EMS procedures Sample Clauses

EMS procedures. Each member of the Company Group shall: (a) permit representatives of the Investor or its designated entities to visit the premises where the business of each Company Group is conducted, and to have access to books of account and records of each member of Company Group, for the purpose of confirming compliance with Applicable Environmental & Social Requirements, provided that such visitation and access is (i) upon reasonable advance notice and during normal business hours, (ii) does not unreasonably interfere with the operations of each member of Company Group, and (iii) does not impose any material expense or burden on each member of Company Group, while the Company shall bear all fees and expenses in connection with such social and environment audit and delivery of the auditing report, provided that the auditing team of no more than three (3) persons; two half-yearly social and environmental audits will be conducted during the first year after the Closing. Social and environmental audits and selected site inspections will be requested annually by the Investor, and the Company shall bear all fees and expenses in connection with such social and environment audit and delivery of the auditing report, provided that the auditing team of no more than three (3) persons; (b) continue (1) to comply with all Applicable Environmental & Social Requirements, and (2) not to engage in any Prohibited Activity; (c) as promptly as possible after becoming aware of any activity by any member of Company Group which does not comply with Applicable Environmental and Social Requirements, or which is classified as a Prohibited Activity, shall use its best efforts to implement a Corrective Action Plan. In the event that any member of the Company Group does not implement and adhere to the Corrective Action Plan in all material respects, the Investor shall have the option upon written notice to such member of Company Group to require that the Investor’s investment in the Company Group be liquidated as soon as possible, but in any event within one hundred and eighty (180) days after such notice, and the proceeds thereof distributed to the Investor less the reasonable cost of such liquidation; and (d) as promptly as possible, but in any event not more than sixty (60) days after the close of each fiscal year, furnish the Investor with an Environmental Performance Report in a form designed by the Investor.