Common use of Security Event Clause in Contracts

Security Event. Upon any potential or actual known breach of Data or of the Distributor’s obligations with respect to Data, the Distributor will at it’s expense (i) promptly investigate such breach or potential security event, (ii) promptly notify the Fund of such or potential breach if the investigation reveals that Data or service was affected or potentially affected, but no later than [forty-eight (48)] hours after the Distributor becomes aware of it; and (iii) implement necessary corrective actions. For the purpose of this Section “potential breach” shall mean an actual breach where the Distributor suspects the Fund’s Data was materially affected or compromised, a suspected breach where the Distributor reasonably believes that the Fund’s Data was affected or compromised, or an actual breach where the Distributor’s systems were breached and where disclosure would be appropriate, but where the Distributor cannot state with certainty that Fund’s Data has been compromised. “Potential breach” shall not include breaches where the Distributor can easily identify that the Fund’s Data was not compromised. Such corrective actions shall include: (a) performing an analysis to determine the cause of the security breach; (b) providing the Fund with a report detailing the cause of the security breach and the material involved; (c) promptly remedying or mitigating the security breach to a commercially reasonable extent; and (d) reasonable cooperation with the Fund and its designees and with any civil or criminal authority in any investigation, remediation efforts, or action related to the unauthorized, unlawful or accidental access, use, processing, disclosure, transfer destruction, loss or alteration. In the event that the Distributor suspects or confirms a security breach or the existence of a disabling device in any software component of any Services, the Distributor will immediately send notice to the Fund at the following email address: ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇.

Security Event. Upon any potential or actual known breach of Data or of the Distributor’s obligations with respect to Data, the Distributor will at it’s expense (i) promptly investigate such breach or potential security event, (ii) promptly notify the Fund of such or potential breach if the investigation reveals that Data or service was affected or potentially affected, but no later than [forty-eight (48)] ) hours after the Distributor becomes aware of it; and (iii) implement necessary corrective actions. For the purpose of this Section “potential breach” shall mean an actual breach where the Distributor suspects the Fund’s Data was materially affected or compromised, a suspected breach where the Distributor reasonably believes has reason to believe that the Fund’s Data was affected or compromised, or an actual breach where the Distributor’s systems were breached and where disclosure would be appropriate, but where the Distributor cannot state with certainty that Fund’s Data has been compromised. “Potential breach” shall not include breaches where the Distributor can easily identify that the Fund’s Data was not compromised. Such corrective actions shall include: (a) performing an analysis to determine the cause of the security breach; (b) providing the Fund with a report detailing the cause of the security breach and the material involved; (c) promptly remedying or mitigating the security breach to a commercially reasonable extent; and (d) reasonable cooperation with the Fund and its designees and with any civil or criminal authority in any investigation, remediation efforts, or action related to the unauthorized, unlawful or accidental access, use, processing, disclosure, transfer destruction, loss or alteration. Upon the occurrence of a security breach, at the Fund’s request, the Distributor shall provide a list of all individuals who have (or have had) access to the relevant Data. In the event that the Distributor suspects or confirms a security breach or the existence of a disabling device in any software component of any Services, the Distributor will immediately send notice to the Fund at the following email address: ▇r▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇.