Article 7 Termination of the contractual arrangement

when the ICT third-party service provider means an undertaking providing ICT services; implements material changes to subcontracting arrangements regarding the provision of ICT services means digital and data services provided through ICT systems to one or more internal or external users on an ongoing basis, including hardware as a service and hardware services which includes the provision of technical support via software or firmware updates by the hardware provider, excluding traditional analogue telephone services; supporting critical or imporant functions despite the objection and request for modifications to the changes by the financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; referred to in Article 6;

when the ICT third-party service provider means an undertaking providing ICT services; implements material changes to subcontracting arrangements supporting critical or important functions means a function, the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law; before the end of the notice period without explicit approval by the financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations;, as referred to in Article 6;

when the ICT third-party service provider means an undertaking providing ICT services; subcontracts an ICT service means an ICT service as defined in Article 2, point (13), of Regulation (EU) 2019/881; supporting a critical or important function means a function, the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law; not explicitly permitted to be subcontracted by the contractual agreement.