Common use of Unauthorized Access to Borrower Information Clause in Contracts

Unauthorized Access to Borrower Information. In the event Purchaser knows or reasonably believes that there has been any unauthorized access to Borrower Information in the possession or control of Purchaser that compromises (or threatens to compromise) the security, confidentiality or integrity of such Borrower Information, Purchaser shall take the following actions: (1) promptly notify Servicer of such unauthorized access; (2) identify to Servicer what specific Borrower Information may have been accessed, including (if applicable) the name and account number of each affected Borrower; (3) take commercially reasonable steps to remedy the circumstances that permitted any such unauthorized access to occur and promptly notify Servicer of such steps; (4) take commercially reasonable steps to prohibit further disclosure of Borrower Information and promptly notify Servicer of such steps; (5) upon Servicer’s request, share with such other Party the results of any computer forensics analysis of any unauthorized access; and (6) cooperate with Servicer as reasonably necessary to facilitate compliance with any Applicable Laws and regulations regarding unauthorized access of Borrower Information. The Parties agree that any breach or threatened breach of this Section 3.3(b) of this Agreement could cause not only financial harm, but also irreparable harm to Servicer; and that money damages may not provide an adequate remedy for such harm. In the event of a breach or threatened breach of this Section 3.3(b) of this Agreement by Purchaser, Servicer shall, in addition to any other rights and remedies it may have, be entitled to (1) terminate this Agreement and any and all other agreements between Purchaser and Servicer immediately; (2) seek equitable relief, including, without limitation, an injunction (without the necessity of posting any bond or surety) to restrain such breach; and (3) pursue all other remedies Servicer may have at law or in equity. Following the termination of this Agreement, each Party agrees that it will destroy all copies of Confidential Information of the other Party, without retaining any copies thereof, and destroy all copies of any analyses, compilations, studies or other documents prepared by it or for its use containing or reflecting any Confidential Information; provided, however, that each Party may retain such limited copies or materials containing Confidential Information of the other Party for customary document retention and audit purposes, as required by Applicable Law. Any Confidential Information retained pursuant to this provision shall remain subject to the terms of this Agreement.

Unauthorized Access to Borrower Information. In Purchaser will provide Servicer with notice of any violation of the event GLB Act by Purchaser knows or reasonably believes any actual security breach that there has been any unauthorized access to Borrower Information in the possession or control of Purchaser that compromises (or threatens to compromise) the security, confidentiality or integrity of such includes Borrower Information, in each case to the extent that Purchaser shall take the following actions: (1) promptly notify Servicer has actual knowledge of such unauthorized access; (2) identify violation or breach and if and to Servicer what specific the extent such notice to the Borrower Information may have been accessed, including (if applicable) the name and account number of each affected Borrower; (3) take commercially reasonable steps to remedy the circumstances that permitted any such unauthorized access to occur and promptly notify Servicer of such steps; (4) take commercially reasonable steps to prohibit further disclosure of Borrower Information and promptly notify Servicer of such steps; (5) upon Servicer’s request, share with such other Party the results of any computer forensics analysis of any unauthorized access; and (6) cooperate with Servicer as reasonably necessary to facilitate compliance with any is required by Applicable Laws and regulations regarding unauthorized access of Borrower InformationLaw. The Parties agree that any breach or threatened breach of this Section 3.3(b) or Section 3.4 of this Agreement could cause not only financial harm, but also irreparable harm to Servicer; and that money damages may not provide an adequate remedy for such harm. In the event of a breach or threatened breach of this Section 3.3(b) or Section 3.4 of this Agreement by Purchaser, Servicer shall, in addition to any other rights and remedies it may have, be entitled to (1) terminate this Agreement and any and all other agreements between Purchaser and Servicer immediately; (2) seek equitable relief, including, without limitation, an injunction (without the necessity of posting any bond or surety) to restrain such breach; and (32) pursue all other remedies Servicer may have at law or in equity. Following the termination of this Agreement, each Party agrees that it will destroy all copies of Confidential Information of the other Party, without retaining any copies thereof, and destroy all copies of any analyses, compilations, studies or other documents prepared by it or for its use containing or reflecting any Confidential Information; provided, however, that notwithstanding the foregoing, each Party may retain such limited copies or materials containing Confidential Information of the other Party and Borrower Information for customary document retention and audit purposes, purposes or as required by Applicable Law. Any Confidential Information retained pursuant to this provision shall remain subject to the terms of this Agreement.