Common use of BUSINESS CONTINUITY/DISASTER RECOVERY Clause in Contracts

BUSINESS CONTINUITY/DISASTER RECOVERY. In the event of equipment failure, work stoppage, governmental action, communication disruption or other impossibility of performance beyond BNY Mellon’s control, BNY Mellon shall take reasonable steps to minimize service interruptions. BNY Mellon will implement business continuity and disaster recovery plans designed to minimize interruptions of service and ensure recovery of systems and applications used to provide the services under this Agreement. BNY Mellon shall make reasonable provision for (i) periodic back-up of the computer files and data; and (ii) emergency use of electronic data processing equipment to provide services under this Agreement. Such plans will cover the facilities, systems, applications and employees that are critical to the provision of the services hereunder, and will be tested at least annually to validate whether the recovery strategies, requirements, and protocols are viable and sustainable, and BNY Mellon will provide a high level summary of business continuity test results to Customer upon request. BNY Mellon will remedy any material deficiencies in accordance with BNY Mellon program standards. BNY Mellon shall also, no more than once in a rolling twelve (12) month period, upon reasonable advance written request and at no expense to BNY Mellon, on a mutually agreed date during business hours and subject to BNY Mellon’s facility security policies and availability of personnel, meet with Customers’ subject matter experts in a BNY Mellon clean room to review information security policies, procedures and similar related information; provided that no documentation may be copied, disclosed to any third party, transmitted or removed from BNY Mellon premises except as mutually agreed in writing in advance. Upon reasonable request, BNY Mellon also shall discuss with senior management of the Customers any business continuity/disaster recovery plan of BNY Mellon and/or provide a high-level presentation summarizing such plan.

Appears in 6 contracts

Samples: Custody Agreement (Alger Portfolios), Custody Agreement (Alger ETF Trust), Custody Agreement (Alger Global Focus Fund)

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BUSINESS CONTINUITY/DISASTER RECOVERY. In the event of equipment failure, work stoppage, governmental action, communication disruption or other impossibility of performance beyond BNY Mellon’s 's control, BNY Mellon shall take reasonable steps to minimize service interruptions. BNY Mellon will shall implement business continuity and disaster recovery plans designed to minimize interruptions of service and designed to minimize interruptions of service ensure recovery of systems and applications used to provide the services under this Agreement. BNY Mellon shall make reasonable provision for (i) periodic back-up of the computer files and datadata with respect to Customer; and (ii) emergency use of electronic data processing equipment to provide services under this Agreement. Such plans will cover the facilities, systems, applications and employees that are critical to the provision of the services hereunder, and will be tested at least annually to validate whether the recovery strategies, requirements, and protocols are viable and sustainable, and BNY Mellon will provide a high level summary of business continuity test results to Customer upon request. BNY Mellon will remedy any material deficiencies in accordance with BNY Mellon program standards. BNY Mellon shall also, no more than once in a rolling twelve (12) month period, upon Upon reasonable advance written request notice, and at no expense cost to BNY Mellon, on a mutually agreed date during business hours and subject the Customer retains the right to BNY Mellon’s facility security policies and availability of personnel, meet with Customers’ subject matter experts review in a BNY Mellon clean room BNY Mellon’s business continuity, crisis management, disaster recovery, and third-party vendor management processes and programs (including discussions with the relevant subject matter experts and an on-site review of the production facilities used) related to review information security policies, procedures and similar related information; delivery of the services no more frequently than an annual basis provided that no documentation may be copied, disclosed to any third party, or transmitted or removed from BNY Mellon premises except as mutually agreed in writing in advancewriting. Upon reasonable request, BNY Mellon also shall discuss with senior management of the Customers Customer any business continuity/disaster recovery plan of BNY Mellon and/or provide a high-level presentation summarizing such plan.

Appears in 5 contracts

Samples: Custody Agreement (Federated Hermes ETF Trust), Custody Agreement (Federated Hermes ETF Trust), Custody Agreement (Federated Hermes ETF Trust)

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