Common use of Occurrence Reports Clause in Contracts

Occurrence Reports. Within five (5) days following Provider’s discovery of the occurrence of a security breach or suspicious activity, Provider shall provide Recipient written documentation of the cause, remedial steps and future plans to prevent a recurrence of the same or similar breach or suspicious activity. If such remedial plan is acceptable to Recipient, Provider shall immediately implement the proposed remedial plan or in a mutually agreed upon timeframe. If such remedial plan is unacceptable, based on Recipient’s reasonable judgment, Provider shall promptly but in any event no later than ten (10) days enter into good faith negotiations to address the proposed remedial plan. Provider shall reasonably cooperate with Recipient security investigation activities and with the preparation and transmittal of any notice or any action, which Recipient in its sole discretion may deem appropriate or required by law, to be sent or done for customers or other affected third parties regarding any known or suspected security breach.