Common use of Security Event Clause in Contracts

Security Event. i. In the event a Permitted User becomes aware of or suspects any NMLS data, including Public Use Information accessed through NMLS B2B ACCESS℠, has been used, disclosed or accessed by an unauthorized party as a result of an act or omission of a Permitted User, including by Subscriber’s employees, directors, officers, agents, representatives, independent contractors or any third party engaged by Subscriber (a “Security Event”), Permitted User shall immediately notify SRR, investigate in coordination with SRR, and keep SRR informed of the status and findings of the investigation. ii. In the event of a Security Event potentially involving non-public personally identifiable information (“PII”, e.g., social security numbers, driver’s license numbers or dates of birth) that may have been combined with or associated with Public Use Information accessed or used by Subscriber through the Service, Subscriber shall: a) Notify SRR immediately, b) Coordinate notification to appropriate State or Federal agency(ies) with SRR, c) After consultation and in coordination with SRR, notify the individuals whose information was disclosed that a Security Event has occurred, and Be responsible for any other legal obligations arising under applicable law in connection with such a Security Event.