Common use of Internal Security Procedures Clause in Contracts

Internal Security Procedures. Processor and Company agree to (i) adopt and implement commercially reasonable policies, procedures and systems to receive, store, transmit and destroy Consumer-Level ACH Data in a secure manner and to protect against data breaches; and (ii) implement commercially reasonable policies, procedures and systems to detect the occurrence of a data breach within its respective organization. The term “Consumer-Level ACH Data” means a bank account number together with a bank routing number, or a customer’s name together with a customer’s social security number. Processor and Company further agree to comply with any prevention, detection, investigation, and escalation (notification) requirements of any NACHA policies relating to ACH data breach notification requirements and any applicable state or federal laws.

Internal Security Procedures. Processor and Company agree to (i) adopt and implement commercially reasonable policies, procedures and systems to receive, store, transmit and destroy Consumer-Level ACH Data in a secure manner and to protect against data breaches; and (ii) implement commercially reasonable policies, procedures and systems to detect the occurrence of a data breach within its respective organization. The term “Consumer-Level ACH Data” means a bank account number together with a bank routing number, or a customer’s name together with a customer’s social security number. Processor and Company further agree to comply with any prevention, detection, investigation, and escalation (notification) requirements of any NACHA policies relating to ACH data breach notification requirements requirements, and any applicable state or federal laws.