Transparency Provisions Clause Samples
Transparency provisions are contractual clauses that require parties to disclose relevant information, actions, or decisions to each other throughout the course of their agreement. These provisions may mandate regular reporting, sharing of data, or notification of significant developments, ensuring that all parties remain informed about matters affecting the contract. By fostering open communication and reducing information asymmetry, transparency provisions help build trust and prevent misunderstandings or disputes.
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Transparency Provisions. 63.1. The Contractor and its Affiliates declare and guarantee that the directors, officers, advisors, employees and personnel of the Contractor and its Affiliates have not made, offered or authorized, nor shall they make, offer or authorize at any time, any payment, gift, promise or another advantage, either directly or through any other Person or entity, for the use or benefit of any public servant, political party, an official of a political party or candidate for a political office, with the purpose of:
(i) Influencing any decision or omission of a public servant, political party or candidate;
(ii) Obtain or maintain this Contract or any other business;
(iii) Approve any Recoverable Cost; or
(iv) Securing any other illicit benefit or advantage for the Contractor, its Affiliates, shareholders, or any other Person.
63.2. Likewise, the Contractor will ensure that both it and its Affiliates will: (i) adhere to and comply at all times with any anti-corruption laws and regulations that are applicable, and (ii) create and maintain adequate internal controls to comply with Article 64.1.
63.3. The Contractor must notify MEM: (i) immediately as it has knowledge, or that it has sufficient reasons to presume, that any act contrary to the provisions of Article 64.1 has occurred, and (ii) within five (5) Days after it becomes aware of any investigation or proceeding initiated by any authority, domestic or foreign, related to any alleged violation of the provisions of this Article 65. Likewise, the Contractor must keep MEM informed about the progress of the investigation and process until its conclusion.
Transparency Provisions. For the purposes of the transparency provisions set forth in the CICR Resolution of 4 March 2003 and in the “Disposizioni sulla trasparenza delle operazioni e dei servizi bancari e finanziari” issued by the Bank of Italy (as amended from time to time), each of the parties hereby acknowledges and confirms that:
(a) they have appointed and have been assisted by their respective legal counsels in connection with the negotiation, preparation and execution of this Agreement; and
(b) this Agreement, and all of its terms and conditions, including the Recitals and the schedules hereto, have been specifically negotiated in all their aspects (“oggetto di trattativa individuale”) between the parties to this Agreement.
Transparency Provisions. For the purposes of the transparency provisions set forth in the CICR Resolution of 4 March 2003 and in the “Disposizioni sulla trasparenza delle operazioni e dei servizi bancari e finanziari” issued by the Bank of Italy (as amended from time to time), each of the parties hereby acknowledges and confirms that:
Transparency Provisions. 111 11.1...... Appointment.................................................................................................................................................................... 111 11.2...... [Reserved]....................................................................................................................................................................... 112
Transparency Provisions