Laserfiche WebLink
State of Minnesota -U.S. Bank Commercial Card Solutions -Participating Addendum <br />Contract# 75413 Purchasing Card Contract# 75427 Fleet Card <br />Appendix A, Document 3 -U.S. Bank Fleet Card Agreement <br />15. FINANCIAL INFORMATION. Since this Fleet Card Agreement is for an extension of credit with a financial Institution <br />and not a vendor services agreement, Government Entity shall provide information as requested by U.S. Bank to <br />perform periodic credit reviews. Unless such Information Is publlcly available or available through U.S.Bancorp (the <br />parent company of U.S. Bank) or any of its subsidiaries, Government Entity shall provide audited financial statements, <br />prepared by Government Entity's independent certified public accountant, as soon as available and In any event not <br />later than one hundred eighty (180) days after the end of each fiscal year of company. In the event U.S. Bank requires <br />addilional information to conduct its review of company, Government Entity agrees lo provide to U.S. Bank such other <br />information regarding the business, operations, affairs, and financial condition of Government Entity as U.S. Bank may <br />reasonably request. Such information may include, but is not limited to, quarterly financial statements, organizational <br />charts, executive biographies and other formal documentation. <br />16. AGGREGATE PRODUCT CREDIT LIMIT AND ACCOUNT CREDIT LIMITS. Subject to credit approval by U.S. Bank, <br />an account credit limit (an "ACL") for each Account and an aggregate product credit limit (the "PCL") for all Accounts <br />shall be established by U.S. Bank pursuant to this Fleet Card Agreement. <br />A. Revising the PCL. U.S .Bank, at its sole discretion, shall have the right to revise the PCL. U.S. Bank shall provide <br />notice to Government Entity of any decrease in the PCL which results in a revised PCL that Is lower than the <br />aggregate current amount outstanding on all Accounts. Upon such no lice, Government Entity shall have ten (10) <br />days to make a payment to U.S. Bank that Is sufficient to reduce the aggregate current amount outstanding to an <br />amount that is equal to or less than the revised PCL. <br />B. Revising ACLs. U.S. Bank, at its sole discretion, shall have the right to revise any ACL. <br />(i) Government Entity Accounts. U.S. Bank shall provide notice to Government Entity of any decrease in an <br />AGL which results in a revised AGL that is lower than the aggregate current amount outstanding on the Account. <br />Upon such event, Government Entity shall have ten (10) days to make a payment to U.S. Bank on the Account <br />that is sufficient to reduce the aggregate current amount outstanding for such Account to an amount that Is <br />equal to or less than lhe revised ACL. <br />(ii) Fraudulent Activity. U.S. Bank may revise any ACL and/or limit spending activity on any Account for which <br />fraudulent activity is suspected. <br />17. REGISTERED MARKS AND TRADEMARKS. Government Entity and U.S. Bank each recognize that they have no <br />right, title or interest, proprietary or otherwise, in or to the name or any logo, copyright, service mark or trademark owned <br />or licensed by the other Party. Government Entity and U.S. Bank each agree that, without prior written consent of the <br />other Party, they will not use the name or any name, logo, copyright, service mark or trademark owned or licensed by <br />the other Party. <br />18. SURVIVABILITY OF PAYMENT OBLIGATIONS, RIGHTS AND REMEDIES. The obligation of Government Entity to <br />make payments as herein set forth shall continue until fully performed. Any rights and remedies Government Entity or <br />U.S. Bank may have with respect to each other arising out of either Party's performance of services or obligations <br />hereunder shall survive the expiration or termination of this Fleet Card Agreement. <br />19. GOVERNING LAW. The validity, interpretation and performance of this Fleet Card Agreement will be controlled by and <br />construed under the laws of the State of where Government Entity is located (without giving effect to the conflict of law <br />principles thereof) and applicable federal laws. <br />20. NOTICES. Except with respect to notices relating to the status of individual Fleet Cards which may be established in <br />writing between U.S. Bank and Government Entity or a Participant, all notices, requests and other communication <br />provided for hereunder must be directed to the other Party al the respective addresses indicated below and, unless <br />otherwise specified herein, must be in writing, postage prepaid or hand delivered or delivered by lelecopy. Either Party <br />may, by written notice to the other, change its address indicated below. <br />U.S. Bank: <br />U.S. Bank National Association ND <br />Mail Code EP-MN-L26C <br />901 Marquette Avenue <br />Minneapolis, MN 55402 <br />Attn: CPS Contract Services <br />Government Entity: <br />Stale of Minnesota -Department of Administration <br />50 Sherburne Avenue <br />Room 112 <br />St. Paul, Minnesota 55155 <br />Attn: Acquisition Managemenl Specialist <br />21. EMPLOYMENT OF AGENTS. U.S. Bank may, in Its sole discretion, employ agents to perform part or all of its <br />obligations under this Fleet Card Agreement at any time without the consent of Government Entity: provided, however, <br />that such action shall not affect its obligations to Government Entity hereunder. <br />Page 24 of 37