s Chief Accounting Officer in the form attached as Schedule I, on accounting, reporting, internal controls and disclosure issues that relate to the Services provided under this Agreement in support of the management representation letter to be issued by the Company to its independent accountants.
SOC Reports. As soon as reasonably practicable following receipt, the Service Provider shall furnish the Purchaser with any Service Organization Control (SOC) 1 Type II Report (or substantially similar report in the event the SOC 1 Type II Report is no longer industry standard) that the Service Provider receives from its Subcontractors (for as long as this Agreement is in effect), whether in computerized or paper form, covering such Subcontractor’s business operations, account reconciliation practices, information technology applications and information technology architecture as they relate to this Agreement (each, a “SOC Report”). The Service Provider anticipates that, for Subcontractors that provide a SOC Report to the Service Provider, it will receive annual SOC Reports from such Subcontractors and that such SOC Reports will be prepared by one of the nationally recognized accounting firms, and Service Provider shall use its commercially reasonable efforts to enforce any rights Service Provider has to receive any such SOC Reports from such Subcontractors. The Service Provider shall provide to Purchaser and the Receiving Parties such other publicly available financial information concerning the Service Provider and its Subcontractors as may be reasonably requested by Purchaser or the Receiving Parties. The Service Provider shall use its commercially reasonable efforts, or shall cause its applicable Subcontractors to use their respective commercially reasonable efforts, to remedy as promptly as practicable any significant deficiencies, material weaknesses or material omissions in internal controls, each at the Service Provider’s or its Subcontractor’s expense, as the case may be.
SOC Reports. The Contractor shall submit to the University annually the Service Organization Controls (SOC) reports for the Contractor known as SOC I, SOC 2, and SOC 3, if the Contractor has such reports in its possession.
