Common use of Permissible Purpose Clause in Contracts

Permissible Purpose. That each time a request for information or a credit report is made of the Credit Bureau, the SUBSCRIBER’S representative authorized to make such a request will use the information or report solely for a permissible purpose, namely: (1) In connection with a credit transaction involving the consumer on whom the information is to be furnished and involving the extension of credit to, or review or collection of an account of, the consumer; or (2) For employment purposes; and Subscriber agrees to make the employment certification described in section B, “Employment Purposes” below; or (3) In connection with the underwriting of insurance involving the consumer or (4) In connection with a legitimate business need for the information in connection with a business transaction initiated by the consumer or to review an account to determine whether the consumer continues to meet the terms of the account; and the SUBCRIBER agrees to identify to the Credit Bureau each request at the time such report is ordered, and to certify the legitimate business need for such report; or (5) In connection with a determination of the consumer's eligibility for a license or other benefit granted by a governmental instrumentality required by law to consider an applicant’s financial responsibility or status; or (6) As a potential investor or servicer, or current insurer, in connection with a valuation of, or an assessment of the credit or prepayment risks associated with, an existing credit obligation.