Scheduled Audits Sample Clauses

Scheduled Audits. Company and its designated representatives shall be afforded full and complete access to General Agent’s records for the purpose of auditing General Agent with respect to all transactions arising out of or in connection with any business written by General Agent or any Agent or Broker pursuant to this Agreement, including any underwriting, claims, financial or accounting files of General Agent, upon 24 hours notice and during the regular business hours of General Agent. Company shall conduct such audits at least semiannually, and otherwise within 90 days of the close of any 30 day period following the first anniversary of the Effective Date of this Agreement in which Company’s aggregate premium volume increases by 30% or more if General Agent writes more than 20% of Company’s aggregate premium volume and General Agent has itself experienced an increase of 20% or more in its own premium volume produced within the same 30 day period. Copies of such audits shall remain on file with Company for at least the minimum period of time required by Regulations and be available to regulators for review. Company may conduct examinations more extensively or frequently if issues and matters, in the sole discretion of Company, necessitate such examinations.
Sample 1
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Scheduled Audits. Company and its designated representatives shall be afforded full and complete access to General Agent’s records for the purpose of auditing General Agent with respect to all transactions arising out of or in connection with any business written by General Agent or any Agent or Broker pursuant to this Agreement, including any underwriting, claims, financial or accounting files of General Agent, upon 24 hours notice and during the regular business hours of General Agent. Company shall conduct such audits at least semiannually, and otherwise within 90 days of the close of any 30 day period following the first anniversary of the Effective Date of this Agreement in which Company’s aggregate premium volume increases by 30% or more if General Agent writes more than 20% of Company’s aggregate premium volume and General Agent has itself experienced an increase of 20% or more in its own premium volume produced within the same 30 day period. Copies of such audits shall remain on file with Company for at least the minimum period of time required by Regulations and be available to regulators for review. Company may conduct examinations more extensively or frequently if issues and matters, in the sole discretion of Company, necessitate such examinations. 9.3 Minimum Scope of Audits. Any audit conducted by Company shall include issues and matters required by Company or Regulations, and at a minimum, shall include a review of the following information or elements: (a) General Agent’s claims procedures and claims handling practices; (b) timeliness of claim payments, i.e., lag-time between the date a claim is reported and the date it is paid; 11 Managing General Agency Agreement Effective July 1, 2006 (c) timeliness of General Agent’s reporting of new business to Company; (d) timeliness of General Agent’s remittance of monies due Company; (e) timeliness of premium and collection for business written for or on behalf of Company; (f) reconciliation of General Agent’s policy forms and check and draft inventory; and (g) compliance with underwriting guidelines set forth in this Agreement. 9.4
Sample 1

Related to Scheduled Audits

  • Field Audits The Borrower shall permit the Bank to inspect the Inventory, other Tangible Assets and/or other business operations of the Borrower and each Subsidiary, to perform appraisals of the Equipment of the Borrower and each Subsidiary, and to inspect, audit, check and make copies of, and extracts from, the books, records, computer data, computer programs, journals, orders, receipts, correspondence and other data relating to Inventory, Accounts and any other Collateral, the results of which must be satisfactory to the Bank in the Bank’s sole and absolute discretion. All such inspections or audits by the Bank shall be at the Borrower’s sole expense, provided, however, that so long as no Event of Default or Unmatured Event of Default exists, the Borrower shall not be required to reimburse the Bank for inspections or audits more frequently than once each fiscal year.

  • Cost of Audits Customer shall bear the costs of any audit unless such audit reveals a material breach by SAP of this DPA, then SAP shall bear its own expenses of an audit. If an audit determines that SAP has breached its obligations under the DPA, SAP will promptly remedy the breach at its own cost.

  • Meal Periods (a) Meal periods shall be scheduled as closely as possible to the middle of the workday. The length of the meal period shall be not less than thirty (30) minutes and not more than sixty (60) minutes.

  • Annual Audits Each fiscal year, the School shall provide for an independent annual financial audit conducted in accordance with Generally Accepted Auditing Standards and Governmental Auditing Standards and performed by a certified public accountant (CPA); provided the Commission may establish an alternative reporting requirement in accordance with State law. The Commission shall provide the guidelines and/or scope of the audit or alternative report and may require minimum CPA qualifications or that the School select from a list of qualified CPAs as provided by the Commission. The School shall provide the completed audit or alternative report to the Commission by November 15 after the conclusion of the fiscal year; provided that the Commission, with reasonable notice to the School, may change the deadline depending on circumstances. The School shall pay for the audit or alternative report if an appropriation is not made by the Legislature for such purpose.

  • Modifications and Updates to the Wire Center List and Subsequent Transition Periods 2.1.4.12.1 In the event BellSouth identifies additional wire centers that meet the criteria set forth in Section 2.1.4.5, but that were not included in the Initial Wire Center List, BellSouth shall include such additional wire centers in a carrier notification letter (CNL). Each such list of additional wire centers shall be considered a “Subsequent Wire Center List”.

  • Contract Audits Eligible Purchaser represents and warrants that it shall cooperate with Enterprise Services, the Office of the State Auditor, federal officials, and/or any third party authorized by law or contract, in any audit conducted by such party pertaining to any Contracts that Eligible Purchaser has made purchases from pursuant to this Agreement, including providing records related to any purchases from such Contracts.

  • Audits No more than once a year, or following unauthorized access, upon receipt of a written request from the LEA with at least ten (10) business days’ notice and upon the execution of an appropriate confidentiality agreement, the Provider will allow the LEA to audit the security and privacy measures that are in place to ensure protection of Student Data or any portion thereof as it pertains to the delivery of services to the LEA . The Provider will cooperate reasonably with the LEA and any local, state, or federal agency with oversight authority or jurisdiction in connection with any audit or investigation of the Provider and/or delivery of Services to students and/or LEA, and shall provide reasonable access to the Provider’s facilities, staff, agents and XXX’s Student Data and all records pertaining to the Provider, LEA and delivery of Services to the LEA. Failure to reasonably cooperate shall be deemed a material breach of the DPA.

  • Trial Periods 1. A secondment agreement may only include a trial period clause if and insofar as the contract is concluded for a period of more than six months. In that case, the maximum trial period laid down by law shall apply.

  • PRICING/AUDIT The Contractor shall establish and maintain a reasonable accounting system, which enables ready identification of Contractor’s cost of goods and use of funds. Such accounting system shall also include adequate records and documents to justify all prices for all items invoiced as well as all charges, expenses and costs incurred in providing the goods for at least five (5) years after completion of this contract. The County or its designee shall have access to such books, records, subcontract(s), financial operations, and documents of the Contractor or its subcontractors, as required to comply with this section for the purpose of inspection or audit anytime during normal business hours at the Contractor's place of business. This right to audit shall include the Contractor’s subcontractors used to procure goods under the contract with the County. Contractor shall ensure the County has these same rights with subcontractors and suppliers.

  • Reviews (a) During the term of this Agreement and for 7 years after the term of this Agreement, the HSP agrees that the LHIN or its authorized representatives may conduct a Review of the HSP to confirm the HSP’s fulfillment of its obligations under this Agreement. For these purposes the LHIN or its authorized representatives may, upon 24 hours’ Notice to the HSP and during normal business hours enter the HSP’s premises to:

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