Compliance Risks Clause Samples
The Compliance Risks clause defines the responsibilities and obligations of parties to identify, assess, and manage risks related to legal and regulatory compliance within the scope of the agreement. Typically, this clause requires each party to adhere to applicable laws and regulations, and may obligate them to implement internal controls or report any compliance breaches. Its core function is to allocate responsibility for compliance, thereby reducing the likelihood of legal violations and protecting both parties from regulatory penalties or reputational harm.
Compliance Risks. Consistent with C.4.12 of its proposal, the Contractor shall establish and implement an effective system for routine monitoring and identification of compliance risks, including internal monitoring and audits. Compliance risks must be reported to the HHS Contracting Officer Technical Representative (“COTR”).
Compliance Risks. As a registered municipal advisor, the Company will be subject to ongoing compliance requirements, such as those relating to recordkeeping, supervision, supervisory procedures and continuing education, among others. The cost of compliance may be significant, in terms of both time and money. In recent years, state and federal regulators have become increasingly active in conducting examinations and significant penalties may result from compliance failures, including a revocation or suspension of necessary licenses, fines and other disciplinary measures. The imposition of such penalties would be detrimental to the business and operations of the Company. There can be no assurance that the Com- pany’s compliance program will be implemented successfully or that regulatory requirements otherwise will be satisfied. Loss of income resulting from regulatory noncompliance could have a material adverse effect on the operating results of the Company.
Compliance Risks. If continuing the Loan to you, in Quantix's sole discretion, may pose a significant compliance or reputational risk to Quantix. Upon termination under this Section 22.2, you shall immediately repay to Quantix the outstanding balance of the Loan, including any accrued interest and fees incurred, without prejudice to any other rights or remedies that Quantix may have under this Agreement or applicable law.
Compliance Risks. Consistent with section C.4.12 of its proposal, the Contractor shall establish and implement an effective system for routine monitoring and identification of compliance risks, including internal monitoring and audits. Compliance risks must be reported to the HHS Contracting Officer Representative (“COR”). B.4.18. Coordination of Benefits: Consistent with section C.4.13 of its proposal, the Contractor shall develop and implement a system for coordinating benefits for health and prescription drug claims with other payers as needed. Claims shall be payable under the high risk pool program on a secondary basis to all other coverage.