(w) Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, the Guarantor and its subsidiaries’ respective information technology assets and equipment, computers, systems, networks, hardware, software, websites, applications, technology and databases (collectively, “IT Systems”) (i) are adequate for, and operate and perform in all respects as required in connection with the operation of the business of the Guarantor and its subsidiaries as currently conducted, and (ii) are free and clear of all bugs, errors, defects, Trojan horses, time bombs, back doors, drop dead devices, malware and other corruptants, including software or hardware components that are designed to interrupt use of, permit unauthorized access to or disable, damage or erase the IT Systems and data (including all personal, personally identifiable, sensitive, household, confidential or regulated data and information used in connection with their businesses (“Data”)). Without limiting the foregoing, the Guarantor and its subsidiaries have used commercially reasonable efforts to establish and maintain, and have established, maintained, implemented and complied with, reasonable information technology, information security, cybersecurity and data protection controls, policies and procedures, including oversight, access controls, encryption, technological and physical safeguards and business continuity/disaster recovery and security plans that are designed to protect against and prevent breach, destruction, loss, unauthorized distribution, use, access, disablement, misappropriation or modification, or other compromise or misuse of or relating to any IT Systems or Data (each, a “Breach”), except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. There has been no material Breach and neither the Guarantor nor any of its subsidiaries has been notified of or has knowledge of any event or condition that would reasonably be expected to result in any material Breach, nor do they have any incidents under internal review or investigation relating to the same. The Guarantor and its subsidiaries have complied, and are presently in compliance, in all material respects, with all applicable laws and statutes and all judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority, industry standards, internal and external policies, contractual obligations and any other legal obligations, in each case, relating to the collection, use, transfer, import, export, storage, protection, privacy, security, disposal, disclosure or other processing by the Guarantor or any of its subsidiaries of IT Systems and Data (“Data Security Obligations”). The Guarantor and its subsidiaries have not received any notification of or complaint regarding, and are unaware of any other facts that, individually or in the aggregate, would reasonably indicate material non-compliance with any Data Security Obligation by the Guarantor or any of its subsidiaries. There is no action, suit, investigation or proceeding by or before any court or governmental agency, authority or body pending or, to the knowledge of the Guarantor, threatened alleging material non-compliance with any Data Security Obligation by the Guarantor or any of its subsidiaries.
2. Agreements to Sell and Purchase. Each of the Company and the Guarantor hereby agrees to sell to the several Underwriters, and each Underwriter, upon the basis of the representations and warranties herein contained, but subject to the
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