Common use of Reports from Merchant Clause in Contracts

Reports from Merchant. Merchant will provide Bank with updated business and financial information concerning Merchant, including financial statements, tax returns, evidence of required licenses, and other information and documents Bank may reasonably request from time to time. Such information shall be provided no later than five (5)Business Days after Bank’s request and shall be true, complete, and accurate. Merchant acknowledges and agrees that Bank may furnish the information obtained under this Paragraph and any other information related to Merchant’s relationship with Bank and Bank’s experience with Merchant to others seeking the information, including, without limitation, the Card Networks, current and prospective Card Issuers, current and prospective acquirers, or other merchant or sponsor banks, third parties in connection with a potential sale of some or all of Merchant Bank’s or Processor’s merchant portfolio, business, or a merger transaction, regulatory authorities, and other entities to whom Bank or any such entity may be required to provide such information, and to Bank’s and each such entity’s affiliates, agents, subcontractors, and employees for purposes Bank or such other entities deem necessary in Bank’s or their reasonable discretion, including in connection with the performance of their various obligations hereunder or under their other applicable agreements or under the Operating Rules or any applicable law, rule, or regulation. All material marked “confidential” which Bank receives from Merchant will be used only by Bank or Card Network in performing the Card Program services under this Agreement or related services and reporting, or as necessary to comply with any requirements of applicable law or of a Card Network or of any state or federal governmental agency with supervisory authority over Merchant Bank. At any reasonable time, Bank, any Card Network, or any other entity having authority has the right to audit Merchant’s records relating to this Agreement. Merchant understands and agrees that, if at the time of signing this Agreement, Merchant is undergoing a forensic investigation, Merchant must notify Bank of the investigation and must fully cooperate with the investigation until it is completed.

Reports from Merchant. Merchant will provide Bank Provider with updated business and financial information concerning Merchant, including financial statements, tax returns, evidence of required licenses, and other information and documents Bank Provider may reasonably request from time to time. Such information shall be provided no later than five (5)Business 5) Business Days after BankProvider’s request request, and shall be true, complete, and accurate. Merchant acknowledges and agrees that Bank Provider may furnish the information obtained under this Paragraph Section and any other information related to Merchant’s relationship with Bank Provider and BankProvider’s experience with Merchant to others seeking the information, including, without limitation, the Card Networks, current and prospective Card Issuers, current and prospective acquirers, or other merchant or sponsor banks, third parties in connection with a potential sale of some or all of Merchant Bank’s or ProcessorISO’s merchant portfolio, business, or a merger transaction, regulatory authorities, and other entities to whom Bank Provider or any such entity may be required to provide such information, and to Bank’s Provider's and each such entity’s 's affiliates, agents, subcontractors, and employees for purposes Bank Provider or such other entities deem necessary in BankProvider’s or their reasonable discretion, including in connection with the performance of their various obligations hereunder or hereunder, under their other applicable agreements agreements, or under the Operating Network Rules or any applicable lawLaw, rule, or regulation. All material marked “confidential” which Bank Provider receives from Merchant will be used only by Bank Provider or Card Network in performing the Card Program services under this Agreement or related services and reporting, or as necessary to comply with any requirements of applicable law or Law, of a Card Network Network, or of any state or federal governmental agency with supervisory authority over Merchant Bank. At any reasonable time, BankProvider, any Card Network, or any other entity having authority has the right to audit Merchant’s records relating to this Agreement. Merchant understands and agrees that, if at the time of signing this Agreement, Merchant is undergoing a forensic investigation, Merchant must notify Bank Provider of the investigation and must fully cooperate with the investigation until it is completed.