Security Reports and Assessments Clause Samples

The 'Security Reports and Assessments' clause requires one party, typically a service provider, to regularly furnish reports or allow assessments regarding their information security practices. This may involve providing audit results, compliance certifications, or permitting third-party security evaluations to demonstrate adherence to agreed-upon security standards. The core function of this clause is to ensure transparency and accountability in the handling of sensitive data, thereby helping the other party manage risk and verify that adequate security measures are in place.
Security Reports and Assessments. 1. Security Report . Within one hundred eighty ( 180 ) days of the eff e c tive date of the SLA ; and within ten ( 10 ) da ys of each anniversary thereof (or as may otherwise b e reasonably requested by Rep u blic) , Company will deliver to Republic a repor t prepared ( no more than one ( 1 ) year prior to such dat e) by an audit ▇▇▇▇ and such repo r t must desc ri be Company's systems and security controls impleme nt ed and used at the locations involved in Company's provision of the Services governed by the SLA (such report , the "Security Report") . The third - party auditor must be a widely - used and reputable auditor in the financial services industry in the applicable jurisdiction and with respect to the United States must be a national major auditing firm . The Security Report must be a SOC 2 Type II report that has been prepared in accordance with the American Institute of Certified Public Accountants' Trust Service Principles / Criteria (including security, availability, processing integrity, confidentiality, and privacy ) . Where a SOC 2 Type TI report cannot be procured or where it is not a common report in the applicable jurisdiction , Company may provide a mutualJy agreed upon widely accepted equivalent (e . g . , a SOC 2 Type I report during an initial period) . Company will use its best commercially reasonable efforts to cause each Service Provider to also provide Republic a Security Report in accordance with the foregoing requirements . 1.
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Security Reports and Assessments 
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Related to Security Reports and Assessments

  • Environmental Reports Lender shall have received an environmental report in respect of the Property, in each case reasonably satisfactory to Lender.

  • Additional Reports Upon ADMINISTRATOR’s request, CONTRACTOR shall make such additional reports as required by ADMINISTRATOR concerning CONTRACTOR's activities as they affect the services hereunder. ADMINISTRATOR shall be specific as to the nature of information requested and allow up to thirty (30) calendar days for CONTRACTOR to respond.

  • Environmental Reports and Audits As soon as practicable following receipt thereof, copies of all environmental audits and reports with respect to environmental matters at any Facility or which relate to any environmental liabilities of Holdings or its Subsidiaries which, in any such case, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect;

  • Reports and Statements The Lending Agent shall furnish the Client with the reports and statements set forth in the Securities Lending Guidelines or as otherwise agreed from time to time.

  • Environmental Report Lender shall have received an Environmental Report (not more than six months old) with respect to the Property that discloses no material environmental contingencies with respect to the Property.