Common use of Financial Information and Audit Clause in Contracts

Financial Information and Audit. Bank may from time to time request information from Customer in order to evaluate the initiation or continuation of a Service or adjustment of any limits set by this Agreement. Customer agrees to provide the requested financial information immediately upon request by Bank, in the form required by Bank. Customer authorizes Bank to investigate or reinvestigate at any time any information provided by Customer in connection with this Agreement and the Services. Customer agrees to submit to reasonable background checks and provide any other information to Bank that is applicable to any Service and that is necessary for Bank to comply with applicable laws and regulations and Bank’s internal policies and procedures. Bank may, in its discretion, upon providing reasonable advance notice to Customer, conduct an off-site or on-site review of Customer’s operations to ensure compliance with the provisions of any Service. Such review may include but is not limited to a review of the physical area in which Customer creates Check Images, Customer’s security procedures, Customer’s storage and destruction of Original Checks and Customer’s business activities. Without limiting the foregoing, Customer agrees to provide Bank with all information that the Bank Secrecy Act and any other applicable law or regulation that Bank, in its sole discretion, believes it should obtain. If Customer fails to provide Bank with all the information required by law and the provisions of this paragraph, Customer agrees that Bank is not obligated to provide any Service and will not incur any liability for such action or omission. Customer will cooperate fully in providing any information or fulfilling any requests of Bank pursuant to the Services. .

Financial Information and Audit. Bank may from time to time request information from Customer in order to evaluate the initiation or continuation of a Service or adjustment of any limits set by this Agreement. Customer agrees to provide the requested financial information immediately upon request by Bank, in the form required by Bank. Customer authorizes Bank to investigate or reinvestigate at any time any information provided by Customer in connection with this Agreement and the Services. Customer agrees to submit to reasonable background checks and provide any other information to Bank that is applicable to any Service and that is necessary for Bank to comply with applicable laws and regulations and Bank’s internal policies and procedures. Bank may, in its discretion, upon providing reasonable advance notice to Customer, conduct an off-site or on-site review of Customer’s operations to ensure compliance with the provisions of any Service. Such review may include but is not limited to a review of the physical area in which Customer creates Check Images, Customer’s security procedures, Customer’s storage and destruction of Original Checks and Customer’s business activities. Without limiting the foregoing, Customer agrees to provide Bank with all information that the Bank Secrecy Act and any other applicable law or regulation that Bank, in its sole discretion, believes it should obtain. If Customer fails to provide Bank with all the information required by law and the provisions of this paragraph, Customer agrees that Bank is not obligated to provide any Service and will not incur any liability for such action or omission. Customer will cooperate fully in providing any information or fulfilling any requests of Bank pursuant to the Services. .