Administration Key Holder Agreement
This Agreement is made and entered into this [Day] day of [Month], [Year], (“Effective Date”) by and among [Your Company Name], having its principal place of business at [Your Company Address], hereinafter referred to as “First Party" and [Partner Company Name], having its principal business location at [Partner Company Address], hereinafter referred as "Second Party" (collectively referred to as the "Parties").
1. BACKGROUND AND PURPOSE
The First Party has certain facilities, systems, and data that require secure access. The Second Party, as a trusted and authorized contractor of the First Party, agrees to designate an individual or individuals who will hold and control keys and/or access cards (collectively, “Keys”) to these facilities and systems.
2. KEY HOLDER RESPONSIBILITIES
The Second Party shall use the Keys only for the intended business purpose as necessary to fulfill the obligations of the Second Party to the First Party. Keys shall, at all times, remain the property of the First Party and may be recalled at any time. The Second Party shall promptly report the loss or theft of any Key to the First Party. The Second Party expressly understands allowed uses and restrictions for Keys and agrees to strictly adhere to them.
3. SECURITY
The Second Party agrees to take appropriate measures to ensure the security of the Keys and agrees not to disclose or lend Keys to any unauthorized personnel. The Second Party also acknowledges and confirms that disclosure of Keys to unauthorized parties may lead to a breach of security and may cause damage to the First Party.
4. TERMINATION OF AGREEMENT
In the event of termination of this Agreement or when the Second Party no longer requires the Keys, all Keys must immediately return to the First Party. The Second Party shall return all items in good working condition, normal wear and tear excepted. The failure of Second Party to return all the Keys will cause the First Party to incur replacement costs.
5. INDEMNIFICATION
In the event that the Second Party fails to comply with the obligations that are outlined in this Agreement, it is their responsibility to indemnify or compensate the First Party for any potential losses or costs that may arise as a result of this non-compliance.
SIGNATURES
By signing below, each Party acknowledges that it has read this Agreement, understands it, and agrees to be bound by its terms.
First Party:
[Your Company Representative's Name]
[Month Day, Year]
Second Party:
[Name of Second Party's Representative]
[Month Day, Year]
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