IAC Sample Clauses
The IAC (Independent Audit Clause) establishes the right for one party to have an independent third party review and verify certain records or activities of the other party. Typically, this clause applies to financial records, compliance with contractual obligations, or performance metrics, and may specify the frequency, scope, and procedures for such audits. Its core practical function is to provide transparency and accountability, ensuring that both parties adhere to the terms of the agreement and enabling the detection and resolution of discrepancies or non-compliance.
IAC. IAC has been formed solely for the purpose of engaging in the transactions contemplated hereby and prior to the Effective Time will have engaged in no other business activities and will have incurred no liabilities or obligations other than as contemplated herein.
IAC. In the event that the IAC ceases to exist during the Term and there is no successor group or body, then all references within this agreement to IAC approval or decisions shall be read as requiring the approval of the parties previously represented on IAC (which in the case of suppliers, will be met by a Supplier Approval).
IAC. The “Instituto de Astrofisica de Canarias” (IAC) was at the time working on the implementation of the existing GEP (2016/2018) and planning the design of the next one. The focus of the GEP lies on the whole organization. The most important support factors so far have been the availability of sex-disaggregated data and qualitative interviews that helped in identifying the “concrete obstacles affecting women's careers”. Furthermore, a big success was the adoption of the GENERA proposal on Gender Equality Fields of Action by the Board. In this context it was also agreed that a protocol would be applied in scientific conferences and events organized by the IAC. The added value of GENERA is also that the organization can be part of an international trend in implementing gender equality measures across European research centres. The biggest challenges in the implementation process up to January 2018 were: