EVERTEC definition

EVERTEC has the meaning set forth in the Preamble.

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EVERTEC means EVERTEC, Inc., a corporation organized under the laws of the Commonwealth of Puerto Rico and any successor entity thereto (it being understood that EVERTEC, Inc. is expected to be converted to a limited liability company organized under the laws of the Commonwealth of Puerto Rico named EVERTEC, LLC, and immediately following such conversion, “EVERTEC” shall mean EVERTEC, LLC).

EVERTEC means EVERTEC, LLC).

Examples of EVERTEC in a sentence

• Customer’s failure to perform these obligations as required shall excuse any failure of EVERTEC to achieve these Critical Service Levels.

• As such, EVERTEC will not be limited in entering into similar agreements with other Persons to provide the same or similar services.

• If to the Company, to: EVERTEC GROUP, LLC GENERAL COUNSEL AND HUMAN RESOURCES SENIOR VICE PRESIDENT ▇▇▇▇ #176, Km 1.3 Cupey Bajo, Rio Piedras Puerto Rico 00926 ▇.▇.

• Nor will EVERTEC have any responsibility or liability in connection with such services or systems not provided by EVERTEC.

• The parties will cooperate with each other and execute such other documents as may be reasonably deemed necessary by EVERTEC to achieve the objectives of this Article Seven.

• EVERTEC DOES NOT MAKE ANY WARRANTIES THAT THE SERVICES WILL NOT BE INTERRUPTED OR ERROR FREE OR AS TO THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE SERVICES AND EVERTEC ASSUMES NO RESPONSIBILITY OR LIABILITY IF TELECOMMUNICATION CARRIERS ARE NOT AVAILABLE AT ANY GIVEN TIME.

• If the Parties do not mutually agree both: (i) that EVERTEC is capable of adequately providing the service under the MSA that gave rise to Popular’s release request, and (ii) upon the amount of the reimbursement to Popular pursuant to the preceding paragraph, the Parties will submit the matter(s) to arbitration in accordance with the Arbitration Procedures.

• Any report under this Section shall include a brief summary of the steps being taken by EVERTEC to remedy such breach.

• EVERTEC acknowledges the requirements of the Interagency Guidelines Establishing Standards for Safeguarding Customer Information issued by bank regulatory agencies on February 1, 2001, regarding the implementation of security measures to safeguard customer information.

• EVERTEC shall be responsible for establishing and maintaining an information security program that complies with the Legal Requirements.

More Definitions of EVERTEC

EVERTEC means EVERTEC, Inc., a Puerto Rico corporation.

EVERTEC has the meaning set forth in the Preamble. “EVERTEC Change of Control” means, with respect to EVERTEC, any: (i) merger, consolidation or other business combination of EVERTEC (or any Subsidiary or Subsidiaries that alone or together represent all or substantially all of EVERTEC’s consolidated business at that time) or any successor or other entity holding all or substantially all the assets of EVERTEC and its Subsidiaries that results in the stockholders of EVERTEC (or such Subsidiary or Subsidiaries) or any successor or other entity holding all or substantially all the assets of EVERTEC and its Subsidiaries or the surviving entity thereof, as applicable, immediately before the consummation of such transaction or a series of related transactions, holding, directly or indirectly, less than fifty percent (50%) of the voting power of EVERTEC (or such Subsidiary or Subsidiaries) or any such successor, other entity or surviving entity, as applicable, immediately following the consummation of such transaction or series of related transactions; provided that this clause (i) shall not be deemed applicable to any merger, consolidation or other business combination if, as a result of any such merger, consolidation or other business combination, no Person or Group of Persons that had not had “control” of EVERTEC immediately prior to such transaction, as such term is defined under the Bank Holding Company Act of 1956, shall have obtained such “control”; (ii) Transfer (other than in the form of a pledge, hypothecation or similar grant of a security interest only and which shall not involve the grant of a proxy or other right with respect to the voting of such equity), in one or a series of related transactions, of equity representing fifty percent (50%) or more of the voting power of EVERTEC (or any Subsidiary or Subsidiaries that alone or together represent all or substantially all of EVERTEC’s consolidated business at that time) or any successor or other entity holding all or substantially all the assets of EVERTEC and its Subsidiaries to a Person or Group of Persons (other than an Transfer of such equity to Apollo Global Management LLC, Popular, any Permitted Ultimate Parent, or their respective Controlled Affiliates); (iii) transaction in which a majority of the board of directors or equivalent governing body of EVERTEC (or any successor or other entity holding all or substantially all the assets of EVERTEC and its Subsidiaries) immediately following or as a proxim...

EVERTEC has the meaning set forth in the Preamble. “Future Deposits” had the meaning set forth in Section 2.2. “Government Entity” means any federal, national, supranational, state, provincial, Commonwealth, local or foreign or similar government, governmental subdivision, regulatory or administrative body or other governmental or quasi-governmental agency, tribunal, commission, court, judicial or arbitral body or other entity with competent jurisdiction. “Improper Release” has the meaning set forth in Section 3.3. “Initial Deposit” has the meaning set forth in Section 2.1. “IP Purchase and Sale Agreement” means that certain IP Purchase and Sale Agreement, dated as of the date hereof, between EVERTEC and Popular. “Law” means any law, statute, ordinance, rule, regulation, code, Order, judgment, injunction or decree enacted, issued, promulgated, enforced or entered by a Government Entity or Self-Regulatory Organization (including, for the sake of clarity, any policy statement or interpretation that has the force of law with respect to any of the foregoing, and including common law). “Losses” has the meaning set forth in Section 8.1 “Master Services Agreement” means the Amended and Restated Master Services Agreement, dated as of the date hereof, among Popular, Banco Popular de Puerto Rico and EVERTEC, as it may be amended, restated or supplemented from time to time. “Material Breach” has the meaning set forth in the MSA. “MBESA” has the meaning set forth in the Recitals. “Merger Agreement” has the meaning set forth in the Recitals. “MSA” has the meaning set forth in the Recitals. “Order” means any order, injunction, judgment, decree, writ or other enforcement action of a Government Entity. “Party” and “Parties” have the meaning set forth in the Preamble.