Common use of SSAE 16 Clause in Contracts

SSAE 16. Unless otherwise agreed to in writing by the parties, Bank will provide Company annually with a copy of latest Bank’s SSAE 16 or equivalent report. In the event the accounting firm performing the audit issues a qualified opinion due to a material weakness or significant deficiency, Bank will promptly advise Company of its plan for remedying such material weakness or significant deficiency and use [*] to mitigate any potential damages or adverse consequences resulting from such material weakness or significant deficiency.