Audits Required Clause Samples

The "Audits Required" clause mandates that certain financial or operational records must be examined by an independent party, typically on a regular basis. In practice, this clause may require a company to submit to annual audits of its financial statements or to allow an external auditor access to specific documents to verify compliance with contractual obligations. Its core function is to ensure transparency and accountability, helping to detect errors, fraud, or non-compliance and thereby protecting the interests of stakeholders.
Audits Required. It must obtain the following audits: (i) Annual “Single Audit.” A financial and compliance audit consistent with the requirements of the Single Audit Act Amendments of 1996, 31 U.S.C. § 7501, et seq., and applicable U.S. DOT “Single Audit” requirements of 2 CFR Part 1201, which incorporate by reference 2 CFR Part 200, for each Award, the accompanying Underlying Agreement, and any Amendments to any Underlying Agreement; and
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Audits Required. It will obtain the following audits: (a) Annual “Single Audit.” A financial and compliance audit that: (b) Other Audits. Other audits the Federal Government may require,
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Audits Required. If requested, Grantee shall submit to County a year-end financial statement covering all fiscal years during which Grantee expends funds provided pursuant to this Agreement. Grantee shall maintain client records, books, documents, and other evidence, accounting procedures and practices sufficient to reflect properly all direct and indirect costs of whatever nature claimed to have been incurred in the performance of this Agreement, including any matching costs and expenses, all of which will be deemed to constitute records for purposes of this section. Such records shall clearly reflect the cost and scope of the services provided. Grantee's facility or office or such part thereof as may be engaged in the performance of this Agreement and its records shall be subject at all reasonable times to inspection, audit, and reproduction by County, the State, or any of their duly authorized representatives.
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Audits Required. A [insert number of installment] of US$insert amount in figures (United States Dollars insert amount in words), equivalent to [10% of the total maximum amount set out in this Article, shall be made available upon satisfactory provision of the required outputs (outputs indicated in the Payment Schedule have been provided), [Insert acronym of partner], financial statements of the Project audited by an independent audit firm showing the use of funds so far provided to [Insert acronym of partner], and a payment request. [Note: The first audit is required once 80% of the total maximum amount set out in this Article has been provided and utilized. Installments totaling of 20% (at a minimum) should be conditional upon submission of the audited financial statements] A final installment of US$ insert amount in figures (United States Dollars insert amount in words), not less than 10% of the total maximum amount set out in this Article, shall be made available upon satisfactory provision of the final outputs (outputs indicated in Annex C of the Payment Schedule have been provided), financial statements of the Project audited by an independent audit firm showing the use of funds so far provided [Insert acronym of partner], and a payment request). [Note: The second audit required once 80% of the total maximum amount set out in this Article has been provided and utilized. The final installment of 10% is conditional upon submission of the audited financial statements] UN-Habitat shall make the above payments within [insert number in words] [insert number in figures] days following the receipt of the appropriate payment request. The statements referred to above shall be itemized as per the budget in Annex C. Supporting documents shall be available to UN-Habitat upon request, together with payment request. The Parties acknowledge that the disbursement of funds from UN-Habitat to [Insert acronym of partner] under this Agreement are subject, in all respect, to the receipt of funds from Donor under the respective terms and conditions between UN-Habitat and the Donor. [Insert acronym of partner] cannot derive any rights from the terms and conditions between UN-Habitat and the donor or have any claim to the funds provided by the Donor to UN-Habitat. Payments shall be made by UN-Habitat in United States Dollars (USD) to the following bank account which shall be used exclusively for this project:
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Audits Required. It will obtain the following audits: (a) Annual “Single Audit.” A financial and compliance audit that:
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Related to Audits Required

  • Consents Required A complete list of all agreements wherein consent to the transaction herein contemplated is required to avoid a default thereunder; or where notice of such transaction is required at or subsequent to closing, or where consent to an acquisition, consolidation, or sale of all or substantially all of the assets is required to avoid a default thereunder. (Schedule F.)

  • All Consents Required All approvals, authorizations, consents, orders or other actions of any Person or Governmental Authority applicable to the Collateral Custodian, required in connection with the execution and delivery of this Agreement, the performance by the Collateral Custodian of the transactions contemplated hereby and the fulfillment by the Collateral Custodian of the terms hereof have been obtained.

  • SERVICES REQUIRED In accordance with the terms and conditions of the Contract, including all Contract Documents incorporated by reference, Vendor shall deliver throughout the term of the Contract including renewal or extension periods (if any), orphan well plugging and related services (“Services”), including all labor, qualified personnel, management, coordination, equipment, materials, insurance, bonding, and incidentals to fulfill all requirements and deliver all goods and/or services required under the Contract in accordance with applicable method protocols, industry/trade best practices, and all rules, regulations, and laws related thereto. “Contract Documents” include: a. This Contract No. 455-24-1003T, and any amendments hereto; b. Exhibit A, RFQ No. ▇▇▇-▇▇-▇▇▇▇, including all associated attachments, appendices, exhibits, and addenda; and c. Exhibit B, Vendor’s Response, dated October 23, 2023 (“Vendor’s Response”) including Vendor’s Best and Final Offer (BAFO) dated January 18, 2024.

  • No Consents Required No consent, approval, authorization, order, registration or qualification of or with any court or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Company of this Agreement, the issuance and sale by the Company of the Placement Shares, except for such consents, approvals, authorizations, orders and registrations or qualifications as may be required under applicable state securities laws or by the by-laws and rules of the Financial Industry Regulatory Authority (“FINRA”) or the Exchange in connection with the sale of the Placement Shares by the Agent.

  • APPROVALS REQUIRED Neither the execution and delivery of this Agreement and the other Loan Papers to which it is a party by the Company, nor the consummation by the Company of any of the transactions contemplated hereby or thereby requires the consent or approval of, the giving of notice to, or the registration, recording, or filing of any document with, or the taking of any other action in respect of any Tribunal except for the routine filing of copies of this Agreement and certain other Loan Papers with the Securities and Exchange Commission, except for any of the foregoing required of any Bank or Agent.