Master Services Agreement (this “Agreement”) is effective as of the latest signature in the Schedule to which this Agreement is attached. The  Client  accepts  and  agrees  to  be  bound  by  the  following  provisions.  The  reference  to  the  “Client”  shall  mean  an  institution  which  will  access and use the Services.

1. Product/Services 
1.1. Mastercard will provide to Client the products or services described in a Schedule to this Agreement (“Services”), which the Parties may enter into from time to time, and upon mutual execution and delivery thereof, pursuant to the terms and conditions of this Agreement and  such  Schedule.    A  Party’s  Affiliate  (as  defined  below)  may  also  enter  into  a  Schedule  from  time  to  time,  in  which  case  the  terms  herein shall apply to such Affiliate as if it were the respective original Party to this Agreement.  In the event that a Client Affiliate ceases to be an Affiliate of Client, any Schedule executed by such entity may continue until completion, but no further Schedules may be entered into by such entity. Unless otherwise stated in a Schedule, in the event of a conflict between this Agreement and such Schedule, such Schedule prevails.  “Affiliate” means, with respect to a Party, a legal entity with regard to which such Party controls, directly or indirectly, the management and policies or the appointment of the majority of the directors of such legal entity, or that such Party is under such control by, or that is under such common control with such Party.
1.2. Mastercard will ensure that all Services be performed by qualified individuals in a professional and workmanlike manner. Mastercard may also use the services of third parties (“Mastercard Suppliers”) or its Affiliates in providing the Services.
1.3. All  insights,  reports,  and  other  materials  provided  by  Mastercard  in  connection  with  the  Services  (“Deliverables”)  may  be  developed  using data, databases, systems, tools and information contained in the Mastercard Data Warehouse, which is comprised of information provided by third parties and may contain certain errors, omissions or inaccuracies.  Subject to Section 1.4, Mastercard shall have no responsibility for any errors, omissions or inaccuracies in the underlying data from the Mastercard Data Warehouse or data otherwise provided by or on behalf of Client or any third party.
1.4. Mastercard represents and warrants that its provision of the Services as set forth in a Schedule, are permitted under (x) all applicable laws  and  regulations,  and  privacy  policies  or  other  statement  or  disclosure,  and  (y)  the  terms  of  Mastercard’s  contracts  with  its  customers, contractors, suppliers or other third parties.
1.5. Client is responsible for: (i) obtaining all consents, information and materials from third parties (other than from Mastercard Suppliers) necessary for Mastercard to provide the Services, or as otherwise required in a Schedule; and (ii) Client’s use of and/or operation of all Deliverables as well as its implementation of any advice or recommendations provided in connection with the Services. Client represents and warrants that: (i) its provision of Client Data, as further defined below to Mastercard or a Mastercard Supplier, or such party’s receipt of Client Data from the Client or another party, in connection with the Services, and (ii) the use, analysis, and processing of such Client Data by Mastercard (and Mastercard Suppliers) to perform the Services as set forth in a Schedule, are permitted under (x) all applicable laws  and  regulations,  and  privacy  policies  or  other  statement  or  disclosure  to  which  such  Client  Data  is  subject,  and  (y)  the terms  of  Client’s contracts with its customers, contractors, suppliers or other third parties.
1.6. After  receipt  of  a  Deliverable,  Client  shall  have  thirty  (30)  business  days  to  provide  Mastercard  with  written  notice  if  the  Deliverable  reasonably does not comply with the specifications set forth in the applicable Schedule.  In such event, Mastercard will re-perform the Services to bring the Deliverables in conformance with the specifications set forth in such Schedule within a reasonable period of time and Client shall reasonably cooperate with Mastercard for any such re-performance.

2. Term
2.1. Unless terminated sooner pursuant to below, this Agreement shall terminate three (3) years from the Effective Date (unless a Schedule remains outstanding, in which case, until the expiration or termination of such outstanding Schedule) with automatic (1) year renewals unless thirty (30) days prior written notice of an intent not to renew is provided by either party (the “Term”). 
2.2. Any Schedule and/or this Agreement may be terminated by one Party upon written notice to the other Party: (i) in the event that such other Party has materially breached an obligation representation or warranty and fails to cure the breach within thirty (30) business days of receiving written notice of the breach; (ii) as of the date on which proceedings are instituted against a Party seeking relief under any bankruptcy, insolvency or similar law; or (iii) in the event that Mastercard no longer offers or provides the Services or products that are the subject of a Schedule.
2.3. In the event a change in law or regulatory requirement, or any proposed change to a Service by a third party provider, prohibits or impairs Mastercard’s  ability  to  provide  a  Service,  or  any  portion  thereof  in  a  territory/ies,  (“Adverse  Change”),  Mastercard  may  suspend  the  provision of the affected Service, or such affected portion thereof, in such territory/ies for the duration of the Adverse Change, as may be necessary for Mastercard to address the Adverse Change. If Mastercard, in its sole discretion, reasonably determines that it is unable to modify the affected Service to address the Adverse Change, Mastercard may (a) modify the Services in a particular Schedule to delete such territory/ies, Products or Services, or (b) terminate the applicable Schedule, upon thirty (30) days’ prior written notice to Client with no further liability to either Party for such termination.
2.4. If    Mastercard decides,  in  its  sole  discretion,  to  discontinue  offering  the  Services,  or  any  portion  thereof,  in  a  territory  for  any  reason,Mastercard  may  elect  to  (i)  modify  the  Services  in  a  particular  Schedule  to  delete  such  territory/ies,  or  Services,  or  (ii)  terminate  the applicable Schedule, upon thirty (30) days’ prior written notice to Client with no further liability to either Party for such termination.

3. Fees, Payment and Taxes 
3.1. Mastercard’s professional fees for the Services will be set forth in the applicable Schedule (“Fees”).  In addition, Client will reimburse Mastercard  for  its  reasonable  travel  and  lodging,  administrative  and  other  out-of-pocket  expenses  (“Other  Costs”).  Mastercard  will  invoice Client via the Mastercard Consolidated Billing System.
3.2. Client acknowledges that any material change in Mastercard’s scope of work set forth in a Schedule, whether as a result of revised Client goals or objectives, other Client requests, changes in law, schedule delays or any other events outside Mastercard’s reasonable control, may  require  revisions  to  the  Fees,  performance  schedule  and/or  other  terms  set  forth  herein,  as  determined  by  Mastercard  in  its  reasonable discretion.  Mastercard will notify Client of any such revisions and may not undertake work relating to the revised Services until Client has executed a written amendment to the applicable Schedule, or otherwise consented to in writing.
3.3. Fees are exclusive of any applicable taxes. All amounts payable under any Schedule are quoted exclusive of sales, use, value-added, and withholding taxes and all customs duties or governmental charges of any kind attributable to the provision of services, or rights granted thereunder, by Mastercard. Client is responsible for any taxes levied on the provision of Services.
3.4. Excluding income taxes relating to any Schedule, Client shall indemnify Mastercard for any such taxes, duties or governmental charges paid by Mastercard in connection with a Schedule.
3.5. Mastercard  will  invoice  Client  in  currency  specified  in  the  applicable  Schedule.  Properly  submitted  invoices  for  which  payment  is  not  received within 30 days of the invoice date shall accrue a late charge of the lesser of (x) 1½% per month or (y) the highest rate allowable by  law,  in  each  case  compounded  monthly  to  the  extent  allowable  by  law.    All  payments  will  be  allocated  first  to  interest,  then  to  expenses, and then to the oldest outstanding fee.

4. License and Use of Deliverables
4.1. Upon full payment of the Fees and Other Costs by Client for the Services set forth in the applicable Schedule, Mastercard hereby grants to Client a perpetual, fully paid-up, nontransferable, non-exclusive license to use the applicable Service and Deliverables, in each case, (x)  without  the  right  to  resell,  assign,  transfer  or  sublicense  such  Deliverables  in  any  way,  and  (y)  solely  for  Client’s  internal  business  purposes, relinquishing Mastercard of any liability for Client’s use of such Deliverables.
4.2. Client retains ownership of Client Data and any other confidential information it provides to Mastercard. Mastercard shall own and be free to use for any purpose any ideas, concepts, general skills, know-how or techniques resulting from or acquired or used in the course of  or  arising  out  of  the  performance  of  the  Services,  including  any  suggestions,  enhancement  requests,  recommendations  or  other  feedback provided by Client relating to the Services. 
4.3. The Services and all Deliverables provided by Mastercard to Client pursuant to the Services, as well as all materials, concepts, processes and methodologies employed by Mastercard or a Mastercard Supplier in connection with the Services, are and will remain the sole and exclusive property of Mastercard (or such Mastercard Supplier).  
4.4. Client  shall  not,  and  shall  not  permit  or  authorize  any  person,  or  other  third  parties  to:  (a)  use  the  Services,  or  any  data  analytics  or  insights in the Deliverables in a manner so as to reverse engineer or aid any other party to reverse engineer the data contained in the Deliverables; (b) create derivative works based on the Services, the Deliverables, or Mastercard's intellectual property; (c) copy, frame or  mirror  any  part  of  the  Services,  the  Deliverables,  or  Mastercard's  intellectual  property;  (d)  access  the  Services  or  Mastercard's intellectual property in order to build a competitive product or service, or to copy any features, functions, or graphics of such Services, the Deliverables, or Mastercard's intellectual property; (f) except as expressly permitted under the applicable Schedule, copy, modify, or reproduce  the  Services,  Deliverables,  or  Mastercard's  intellectual  property  in  any  way.    Client  shall  not  remove  any  identification,  copyright or proprietary or other notices from the Deliverables, or any copies thereof. Client shall not use any Deliverable in a manner that would violate any applicable law, regulation, or third party rights.
4.5. Client  grants  Mastercard  a  worldwide,  fully  paid-up  license  to  copy,  display  and  use  Client’s  name  and  logo  (“Client  Marks”):  (i)  as  necessary to perform Services; (ii) to identify Client as a customer of Mastercard and its Affiliates on its website and marketing materials; and (iii) with Client’s prior written approval, to issue publicity or announcements concerning Mastercard’s engagement with the Client for the purpose of a case study or investor relations announcements.  Client warrants and represents to Mastercard that Client owns all right, title, and interest in and to Client’s Marks and has the authority to license to Mastercard the rights granted hereunder. Except as otherwise set out in this Agreement or a Schedule, each Party will obtain the written consent of the other Party prior to the issuance of any press release, announcement or any other form of publicity, concerning this Agreement or a Schedule.
4.6. Client shall not use the Services to engage in Dynamic Pricing or Algorithmic Pricing practices that may result in discriminatory pricing, exploit consumer vulnerabilities, or otherwise constitute unfair, deceptive, or abusive acts or practices. This includes, without limitation, pricing or offers strategies that rely on Personal Data to infer protected or behavioral characteristics, or that adjust prices or offers based on  surveillance  or  profiling  techniques  without  appropriate  disclosure.  Client shall  further  refrain  from  using  the  Services  to  design,  implement, or facilitate Dark Patterns. For purposes of this Agreement and any Schedule(s):
(i) “Dynamic Pricing” means pricing that fluctuates based on real-time or contextual conditions, including consumer Personal Data.
(ii) “Algorithmic Pricing” means pricing mechanisms that use automated decision-making systems, including machine learning models, to personalize or adjust prices of offers based on consumer data.
(iii) "Dark Patterns" means interface or system design practices that materially distort or impair, either intentionally or in effect, the ability of consumers to make autonomous and informed choices and may cause harm.

5. Compliance with Laws
5.1. The Parties shall ensure that their respective obligations under this Agreement and any Schedule(s) and business activities related thereto are  performed  in  accordance  with  all  applicable  laws  and  regulations,  including,  but  not  limited  to,  all  applicable  anti-bribery  and  corruption laws and other applicable laws. Client shall not export, directly or indirectly, any Deliverables acquired from Mastercard under this  Agreement  or  any  and  all  Schedule(s)  to  any  country  for  which  the  U.S.  Government  or  any  agency  thereof  at  the  time  of  export  requires an export license or other government approval without first obtaining such license or approval.
5.2. The  Parties  will  comply  with:  (i)  all  applicable  international,  federal,  state,  provincial  and  local  laws,  rules,  regulations,  directives  and  governmental requirements relating in any way to the privacy, confidentiality or security of Personal Data including, but not limited to,EU General Data Protection Regulation 2016/679;California Consumer Privacy Act (Cal. Civ. Code 1798.100 et seq.); the Gramm-Leach-Bliley  Act;  laws  regulating  unsolicited  email  communications;  security  breach  notification  laws;  laws  imposing  minimum  security  requirements; laws requiring the secure disposal of records containing certain Personal Data; and all other similar international, federal, state,  provincial,  and  local  requirements,  and  (ii)  the  Payment  Card  Industry  Data  Security  Standards,  in  each  case,  to  the  extent  they  apply  to  the  Services.  Subject  to  any  applicable  law,  Client  agrees  that  Mastercard  may  transfer  data  to  any  country  in  which  any  Mastercard Affiliate does business.
5.3. The  Data  Processing  Agreement  (“DPA”)  currently  located  at Data  Processing  Agreement  (https://vault.pactsafe.io/s/294cfd22-c6b3-4fb2-9cd7-486000c5e0c6/uc0do2rtk.html) will apply to all Processing of Personal Data subject to Privacy and Data Protection Law (as these terms are defined in the DPA) in the context of this Agreement. The terms of the DPA are expressly incorporated by reference into this Agreement, and will prevail over any contradictory term otherwise contained in this Agreement solely with respect to the Processing of Personal Data subject to Privacy and Data Protection Law. To the extent Europe Data Protection Law applies and notwithstanding any other term in this Agreement, Mastercard Europe SA is entering into this Agreement solely for the purpose of compliance with Europe Data Protection Law and does not have any other obligations to Client in respect of this Agreement.

6. Indemnification; Limitation of Liability
6.1. Each party shall defend, indemnify and hold harmless the other party, and its employees, officers, agents, Affiliates, representatives, and contractors from and against any claims, demands, loss, damage or expense (including reasonable attorneys’ fees) relating to or arising solely out of third party claims: (i) relating to such indemnifying party’s acts of gross negligence or willful misconduct in connection with its performance under this Agreement or a Schedule, including contractual liabilities and, when Belgium is the applicable Governing Law Jurisdiction  under  Section  9.14, extra-contractual  liabilities,  or  (ii)  in  the  case  of  Client,  third  party  claims  relating  to  the  use  of  Deliverables or combination, modification or use of the Deliverables with materials not provided by Mastercard or materials required by Client to be included in the Deliverables. When Belgium is the applicable Governing Law Jurisdiction, and to the extent permitted by law, both  Parties  expressly  waive  any  right  to  claim  extra-contractual  liability  directly  against  any  employee  or  director  of  the  other  Party  acting solely on behalf of their respective Party in the performance or execution of this Agreement or a Schedule.
6.2. NOTWITHSTANDING ANY OTHER PROVISION TO THE CONTRARY SET FORTH IN THIS AGREEMENT, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER UNDER ANY LEGAL THEORY, TORT, CONTRACT, OR STRICT LIABILITY, FOR ANY SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL,  PUNITIVE  OR  EXEMPLARY  DAMAGES,  FOR  LOSS  OF  PROFITS,  GOODWILL,  OR  ECONOMIC  LOSS,  REGARDLESS  OF  WHETHER A PARTY KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES; PROVIDED, HOWEVER, THAT A PARTY’S WAIVER OF ITS RIGHT TO RECEIVE SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES SHALL NOT APPLY IN THE EVENT OF A BREACH OF A PARTY’S CONFIDENTIALITY OBLIGATIONS DESCRIBED IN SECTION 7.EXCEPT AS SPECIFICALLY DESCRIBED HEREIN, Mastercard MAKES NO WARRANTIES, EXPRESS OR IMPLIED, CONCERNING THE SERVICES AND  THE  DELIVERABLES  AND  WITHOUT  LIMITATION,  Mastercard  HEREBY  EXCLUDES  AND  DISCLAIMS  ALL  EXPRESS  OR  IMPLIED  WARRANTIES AND CONDITIONS TO THE EXTENT PERMITTED BY LAW, INCLUDING BUT NOT LIMITED TO, (A) ANY IMPLIED WARRANTY OF MERCHANTABILITY, (B) COURSE OF DEALING, (C) NON-INFRINGEMENT, OR (D) FITNESS FOR A PARTICULAR PURPOSE.  
6.3. Except  with  respect  to  (a)  the  parties’  indemnification  obligations  under  Section  6.1  of  this  Agreement;  or  (b)  Client’s  breach  of  its  obligations  under  Sections  3  or  4  of  this  Agreement,  the  maximum  aggregate  liability  of  any  Party  arising  out  of  or  relating  to  this  Agreement  or  any  Schedule,  whether  it  arises  by  statute,  contract,  tort  or  otherwise,  shall  not  exceed  the  amount  of  the  Fees or  the  value  of  the  Services  and  Deliverables    in  the  Schedule  under  which  the  claim  is  brought.  If  no  such  fees  or  value  of  the  Services  and  Deliverables is stated in the Schedule, then such maximum aggregate liability shall be limited in all respects to US$50,000 over the term of such Schedule. Nothing in this Agreement excludes or limits the liability of either Party for (a) death or personal injury caused by its negligence, (b) any matter which it would be illegal for the Party to exclude or attempt to exclude its liability, or (c) fraud or fraudulent misrepresentation.

7. Confidentiality
7.1. “Confidential Information” means the provisions of this Agreement and the Schedule(s) and any information, Deliverables, insights, Client Data, Mastercard Supplier data, reports, data, materials, processes, methodologies and concepts, in whatever form embodied (e.g., oral, written,  electronic)  owned  by  Mastercard  or  Client,  including  Personal  Data  and  any  non-public  information  about  individuals  or  consumers of Mastercard or Client and/or their Affiliates, no matter how or by what party such information, materials, or concepts were transmitted, disclosed,  directly  or  indirectly  by  either  Party  in  the  course  of  discussions,  provisioning  of   Deliverables  or  other  work  undertaken  between  the  Parties  during  the  performance  of  these terms  and  conditions  or  an  SOW.  “Personal  Data”  means  any  information relating to an identified or identifiable individual, regardless of the media in which it is contained.  
7.2. During  the  Term  and  for  a  period  of  seven  (7)  years  thereafter  (except  for  non-public  information  about  individuals  or  consumers  of  Mastercard and/or Client, which shall be maintained in confidence indefinitely), the Party receiving Confidential Information (“Receiving Party”)  from  the  other  Party  (“Disclosing  Party”)  shall  maintain  the  Confidential  Information  in  strict  confidence  and  shall:  (i)  use  
Confidential  Information  only  as  authorized  in  accordance  with  a  Schedule;  (ii)  not  copy  any  Confidential  Information  except  as authorized in accordance with a Schedule; (iii) not disclose Confidential Information to any third party except as expressly permitted in writing by the Disclosing Party and then only if such third party has executed a confidentiality, privacy and data protection obligations no  less  restrictive  than  those  set  forth  herein;  and  (iv)  limit  dissemination  of  Confidential  Information  to  employees  or  MastercardSupplier with a “need to know” and who are subject to confidentiality, privacy and data protection obligations no less restrictive than those set forth herein.
7.3. Except with respect to Personal Data, Confidential Information shall not include any information which: (i) is already in the public domain at the time of disclosure through a source other than the Receiving Party; (ii) enters the public domain after disclosure through no fault of the Receiving Party; (iii) is already known to the Receiving Party at the time of disclosure (as evidenced by written records); (iv) was independently developed by the Receiving Party without use of or reference to any Confidential Information (as evidenced by written records); or (v) is subsequently disclosed to the Receiving Party by third parties having no obligation of confidentiality to the Disclosing Party. 
7.4. Upon  the  written  request  of  the  Disclosing  Party,  the  Receiving  Party  shall  securely  destroy  or  render  unreadable  or  undecipherable, each and every original and copy in every media of all Confidential Information in the Receiving Party’s possession, custody or control (with certification of destruction). The foregoing shall not apply to the extent information must be retained pursuant to applicable legal or  regulatory  requirements  or  for  purposes  of  the  Receiving  Party’s  commercially  reasonable  disaster  recovery  procedures,  provided  such information shall continue to be subject to Section 7. 

8. Platforms
8.1. If and to the extent the Schedule includes the Client’s use of Mastercard's and/or its vendors’ technology platforms that are identified as platforms and/or made available by Mastercard in connection with services provided by Mastercard to Client through the Schedule (“Platform”), the below provisions of this Section 8 will apply. As it relates to any Platform, the below provisions of this Section 8 will control in the event of any conflict with the other sections of these terms and conditions.  
8.2. Platform Access. Subject to the terms and conditions contained herein and in a Schedule, Mastercard grants Client a limited, revocable, non-sublicenseable, non-exclusive, non-transferable right to permit its authorized users to access the Platform(s) for the purposes and term set forth in the Schedule. Client’s use of a Platform is subject to the restrictions and limitations set out in the Schedule, which may limit the amount and type of data and users and the Client’s permitted territory of use. Mastercard or Mastercard Supplier will host and retain control of the Platform(s) and will provide Client’s authorized users with access to use a Platform. A Platform is not considered a Deliverable and no rights in or related to a Platform are deemed granted. For any Platform, the only Deliverables will be the tangible reports  and  output  specific  to  Client. Mastercard  may,  at  any  time,  suspend  or  terminate  the  Client’s  access  to  the  Platform(s)  at  its  discretion in the event of a breach by Client of the provisions of this Agreement or relevant Schedule (provided that such suspension or termination shall not in and of itself constitute a termination of this Agreement or the applicable Schedule) and in the event that the Client’s access to the Platform(s) is suspended as aforesaid, Mastercard will not be obligated to return any Confidential Information in its possession, custody or control to the Client.
8.3. Usage. Client will use a Platform only for its own internal purposes and by users authorized pursuant to a Schedule. Client will not: (a) use a Platform or its outputs either directly or as a service bureau for any third party; (b) sublicense, distribute, transfer, or otherwise make available to any third party (including any contractor, franchisee, or agent) access to or use of a Platform without Mastercard’s prior  written  consent  (which  may  be  conditioned  on  such  third  party  executing  an  agreement  with  Mastercard); (c) access or use (or permit the access or use of) a Platform in order to: (i) build a similar or competitive product or service (or contract with a third party to do  so);  or  (ii)  build  a  product  using  similar  ideas,  features,  functions  or  graphics  of  a Platform;  or  (iii)  copy  any  features,  functions  or  graphics  of  or  in  a  Platform;  and/or  (d)  derive  specifications  from,  reverse  engineer,  reverse  compile,  modify,  disassemble,  translate, record, or create derivative works based on a Platform. 
8.4. Users.  Client  shall  limit  its  authorized  users  only  to  employees,  agents/  contractors  or  who  are  bound  in  writing  to  maintain  the  confidentiality of a Platform unless otherwise agreed in writing by Mastercard.  Client will provide Mastercard the information necessary to  enable  Mastercard  to  establish  usernames  for  authorized  users.  Client  will  appoint  one  or  more  administrative  users  to  manage  Client’s user accounts. Client is responsible for: (a) maintaining the confidentiality of all usernames and passwords; and (b) the acts and omissions of any person to whom it provides or permits access to a Platform. Mastercard may suspend or terminate access for any user who violates the Agreement or relevant Schedule.
8.5. Client Data. Client will be solely responsible for any Client Data provided to Mastercard for use in a Platform. Client agrees that the timely provision of access to a Platform shall be dependent upon Client providing the required Client Data under an applicable Schedule.
8.6. Support.  Mastercard  will  support  a  Platform  through  regular  maintenance  procedures,  such  as  monitoring  of  servers,  review  of  disk  space  usage  and  database  fragmentation,  addition  of  commercially  available  security  patches  and  upgrades,  and  review  of  event  log files. Mastercard may update a Platform from time to time in its sole discretion as part of its ongoing mission to improve such Platform.
8.7. Client  Responsibility.  Client  acknowledges  and  agrees  that,  with  respect  to  its  use  of  a  Platform,  the  purchase  and  installation  of  appropriate  computer  and  communication  equipment,  operating  systems  and  all  necessary  connectivity  are  the  sole  cost  and  responsibility  of  Client.    Client  shall  institute  security  measures  necessary  to  safeguard  any  remote  access  to  a  Platform  from  unauthorized  access  by  persons  other  than  its  authorized  users.    Client  shall  notify  Mastercard immediately  and  assist  Mastercard in remedying any instance of unauthorized access to, or use of, a Platform.
8.8. Ownership. Mastercard  retains  all  right,  title,  and  interest  in  and  to  all  current  and  future  versions  of  all  Platforms  (including  any  algorithms,  documentation,  data  models,  and  user  interfaces  therein  or  related  thereto)  and  any  other  know-how,  processes,  techniques,  concepts,  methodologies,  tools,  or  intellectual  property  Mastercard  uses  in  performing  hereunder,  even  if  provided  or  developed as a result of performing services related to a Platform and all technology, algorithms, and data models relating thereto, even 
if  provided  or  developed  as  a  result  of  performing  under  an  Schedule  for  Platforms.  All  of  the  foregoing  will  be  deemed  MastercardConfidential  Information.  Client’s  rights  to  use  any  Platform  are  strictly  limited  to  those  granted  in  the  applicable  Schedule  for  Platform(s), and all rights in a Platform not expressly granted to Client are reserved to Mastercard.
8.9. Modifications. Client may, from time to time, request modifications or customizations to a Platform. Mastercard, in its sole discretion, shall  determine  whether  to  perform  such  modifications  or  customizations  and,  if  so,  any  such  modifications  or  customizations,  and related fees and charges, shall be set forth in a separate mutually executed Schedule and/or amendment and all resulting modifications and customizations shall remain the property of Mastercard.
8.10. Feedback.  Client  may,  from  time  to  time,  provide  suggestions,  comments,  feedback  or  other  input  to  Mastercard  with  respect  to  a  Platform, Mastercard may freely use such feedback as it sees fit in perpetuity, entirely without obligation or restriction of any kind on account of intellectual property rights or otherwise, provided that Client is not identified as the source of such feedback.
8.11. Claim. If a Platform is or, in Mastercard’s opinion, likely to become the subject of any infringement-related claim, Mastercard will use its reasonable efforts to: (a) procure the right for Client to continue to use such Platform or (b) replace or modify such Platform so that it is no longer subject to a claim, but is functionally equivalent in all material respects. If neither (a) nor (b) is commercially reasonable, Mastercard may terminate any affected Schedules and refund to Client any prepaid but unused fees thereunder. For the avoidance of doubt, this Section 8.11 states Mastercard’s entire liability, and Client’s exclusive remedy, with respect to any claim of infringement of the intellectual property rights of a third party.

9. General Terms
9.1. No Advice. Client agrees and acknowledges that Mastercard will not provide any legal, regulatory or compliance advice in the course of provision of Services, which shall be the sole responsibility of the Client. Mastercard may provide certain proposed materials and make certain  recommendations  in  connection  with  this  Agreement  or  a  Schedule.  Client  acknowledges  and  agrees  that  the  Deliverables, including the recommendations suggested by Mastercard in connection with a Schedule, do not constitute legal or investment advice and Mastercard  does  not  otherwise  warrant  that  execution  of  any  recommendations  or  guidelines  contained  in  the  Deliverables  will  result  in  compliance  with  applicable  laws  or  will  be  up  to  date,  complete  or  accurate  at  the  time  of  any  such  execution.  Client  is  responsible for reviewing and evaluating the appropriateness of these same materials and recommendations, as well as any decisions made or actions taken by Client in response to such proposed materials and recommendations to Client, against Client’s risk-tolerances and/or  other  criteria.  Mastercard  makes  no  warranty  or  guarantees  that:  (a)  any  assessment  and  recommendations  arising  from  the  Services will be effective; or (b) the Services may provide statistically significant results with respect to any analysis, whether as a result of  the  fact  that  relevant  data  does  not  support  the  drawing  of  statistically  significant  results  or  because  the  data  was  corrupted,  inaccurate, or incomplete in any way.
9.2. Data     Use.     Notwithstanding     anything     to     the     contrary     in     this     Agreement,     Client     authorizes     Mastercardto:(a) Process, including, where necessary, to aggregate or anonymize, Client Data to effectuate the delivery of the Services; (b) use Client Data for the following business purposes and in compliance with all applicable laws: (i) in connection with Mastercard's internal  operations,  including  for  legal,  accounting,  or  auditing  purposes;  (ii)  to  maintain  and  improve  the  quality  of  Mastercard's services; (iii) to develop, improve and deliver existing and new products or services; and (iv) to secure Mastercard’s personnel, products, or  systems and to  conduct risk  management,  including  fraud  monitoring  and  prevention.  With  respect  to  each  of  the  activities  in  this  Clause  9.2,  Mastercard  will  not  disclose  any  Client  Data to  any  third  party  unless  such  Client  Data  does  not  identify  any  individual  or  Client; and (c)  anonymize Client  Data,  and  aggregate  it  with  other  data  collected  by  Mastercard,  to  create  compilations,  reports,  analyses  and  insights, provided that such compilations, reports, analyses and insights do not identify, or attempt to identify, any individual or Client.  “Process” has the meaning given to it under applicable Privacy and Data Protection Law.“Client  Data”  means,  individually  and  collectively,  all:  (i)  Client  Confidential  Information;  (ii)  other  data,  records,  files,  content  or information, in any form or format, acquired, accessed, collected, received, stored or maintained by Mastercard or its affiliates from to time or on behalf of Client or its affiliates, or otherwise in connection with this Agreement, the Services, or the parties’ performance of or exercise of rights under or in connection with this Agreement; and (iii) information derived from (i) or (ii).  Client Data does not include data  that  Mastercard  collects  in  connection  with  the  activities  Mastercard  undertakes  pursuant  to  the  Mastercard  Rules,  which  such  activities are governed exclusively by the Mastercard Rules.
9.3. Applicable Standards. Mastercard and Client acknowledge and agree that the analyses and data included in the Services shall be subject to  all  relevant  laws  and  regulations  for  each  applicable  country,  as  well  as  Mastercard’s  contractual  obligations  and  internal  confidentiality, privacy, and data analytics guidelines and policies (“Applicable Standards”). In no event will Mastercard be obligated to supply or share any information or data which Mastercard determines, in its sole discretion, would cause Mastercard to be in violation of  any  such  Applicable  Standards.  Mastercard  reserves  the  right,  in  its  sole  discretion,  to  apply  adjustments  in  order  to  achieve  conformance with such Applicable Standards.  
9.4. Notice.  Any notice shall be in writing and shall be addressed to the Party entitled to such notice at the address indicated below such Party’s name as it first appears above in this Agreement and shall be given by (a) an overnight registered mail or courier delivery service or (b) email transmission (other than notice of breach, termination or intellectual property claim). Any notice given under sub-clause (a) shall be deemed to have been received three calendar days after mailing, and any notice given in accordance with sub-clause (b) shall be deemed to have been received one calendar day after its transmission by email.
9.5. Force Majeure.  Neither Party shall be liable for loss or damage or be deemed to be in default under this Agreement or a Schedule if its failure to perform its obligations results from or is attributable to any act of God, natural disaster, fire, strike, embargo, war, threat of terrorism,  insurrection,  riot  or  other  cause  or  circumstance  beyond  the  reasonable  control  of  the  Party;  provided  however  that  the  
foregoing shall not excuse any failure to exercise diligence by a Party to minimize the scope, extent, duration and adverse effect of any such delay in performance, on the other Party.
9.6. Waiver. A failure or delay of either Party to enforce any provision of or exercise any right under this Agreement or a Schedule shall not be construed to be a waiver. No waiver by a Party or any amendment to this Agreement shall be effective unless expressly made in a signed writing, which writing shall not be an e-mail.
9.7 Severability. If any provision of this Agreement or a Schedule are held by a court of competent jurisdiction to be unenforceable or invalid in any respect, such unenforceability or invalidity shall not affect any other provision, and this Agreement or such Schedule shall then be construed as if such unenforceable or invalid provisions had never been part thereof.   
9.8. Headings.  The  captions  are  included  for  convenience  only  and  shall  not  affect  the  meaning  or  interpretation  of  the  terms  of  this  Agreement or a Schedule.
9.9. Survival.  All  representations  and  warranties,  and  all  commitments  to  indemnify,  defend,  hold  harmless,  or  relating  to  confidentiality, limitations on liability, rights and obligations upon termination, and jurisdiction, and any other provision by its nature that is meant to survive shall survive any termination of these this Agreement.
9.10. Assignment. This Agreement or any Schedule shall not be assigned by either Party without the prior written consent of the other Party, which consent will not be unreasonably withheld, provided that Mastercard may assign its rights and obligations under this Agreement to  an  Affiliate  without  prior  written  consent  of  Client.  Any  assignment  or  delegation  made  without  the  appropriate  express  written approval as required herein shall be null and void. Nothing in this Agreement or a Schedule is intended to confer any benefit on any third party (whether referred to herein by name, class, description, or otherwise) or any right to enforce a term of this Agreement or such Schedule.
9.11. Entire Agreement. This Agreement, including any Exhibits, and any Schedule evidence the entire agreement and understanding between Mastercard  and  Client  with  respect  to  the  transactions  contemplated  in  such  Schedule  and  supersedes  all  prior  agreements,  representations, statements, negotiations and undertakings between the Parties, whether oral or written, concerning such transactions, except in respect of any fraudulent misrepresentations made by either Party.
9.12. Remedies. Unless otherwise expressly provided herein, any remedies stated herein are non-exclusive. In addition to these remedies, the Parties shall be entitled to pursue any other remedies that they may have at law or in equity.
9.13. Authority.  Each Party represents and warrants to the other Party that it has all necessary corporate power and authority to enter into the Agreement (and any Schedules that it executes) and comply with its obligations thereunder and, when executed and delivered, the Agreement and each Schedules that it executes shall be such Party’s legal, valid and binding obligation enforceable in accordance with its terms.
9.14. Governing Law; Venue.
This Agreement and all Schedules and the respective rights and obligations of the Parties shall be governed by the laws of the applicable Governing  Law  Jurisdiction  (as  set  out  in  the  table  below)  without  reference  to  its  conflict-of-laws  or  similar  provisions    that    would    mandate  or  permit  application  of  the  substantive  law  of  any  other  jurisdiction.  The  courts  located  in  the  applicable  Governing Law Jurisdiction (as set out in the table below) shall have the exclusive jurisdiction over any actions or disputes related to this Agreement and any applicable Schedule.