Common use of PURPOSE AND TERM OF AGREEMENT Clause in Contracts

PURPOSE AND TERM OF AGREEMENT. 2.1 The purpose of this Agreement is to document the terms and conditions for the collection, use, disclosure, retention, safeguarding and destruction of certain Personal Information by the Parties in compliance with FIPPA. 2.2 More particularly, this Agreement provides a framework for the disclosure of PSBC Information to the Applicant and for the collection, use, disclosure, safeguarding and retention, and destruction of all PSBC Information disclosed to the Applicant under this Agreement. 2.3 The Term will begin on the Date of Data Release as indicated on the accompanying letter (and it is an Addendum to this Agreement) from PSBC to the Applicant and will end on the third anniversary of that date, unless this Agreement is sooner terminated or renewed.