Common use of Internal Control Systems Clause in Contracts

Internal Control Systems. Manager shall install systems for monitoring of all funds (the “Internal Control Systems”), which systems shall comply with all Legal Requirements, and shall be submitted to the Tribal Gaming Agency for approval in advance of implementation. The Tribe shall retain the right to review all Internal Control Systems and any changes instituted to the Internal Control Systems of the Enterprise; provided, however that the Internal Control Systems shall at a minimum and at all times comply with the Legal Requirements. The Tribe shall have the exclusive right to select and retain an auditor to review the adequacy of the Internal Control Systems prior to the Commencement Date, and to review the books of account of the Enterprise from time to time. The cost of such review prior to the Commencement Date shall be a Pre-Opening Expense, and after the Commencement Date the costs for the auditor shall be an Operating Expense. Any material changes in such systems after the Commencement Date also shall be subject to review in accordance with the Legal Requirements. Manager shall have the right and duty to maintain and police the Internal Control Systems in order to prevent any loss of proceeds from the Enterprise. The Tribal Gaming Agency shall have the right to inspect and oversee the Internal Control System at all times. Manager shall install a closed circuit television system to be used for monitoring the cash handling activities of the Enterprise sufficient to meet all Legal Requirements.

Internal Control Systems. Manager shall install systems for monitoring of all funds (the “Internal Control Systems”), which systems shall comply with all Legal Requirements, and shall be submitted to the Tribal Gaming Agency for approval in advance of implementation. The Tribe Authority shall retain the right to review all Internal Control Systems and any changes instituted to the Internal Control Systems of the Enterprise; provided, however that the Internal Control Systems shall at a minimum and at all times comply with the Legal Requirements. The Tribe Authority shall have the exclusive right to select and retain an auditor to review the adequacy of the Internal Control Systems prior to the Commencement Date, and to review the books of account of the Enterprise from time to time. The cost of such review prior to the Commencement Date shall be a Pre-Opening Expense, and after the Commencement Date the costs for the auditor shall be an Operating Expense. Any material changes in such systems after the Commencement Date also shall be subject to review in accordance with the Legal Requirements. Manager shall have the right and duty to maintain and police the Internal Control Systems in order to prevent any loss of proceeds from the Enterprise. The Tribal Gaming Agency shall have the right to inspect and oversee the Internal Control System at all times. Manager shall install a closed circuit television system to be used for monitoring the cash handling activities of the Enterprise sufficient to meet all Legal Requirements.