Common use of System Outages Clause in Contracts

System Outages. In the event of unavailability of systems, e.g. Oracle, GTreasury, the Coverholder will temporarily cease BAU payment activities insofar as data from these systems is required. The Coverholder will continue to operate critical payments manually via a working paper process, which the Coverholder will pay directly from online banking systems. If system outages persist beyond one week, the Coverholder will make commercially reasonable efforts to resume processing via a working paper process. The Coverholder will subsequently enter transactions processed manually during the down-time into the system once service is restored, within one week of the system outage event occurring.