Common use of Monitoring and Testing Clause in Contracts

Monitoring and Testing. MLCI and MLCI Parent will conduct periodic reviews and testing of its compliance code, policies, and procedures designed to evaluate and improve their effectiveness in preventing and detecting violations of the Relevant Laws and their code, policies, and procedures in the Commodities Business. ATTACHMENT C REPORTING REQUIREMENTS‌ ▇▇▇▇▇▇▇ ▇▇▇▇▇ Commodities, Inc. (“MLCI”) and MLCI’s ultimate parent (“MLCI Parent”) agree that they will report to the Fraud Section periodically, at no less than twelve-month intervals during a three-year term, regarding remediation and implementation, where necessary and appropriate, of the compliance program and internal controls, policies, and procedures described in Attachment C. During this three-year period, MLCI and MLCI Parent shall: (1) conduct an initial review and submit an initial report, and (2) conduct and prepare at least two (2) follow-up reviews and reports, as described below:

Monitoring and Testing. MLCI and MLCI Parent will conduct periodic reviews and testing of its compliance code, policies, and procedures designed to evaluate and improve their effectiveness in preventing and detecting violations of the Relevant Laws and their code, policies, and procedures in the Commodities Business. ATTACHMENT C REPORTING REQUIREMENTS‌ REQUIREMENTS ▇▇▇▇▇▇▇ ▇▇▇▇▇ Commodities, Inc. (“MLCI”) and MLCI’s ultimate parent (“MLCI Parent”) agree that they will report to the Fraud Section periodically, at no less than twelve-month intervals during a three-year term, regarding remediation and implementation, where necessary and appropriate, of the compliance program and internal controls, policies, and procedures described in Attachment C. During this three-year period, MLCI and MLCI Parent shall: (1) conduct an initial review and submit an initial report, and (2) conduct and prepare at least two (2) follow-up reviews and reports, as described below: