- Definitions: All capitalized terms used but not defined in these General Terms and Conditions shall have the meanings given in the Agreement, and these General Terms and Conditions also include those applicable Product T&Cs (as defined in Section 27 of these General Terms and Conditions).
- “Affiliate” means an entity that controls, is controlled by, or is under common control with a Party hereto. For purposes of this provision, "control" means possessing, directly or indirectly, the power to direct, or cause the direction of, the management, policies, or operations of an entity, whether through ownership of voting securities, by contract, or otherwise..
- “Change of Control” means, with respect to a Party, the: (i) sale of all, or substantially all, of the Party’s assets to another party; or (ii) transfer of equity ownership of the Party or the merger of the Party with another party (or similar transaction), such that a person or persons that could not elect a majority of the directors of that Party before such transfer, could elect a majority after the transaction, other than a transfer which occurs in connection with an initial public offering of the shares of such Party.
- “Client Data” means, the data and information input or uploaded into the Enfusion Products (as defined below) by Client or Client Representatives registered to access and use the Enfusion Products. Client is responsible for obtaining any necessary right and licenses for use of the Client Data by Client and Enfusion as contemplated in this Agreement. Client agrees that it has the legal right and authority to access, use and disclose to Enfusion any Client Data. Client authorizes Enfusion to access, process, and use the Client Data as necessary to perform and fulfill its obligations hereunder.
- “Enfusion Products” means the products and services that Client may or has contracted with Enfusion to use or receive or that Enfusion makes commercially available at any time, as amended from time-to-time, provided that Client is responsible to pay for only those Enfusion Products it has agreed to do so in writing.
- “Industry Standard” means a set of commercially reasonable practices that provide a level of care consistent with practices (i) expected by an asset manager portfolio management software provider; (ii) used or adopted by a substantial number of companies of a similar size that are engaged in a similar type of business to manage information of a similar type; (iii) prescribed for use by a governing industry standards body or group; or (iv) established by recognized experts in the field as being acceptable and reasonable.
- “Intellectual Property Rights” means patent rights (including, without limitation, patent applications and disclosures), copyrights, trade secrets, moral rights, know-how, trademarks, and any other intellectual property rights recognized in any country or jurisdiction.
- “Program” means the written or clearly established and exercised processes and procedures for accomplishing common objectives and monitoring such accomplishment, which may be updated from time-to-time.
- “Representatives” means each Party’s and its Affiliates’ respective members, officers, directors, employees, consultants and advisors (including, its internal or external auditors, attorneys, accountants, or other professional advisors or independent contractors pursuant to a confidentiality obligation, whether such obligation is contractual or derived from professional responsibility regulations).
- “Risk Assessment Process” and “Risk Assessment” mean an exercised process used to identify the risks to system security and determine the general likelihood of occurrence, the resulting impact, and identify additional safeguards or modifications that would eliminate or adequately mitigate this impact.
- “Risk Management Program” means the exercised process for identifying, controlling, and mitigating information system related risks. It includes an Industry Standard qualitative or quantitative Risk Assessment Process; cost-benefit analysis; and the selection, implementation, testing, and evaluation of safeguards with the intent to meet the four (4) security goals of Security Assurance.
- “Security Assurance” means grounds for confidence that the four (4) security goals (i.e., integrity, availability, confidentiality, and accountability) have been adequately met by a computer or information system(s) designed and intended to monitor and survey the security of Enfusion’s Software, hardware, and related platform. “Adequately met” means functionality that (i) performs as expected; (ii) provides sufficient protection against unintentional errors (by users of the Software); and, (iii) affords sufficient resistance to intentional penetration, unauthorized access or deletion, or bypass.
- “Usage Data” Enfusion may collect and analyze data and other information relating to the provision, use and performance delivery of the Enfusion Products and related systems and technologies therefrom (“Usage Data”) in order to improve and enhance the Enfusion Products. Insights drawn from Usage Data may be disclosed to Clients and other authorized users of the Enfusion Products in connection with their respective use of the Enfusion Products; provided that, if Enfusion discloses insights drawn from Usage Data, then all Usage Data in such disclosures will be anonymized and aggregated, will not identify Client or Client’s authorized users, and will not be disclosed in a manner that would permit a third party to determine Client’s or Client’s authorized users’ identity.
- “Vulnerability” means a flaw or weakness in computer system functionality, design, implementation, internal controls, or security procedures that could be exercised (accidentally triggered or intentionally exploited) and result in a security breach or a violation of the system’s security policy.
- Interpretation: Unless the context of these General Terms and Conditions, the Agreement, or any relevant Product T&Cs otherwise requires: (i) a capitalized word has the meaning assigned to it by these General Terms and Conditions, the Agreement, or the relevant Product T&Cs; (ii) “or” will be construed such that the series may include any of the items, all of the items, or any combination of the items; (iii) words in the singular include the plural, and words in the plural include the singular; (iv) “hereof,” “hereunder,” “herein,” and “hereto” refer to the entire Agreement (including all exhibits, schedules, addenda, these General Terms and Conditions, and any relevant Product T&Cs) and not any individual section or subsection; (v) references in this Agreement to sections, subsections, other subdivisions, these General Terms and Conditions, Product T&Cs, annexes, addenda, or schedules are references to the sections, subsections, or other subdivisions or Product T&Cs or schedules attached (or incorporated into by reference) to this Agreement; (vi) “in writing” refers to in written or printed form, facsimile transmission, or e-mail; (vii) the terms “include,” “includes,” or “including” are to be construed as “including without limitation;” (viii) the phrase “any reason” is to be construed as “any reason or no reason;” and, (ix) the headings in the Agreement, these General Terms and Conditions, and any relevant Product T&Cs are for reference only and do not limit or otherwise affect the meaning hereof.
- Term: Subject to Section 4(a), this Agreement shall commence on its stated Effective Date and shall continue in force, unless terminated earlier in accordance with this Agreement’s terms, for the Initial Term (as defined in the Master Services Agreement) and thereafter will renew automatically for successive one (1) year periods (each a “Renewal Term” and together with the Initial Term, the “Term”), unless either Party gives the other Party no fewer than thirty (30) calendar days’ prior written notice of the Party’s intent not to renew, or alternatively, if the Agreement is terminated under its terms and conditions.