Audit Purpose Clause Samples

The Audit Purpose clause defines the specific reasons and objectives for which an audit may be conducted under an agreement. It typically outlines the scope of permissible audits, such as verifying compliance with contractual terms, accuracy of financial records, or proper use of licensed materials. By clearly stating the intended purpose, this clause helps prevent misuse of audit rights and ensures that audits are only performed for legitimate, agreed-upon reasons, thereby protecting both parties from unnecessary disruption or overreach.
Audit Purpose. 1.1 The purpose of this document is to provide guidance on how a market data audit will be conducted. Audits are used to verify compliance with contractual obligations and policies. In particular, the audit examines whether the correct remuneration has been paid to the London Stock Exchange Group, aims to identify potential sources of errors and recommend solutions to reduce any future errors occurring. This involves the verification and assessment of the controls surrounding the release of Data at client sites.
View SourceView Similar (21)
Audit Purpose. 1.1 The purpose of this schedule is to provide guidance on how a market data audit will be conducted. Audits are used to verify compliance with contractual obligations and policies. In particular, the audit examines whether the correct remuneration has been paid to the Group, aims to identify potential sources of errors and recommend solutions to reduce any future errors occurring. This involves the verification and assessment of the controls surrounding the release of Data at client sites.
View SourceView Similar (3)
Audit Purpose. At any time during the performance of a specific readiness and response activity under this OA, and up to 12 months from the completion of the specific activity thereafter, any Party may upon written notice to any other Party, at its own cost seek to obtain assurance by requesting that it: (a) Audit or obtain an audit of any aspect of the other Party’s compliance with this OA, or with the clauses of any funding agreement for this OA and/or any elements of the other Party’s financial administration of such funding agreement. (b) Evaluate any agreed elements of the process steps and activities which contribute to the delivery of the agreed outputs for the specific activities for an OA (those activities directed and agreed under relevant schedules including
View Source
Audit Purpose. The purpose of this document is to provide guidance on how a market data audit will be conducted. Audits are used to verify compliance with contractual obligations and policies. In particular, the audit examines whether the correct remuneration has been paid. Borsa Italiana aims to identify potential sources of errors and recommend solutions to reduce any future errors occurring. This involves the verification and assessment of the controls surrounding the release of Data at client sites. The BIT Verifier may examine all means of communication, systems, Devices and applications that use and/or redistribute Data, in addition to the procedures, processes and systems, such as entitlement systems, that control the release of and/or provision of access to the Data solely for the purpose of verifying compliance with this Agreement.
View Source
Audit Purpose. At any time during the performance of this OA, and for up to seven years thereafter, the Party(s) may upon written notice to the other Party(s), at their own cost seek to obtain assurance by: (a) Auditing any aspect of either Party’s compliance with the clauses of any funding agreement for this OA and/or any elements of either Party’s financial administration of such funding agreement. (b) Evaluating any agreed elements of the process steps and activities which contribute to the delivery of the agreed outputs for the specific activities for an operational agreement (those activities directed and agreed under relevant schedules including Schedule I: Readiness work and work plans; Schedule J: Training and education; Schedule L: Market access recovery); Schedule M: Response strategy and related plans.
View Source

Related to Audit Purpose

  • Trust Purpose The purpose of the Trust is to conduct, operate and carry on the business of an open-end management investment company registered under the 1940 Act. In furtherance of the foregoing, it shall be the purpose of the Trust to do everything necessary, suitable, convenient or proper for the conduct, promotion and attainment of any businesses and purposes which at any time may be incidental or may appear conducive or expedient for the accomplishment of the business of an open end management investment company registered under the 1940 Act and which may be engaged in or carried on by a trust organized under the Act, and in connection therewith the Trust shall have the power and authority to engage in the foregoing, both within and without the State of Delaware, and may exercise all of the powers conferred by the laws of the State of Delaware upon a Delaware statutory trust.

  • Investment Purpose As of the date hereof, the Buyer is purchasing the Note and the shares of Common Stock issuable upon conversion of or otherwise pursuant to the Note (including, without limitation, such additional shares of Common Stock, if any, as are issuable (i) on account of interest on the Note, (ii) as a result of the events described in Sections 1.3 and 1.4(g) of the Note or (iii) in payment of the Standard Liquidated Damages Amount (as defined in Section 2(f) below) pursuant to this Agreement, such shares of Common Stock being collectively referred to herein as the “Conversion Shares” and, collectively with the Note, the “Securities”) for its own account and not with a present view towards the public sale or distribution thereof, except pursuant to sales registered or exempted from registration under the 1933 Act; provided, however, that by making the representations herein, the Buyer does not agree to hold any of the Securities for any minimum or other specific term and reserves the right to dispose of the Securities at any time in accordance with or pursuant to a registration statement or an exemption under the 1933 Act.

  • Loan Purpose The loan borrowed hereunder shall be used for turnover of working capital. Without the written consent of the Lender, the Borrower may neither change the loan purpose nor use the loan for any other purposes. The Lender shall have the right to supervise the Borrower’s use of the loan.

  • Program Purpose The purpose of this Program is to provide preventive and primary health care (PHC) for individuals who reside in the state of Texas with a gross family income at or below 200 percent of the federal poverty level (FPL). Grantee shall provide services regardless of race, color, national origin, sex, age, religion, disability, political beliefs, sexual orientation, and family income.

  • Investment Purposes The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s own account and not for the account or benefit of any other person, and not with a view towards the distribution or dissemination thereof. The Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502 under the Securities Act.