Reporting Service. 4.1 As from the Effective Date, the Bank shall, subject to Clause 5 below, use its best efforts to report (also on behalf of the Client) the details of each Reportable Transaction and of any modification or termination of a Reportable Transaction to a Trade Repository within the timeframes set by and in accordance with the EMIR Legislation, it being understood that the Bank may report Transactions to different Trade Repositories and that the Bank may use a third party service provider or an entity affiliated with the Bank to report the relevant information to a Trade Repository. 4.2 Without prejudice to any rights, powers, remedies and privileges provided by law, a failure by the Bank or the Client to comply with any of its obligations under this Agreement shall not constitute an event of default or a termination event under any Transaction or any Master Agreement.
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Sources: Client Reporting Service Agreement, Client Reporting Service Agreement