Common use of Subsequent Notification Clause in Contracts

Subsequent Notification. The Financial Agent Group has a continuing obligation to search for and to report any potential organizational or personal conflicts of interest. The Financial Agent shall notify the Treasury in writing as soon as practicable, and in no instance later than two (2) business days, after learning of any new or expanded conflicts of interest that arise during the term of the FAA. The disclosure shall describe the steps the Financial Agent has taken or proposes to take to mitigate the potential conflict or request a waiver from the Treasury. • Reviews. The Treasury, on its own behalf or through an entity contracted by the Treasury, may conduct an annual or ad hoc review of the compliance of the Financial Agent Group with all conflicts of interest and confidentiality obligations and responsibilities set forth in the FAA. The Treasury plans to exercise this review authority within the first six (6) months of the signing of the FAA. Additional reviews may be conducted by oversight bodies with explicit authority over the TARP including the Office of the Special Inspector General for the Troubled Asset Relief Program (“SIGTARP”) and the U.S. Government Accountability Office (“GAO”). The Financial Agent Group shall cooperate fully with the Treasury or its designated representative and provide it with any and all such information (in whatever form) requested by it in order to perform such a review.