Company: BPOPM
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001193125-25-043848
Chunk: 50

Company: POPULAR, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1A
Chunk 50
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has agreed to provide certain transition assistance to
us in 
connection with
the termination of
the MSA,
we are
ultimately dependent on
their ability
to provide
those services
in a
responsive 
and competent manner,
as well as to
retain experienced personnel to provide
the services. Furthermore, we may
require transition 
assistance from
Evertec beyond
the term
of the
MSA, delaying
and lengthening
any transition
process away
from Evertec
while 
increasing related costs. 

Under the
MSA, we
are able
to terminate
services for
convenience with
180 days’
prior notice.
We expect
to exercise 
during the
term of
the MSA
the right
to terminate
certain services
for convenience
and to
transition such
services to
other service 
providers prior to the expiration
of the MSA, subject to
complying with the revenue minimums contemplated in
the MSA and certain 
other conditions. In
practice, in order
to switch
to a
new provider for
a particular service,
we will have
to commence procuring
and 
working on
a transition
process for
such service
significantly in
advance of
its termination
and, in
any case,
much earlier
than the 
automatic renewal notice date or the expiration date of
the MSA, and such process may extend beyond the current
term of the MSA. 
Furthermore, if
we
are
unsuccessful or
decide not
to
complete
the transition
after
expending significant
funds
and
management 
resources, it could also result in an adverse
effect on our business, financial condition and results
of operations. 
LEGAL AND REGULATORY RISKS 
Our
businesses
are
highly
regulated,
and
the
laws
and
regulations
that
apply
to
us
have
a
significant
impact
on
our 
business and operations. 
We are subject to extensive and evolving regulation
under U.S. federal, state and Puerto Rico laws
that govern almost all 
aspects of our operations and limit the businesses
in which we may be engaged, including
regulation, supervision and examination 
by federal, state and foreign banking authorities.
These laws and regulations have expanded
significantly over an extended period 
of time and are primarily intended for