Common use of Security Assessment Clause in Contracts

Security Assessment. If IT One reasonably determines, or in good faith believes, that Supplier’s security practices or procedures do not meet Supplier’s obligations under the Agreement, then IT One will notify Supplier of the deficiencies. Supplier will without unreasonable delay: (i) correct such deficiencies at its own expense; (ii) permit IT One, or its duly authorized representatives, to assess Supplier’s security-related activities that are relevant to the Agreement; and (iii) timely complete a security questionnaire from IT One on a periodic basis upon IT One’s request. Security issues identified by IT One will be assigned risk ratings and an agreed-to timeframe to remediate. Supplier will remediate all the security issues identified within the agreed to timeframes. Upon Supplier’s failure to remediate any high or medium rated security issues within the stated timeframes, IT One may terminate the Agreement in accordance with Section 8 above.

Security Assessment. If IT One Buyer reasonably determines, or in good faith believes, that Supplier’s security practices or procedures do not meet Supplier’s obligations under the Agreement, then IT One Buyer will notify Supplier of the deficiencies. Supplier will without unreasonable delay: (i) correct such deficiencies at its own expense; (ii) permit IT OneBuyer, or its duly authorized representatives, to assess Supplier’s security-related activities that are relevant to the Agreement; and (iii) timely complete a security questionnaire from IT One Buyer on a periodic basis upon IT One▇▇▇▇▇’s request. Security issues identified by IT One ▇▇▇▇▇ will be assigned risk ratings and an agreed-to timeframe to remediate. Supplier will remediate all the security issues identified within the agreed to timeframes. Upon Supplier’s failure to remediate any high or medium rated security issues within the stated timeframes, IT One Buyer may terminate the Agreement in accordance with Section 8 above.