TYPE Reports Clause Samples

TYPE Reports. IBM I0S shall, at no cost to Customer, provide to Customer a SAS 70 Type II Report prior to the end of each calendar year regarding the results of tests conducted by an outside independent auditor of IBM IOS’ procedures, systems and operations. The Report shall cover a period of not less than six (6) months of the calendar year. If Customer requires a unique SAS 70 Type II Report to meet the requirements of Rule 38a-i under the 1940 Act, the cost of the unique SAS 70 Type II Report shall be handled as an Additional Services. If any of IBM IOS’ procedures, systems or operations have a material deficiency, do not meet those standards existing in the variable products industry, or are deemed materially inadequate in the report, IBM IOS shall correct all material deficiencies, mistakes, problems, errors, or inadequacies within ninety (90) days, or a timeframe as agreeable by both parties, of the date it receives the report and send notice to Customer that such deficiencies, mistakes, problems, errors, or inadequacies have been corrected. After receiving such notices of the correction (s), Customer shall have the right to re-audit IBM IOS’ procedures, systems, and operations within five (5) days, or timeframe as agreeable by both parties. IBM lOS shall provide access to all of the Books and Records, and all of its systems, operations, procedures and personnel, and manuals that apply to the Contracts so that Customer may perform such audit. The costs of any corrective actions taken as a result of the initial SAS 70 Type II Report for Customer relating to practices and procedures existing at the service center prior to the Services Starting Date or relating to practices and procedures IBM I0S performs at Customer’s direction will be paid by Customer.” As of this Amendment No. 3 Effective Date the existing Exhibits 1.8, 3.2, 3.2.1, and 3.4.2 shall be deleted and replaced with the attached Exhibits dated August 23, 2006. All of the terms of the other terms and conditions of the Agreement which are not affected by this amendment remain unchanged. This Amendment No. 3 may be executed by the parties hereto in counterparts. Amendment No. 3 August 23, 2006 BY: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ BY: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ PRINTED NAME: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ PRINTED NAME: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ TITLE Chief Executive Officer TITLE Vice President & Treasurer DATE: 9/8/2006 DATE: 9/11/06 Amendment ▇▇. ▇ ▇▇▇▇▇▇ ▇▇, ▇▇▇▇ See attached report. Trading Gains/ (Losses) by Product Contract Year September -...