Common use of PRIVACY CLAUSE Clause in Contracts

PRIVACY CLAUSE. 23.1. The Lender shall treat the Borrower’s personal information / data as private and confidential. Nothing about the Borrower’s accounts nor name and address will be disclosed to anyone other than in the following exceptional circumstances: 23.1.1. where the Lender is legally compelled to do so, e.g.: Credit Reference Bureau 23.1.2. where it is in the public interest to disclose such information 23.1.3. where the Lender’s interests require disclosure, e.g.: Employees, Bank and Insurance 23.1.4. where disclosure is made at the Borrower’s request or with the Borrower’s written consent; 23.1.5. where disclosure to any third party by the Lender is necessary to enforce collection or recovery of payments due to the Lender in terms of this Agreement; 23.1.6. where disclosure to any third party by the Lender is necessary to enforce collection or recovery of the Outstanding Loan Balance of each relevant Loan upon the occurrence of an event of default (as defined in clause 15.3) by the Borrower and/or termination of this Agreement; and 23.1.7. where disclosure to any third party is necessary to enable the Lender to vet the Borrower in terms of credit-worthiness in order to give the Lender comfort to proceed with execution of this Agreement or any Further Loan Application Form. 23.2. The Borrower hereby acknowledges and agrees that the Lender may, for the purposes identified in clause 23.1.1 to 23.1.7 above, process the information / data regarding the Borrower, including without limitation, the Borrower’s personal information. 23.3. Processing of information / data by the Lender as referred to above shall mean, without limitation, any action in connection with the information / data, in particular, the collection, acquisition, recording, audio recording, video recording, organising, storage, alteration, restoration, revocation, use, disclosure, transfer, blocking, combination, destruction, dissemination of the information / data received from the Borrower and/or any other third person(s) Remotely or in writing. 23.4. Data processing by the Lender through Remote Channels shall also include recording the Borrower’s activity on such Remote Channels and the use of such collected data at the discretion of the Lender. 23.5. The Borrower acknowledges and agrees that data processing by the Lender is necessary (i) to consider the Borrower’s Loan Application Forms; (ii) for the protection of the Lender’s legal interests; and (iii) for other purposes as determined under the Applicable Law. 23.6. If the Applicable Law requires the Borrower’s consent for the processing of his/her data, any consent given by the Borrower electronically and/or materially shall be considered as duly authorised by the Borrower and be binding for the Parties. 23.7. The Borrower agrees to the Lender receiving, including but not limited to, the personal information and/or data on any applicable Remote Channel and agrees to a third party providing such information and/or data to the Lender for marketing, credit underwriting and/or other commercial purposes considered under these Terms and Conditions.