Validation Processes and Reporting Sample Clauses

Validation Processes and Reporting. The Company has completed a review and validation of the LMA Remediation, Escrow Remediation and Advances Remediation undertaken pursuant to the MOU. The Company represents that it utilized the CTO to independently review the population approach, review the remediation via a statistically valid sampling of Mortgage Loans in the Remediation Populations and confirm the Operational Enhancements via review of present day policies and procedures (the “Validation Assurances”).4 The CTO provided a written summary of its findings to the Company that detailed the background of the review, the population approach, the sampling methodology, and the review’s conclusions for the LMA Remediation, Escrow Remediation and Advances Remediation (the “Summary”) and the Company will provide a copy of the Summary to the USTP within 15 business days of the Effective Date. Supporting materials related to the Summary will include policies and procedures, test scripts, and example work papers (the “CTO Materials”). The USTP shall have an opportunity to review the Summary and CTO Materials. Following Ditech’s submission of the Summary and CTO Materials, the USTP shall have 45 days (or as otherwise agreed upon between the Parties) to submit questions, concerns or otherwise respond to the Validation Assurances and results set forth in the Summary and CTO Materials. Such matters shall be submitted to the Company in writing. If the USTP does not raise issues or otherwise respond as set forth in this provision, the Company shall have no further obligations under the MOU. If the USTP submits questions, concerns or otherwise responds to the Validation Assurances and the results set forth in the Summary and CTO Materials, the Company shall submit a response to the USTP within 45 days (or as otherwise agreed upon between the Parties) in writing. If the Company’s response thereto is satisfactory to the USTP, then the Company shall have no further obligations under the MOU. As set forth herein, the Parties agree to work in good faith informally to resolve any disputes arising in connection with the Validation Assurances.
Sample 1
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Related to Validation Processes and Reporting

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  • Security Breach Notice and Reporting The Contractor shall have policies and procedures in place for the effective management of Security Breaches, as defined below, which shall be made available to the State upon request. In addition to the requirements set forth in any applicable Business Associate Agreement as may be attached to this Contract, in the event of any actual security breach or reasonable belief of an actual security breach the Contractor either suffers or learns of that either compromises or could compromise State Data (a “Security Breach”), the Contractor shall notify the State within 24 hours of its discovery. Contractor shall immediately determine the nature and extent of the Security Breach, contain the incident by stopping the unauthorized practice, recover records, shut down the system that was breached, revoke access and/or correct weaknesses in physical security. Contractor shall report to the State: (i) the nature of the Security Breach; (ii) the State Data used or disclosed; (iii) who made the unauthorized use or received the unauthorized disclosure; (iv) what the Contractor has done or shall do to mitigate any deleterious effect of the unauthorized use or disclosure; and (v) what corrective action the Contractor has taken or shall take to prevent future similar unauthorized use or disclosure. The Contractor shall provide such other information, including a written report, as reasonably requested by the State. Contractor shall analyze and document the incident and provide all notices required by applicable law. In accordance with Section 9 V.S.A. §2435(b)(3), the Contractor shall notify the Office of the Attorney General, or, if applicable, Vermont Department of Financial Regulation (“DFR”), within fourteen (14) business days of the Contractor’s discovery of the Security Breach. The notice shall provide a preliminary description of the breach. The foregoing notice requirement shall be included in the subcontracts of any of Contractor’s subcontractors, affiliates or agents which may be “data collectors” hereunder. The Contractor agrees to fully cooperate with the State and assume responsibility at its own expense for the following, to be determined in the sole discretion of the State: (i) notice to affected consumers if the State determines it to be appropriate under the circumstances of any particular Security Breach, in a form recommended by the AGO; and (ii) investigation and remediation associated with a Security Breach, including but not limited to, outside investigation, forensics, counsel, crisis management and credit monitoring, in the sole determination of the State. The Contractor agrees to comply with all applicable laws, as such laws may be amended from time to time (including, but not limited to, Chapter 62 of Title 9 of the Vermont Statutes and all applicable State and federal laws, rules or regulations) that require notification in the event of unauthorized release of personally-identifiable information or other event requiring notification. In addition to any other indemnification obligations in this Contract, the Contractor shall fully indemnify and save harmless the State from any costs, loss or damage to the State resulting from a Security Breach or the unauthorized disclosure of State Data by the Contractor, its officers, agents, employees, and subcontractors.

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