Common use of Management Controls Clause in Contracts

Management Controls. Terasen Inc. (i) has designed disclosure controls and procedures to ensure that material information relating to the Acquired Entities is made known to the management of Terasen Inc. by others within those entities, and (ii) has disclosed, based on its most recent report prior to the date hereof, to Terasen Inc.’s auditors and the audit committee of Terasen Inc. any fraud, whether or not material, that involves management or other employees who have a significant role in Terasen Inc.’s internal controls. Seller has made available to Buyer a summary of any such disclosure made by management to Terasen Inc.’s auditors and audit committee since January 1, 2006 as such disclosure pertains to the Acquired Entities.

Management Controls. Terasen Inc. (i) has designed disclosure controls and procedures to ensure that material information relating to the Acquired Entities Terasen and its subsidiaries is made known to the management of Terasen Inc. by others within those entities, and (ii) has disclosed, based on its most recent report prior to the date hereof, to Terasen Inc.’s Terasen's auditors and the audit committee of Terasen Inc. any fraud, whether or not material, that involves management or other employees who have a significant role in Terasen Inc.’s Terasen's internal controls. Seller Terasen has made available to Buyer Kinder a summary of any such disclosure made by management to Terasen Inc.’s the Company's auditors and audit committee since January 1, 2006 as such disclosure pertains to the Acquired Entities2005.