Common use of Security Event Clause in Contracts

Security Event. If Backup Servicer learns or has reason to believe that PFL's Confidential Information has been disclosed or accessed by an unauthorized party (each, a "Security Event"), Backup Servicer will immediately give notice of such event to PFL to the extent permitted by law or law enforcement authorities. In such notification, Backup Servicer will report on the nature of the incident, the estimated impact on PFL and investigative action taken or planned. Security Events shall include, without limitation, violations of Applicable Law. Notwithstanding anything in this provision, Backup Servicer will also comply fully with all Applicable Law applicable to security breaches. Except as may be required by law or law enforcement authorities, to the extent the breach involves "non-public personal information ", Backup Servicer will not notify any of PFL's customers or potential customers of unauthorized access of such Security Event without PFL's express consent or upon PFL's specific instruction. Backup Servicer will be responsible for the costs of any required notifications.

Security Event. If Backup Servicer learns or has reason to believe that PFL's Confidential Information has been disclosed or accessed by an unauthorized party (each, a "Security Event"), Backup Servicer will immediately give notice of such event to PFL to the extent permitted by law or law enforcement authorities. In such notification, Backup Servicer will report on the nature of the incident, the estimated impact on PFL and investigative action taken or planned. Security Events shall include, without limitation, violations of Applicable Law. Notwithstanding anything in this provision, Backup Servicer will also comply fully with all Applicable Law applicable to security breaches. Except as may be required by law or law enforcement authorities, to the extent the breach involves "non-public personal information ", Backup Servicer will not notify any of PFL's customers or potential customers of unauthorized access of such Security Event without PFL's express consent or upon PFL's specific instruction. Backup Servicer will be responsible for the costs of any required notifications.. (c)