General First Data Responsibilities Clause Samples
The 'General First Data Responsibilities' clause outlines the fundamental obligations that First Data must fulfill under the agreement. Typically, this includes providing specified services, maintaining certain standards of performance, and ensuring compliance with applicable laws and regulations. For example, First Data may be required to process transactions accurately, safeguard customer data, and deliver timely support. The core function of this clause is to clearly define the baseline duties of First Data, ensuring both parties understand expectations and reducing the risk of disputes over service delivery.
General First Data Responsibilities. As and upon the schedule established by RCSI, First Data shall provide the assistance (the “Deconversion Assistance”) that RCSI and any successor owner or holder (collectively, “Transferee”) of a portfolio of Accounts which are or were, at the time held by RCSI, Designated Accounts (collectively, “Transferred Accounts”) may reasonably require in connection with the transfer of the Transferred Accounts and related conversions. First Data’s Deconversion Assistance shall include the Services described in this Article 12. Table of Contents
General First Data Responsibilities. First Data shall identify, track and manage the problems arising from or relating to the Services (“Problem Management” or “Problem Management Services”). Table of Contents First Data shall implement and maintain processes under which a single point of contact has end-to-end responsibility for each problem arising from or relating to the Services in order to minimize redundant contacts with RCSI.
General First Data Responsibilities. With respect to a potential acquisition by RCSI of Accounts after the Effective Date (whether in conjunction with a corporate acquisition or otherwise), upon RCSI’s request, First Data shall assist RCSI in assessing the portion of the acquisition to which the Services will relate and provide other acquisition support, as requested by RCSI (“Acquisition Support Services”). Acquisition Support Services shall be provided within the time frame as reasonably required to support RCSI’s acquisition activities. In connection with such time frame, First Data acknowledges that RCSI may request that First Data personnel be available to render Acquisition Support Services at a location specified by RCSI in as little as twenty-four (24) hours of RCSI’s initial request for the Acquisition Support Services. Acquisition Support Services shall include the following:
(a) support of RCSI’s assessment of the target portfolio and of the Services necessary for converting and/or processing the target portfolio using the Services;
(b) support of RCSI’s assessment of the functionality, capability, performance, and other relevant aspects of the target portfolio’s processing services requirements;
(c) support of RCSI’s assessment of RCSI’s need for Services in connection with the acquisition of the target portfolio;
(d) a comprehensive description to RCSI of potential integration approaches and related complexities, and the potential net economic impact of the acquisition in connection with the Services;
(e) support in RCSI efforts to respond to a request for proposal and related activities; and
(f) any technical and product information concerning the Services and the First Data System required to be provided to the selling/transferring party.