Verification of Accuracy and Correction for Error Sample Clauses

The 'Verification of Accuracy and Correction for Error' clause establishes a process for ensuring that information or data provided under an agreement is correct and allows for the identification and rectification of mistakes. Typically, this clause permits one party to review and verify the accuracy of statements, reports, or deliverables, and obligates the other party to promptly correct any errors discovered, such as miscalculations in invoices or inaccuracies in reported figures. Its core practical function is to maintain the integrity of exchanged information and prevent disputes by providing a clear mechanism for addressing and correcting errors.
Verification of Accuracy and Correction for Error. 1.9.1 Each Party shall test and verify the accuracy of its devices at intervals to be agreed between the Parties. In the case of gauging devices of the LNG Tanker, such tests and verifications shall take place during each scheduled dry-docking, provided that the interval between such dry dockings shall not exceed five (5) years. Indications from any redundant determining devices should be reported to the Parties for verification purposes. Each Party shall have the right to inspect and if a Party reasonably questions the accuracy of any device, to require the testing or verification of the accuracy of such device in accordance with the terms of Exhibit A. 1.9.2 Permissible tolerances of the measurement, gauging and testing devices shall be as described in Exhibit A.
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Verification of Accuracy and Correction for Error. Shipper and Terminal Operator shall test and verify or cause to be tested and verified the accuracy of its respective gauging devices at intervals to be agreed between the Parties. In the case of gauging devices on LNG Ship(s), such tests and verifications shall take place during scheduled dry-docking periods. Each Party shall have the right to inspect at any time the gauging devices installed by the other Party, provided that the other Party shall be notified reasonably in advance. Testing shall be performed using methods recommended by the manufacturer or any other method agreed upon by Shipper and Terminal Operator. Tests shall be witnessed and verified by an independent surveyor agreed upon by Shipper and Terminal Operator. Permissible tolerances shall be as described in section 3.4 of the LNG Access Code. If an inaccuracy of a device exceeding the permissible tolerances is established, recordings and computations made on the basis of those inaccurate readings shall be reviewed, in order to correct all errors with respect to any period that is definitely known or agreed by the Parties, as well as adjustment of the device. In the event that the period of error is neither definitely known nor agreed, corrections shall be made for each delivery and each energy balance made during the last half of the period since the date of the most recent calibration of the inaccurate device.
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Verification of Accuracy and Correction for Error. 14.10.1. All loading operations at the Custody Point set forth in Section 14.2.1(c) will be witnessed and verified by a mutually appointed independent surveyor agreed upon in writing by the Parties following the procedures set forth in Exhibit I (Measurement). 14.10.2. Each Party shall test and verify the accuracy of its devices at intervals to be agreed between the Parties and in accordance with the manufacturers’ recommendations. In the case of gauging devices on the LNG Tankers and Alternate LNG Tankers, such tests and verifications shall take place during scheduled dry dockings, provided that the interval between such dry dockings shall not exceed three (3) years. Each Party shall have the right to inspect any devices, and if a Party reasonably questions the accuracy of any device, to require the testing or verification of the accuracy of such devices in accordance with the terms of Exhibit I (Measurement). 14.10.3. Permissible tolerances of the measurement, gauging and testing devices shall be as described in Exhibit I (Measurement).
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Verification of Accuracy and Correction for Error. Shipper and Terminal Operator shall test and verify or cause to be tested and verified the accuracy of its respective gauging devices at intervals to be agreed between the Parties. In the case of gauging devices on LNG Ship(s), such tests and verifications shall take place during scheduled dry-docking periods. Each Party shall have the right to inspect at any time the gauging devices installed by the other Party, provided that the other Party shall be notified reasonably in advance. Testing shall be performed using methods recommended by the manufacturer or any other method agreed upon by Shipper and Terminal Operator. Tests shall be witnessed and verified by an independent surveyor agreed upon by Shipper and Terminal Operator, provided, however, that the absence of the independent surveyor after notification and reasonable opportunity to attend shall not prevent any test, operation or computation from being performed. Permissible tolerances shall be as described in section 3.4 of the LNG Access Code. If an inaccuracy of a device exceeding the permissible tolerances is established, recordings and computations made on the basis of those inaccurate readings shall be reviewed, in order to correct all errors with respect to any period that is definitely known or agreed by the Parties, as well as adjustment of the device. In the event that the period of error is neither definitely known nor agreed, corrections shall be made for each delivery and each energy balance made during the last half of the period since the date of the most recent calibration of the inaccurate device. All costs and expenses for testing and verifying measurement devices, including the fees of the independent surveyor, shall be borne by the Party whose devices are being tested and verified; provided, however, that representatives of the Parties attending such tests and verifications shall do so at the cost and risk of the Party they represent.
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Verification of Accuracy and Correction for Error 
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Related to Verification of Accuracy and Correction for Error

  • Certification of Accuracy of Disclosure Upon commencement of the offering of the Shares under this Agreement (and upon the recommencement of the offering of the Shares under this Agreement following the termination of a suspension of sales hereunder lasting more than 30 Trading Days), and each time that (i) the Registration Statement or Prospectus shall be amended or supplemented, other than by means of Incorporated Documents, (ii) the Company files its Annual Report on Form 10-K under the Exchange Act, (iii) the Company files its quarterly reports on Form 10-Q under the Exchange Act, (iv) the Company files a Current Report on Form 8-K containing amended financial information (other than information that is furnished and not filed), if the Manager reasonably determines that the information in such Form 8-K is material, or (v) the Shares are delivered to the Manager as principal at the Time of Delivery pursuant to a Terms Agreement (such commencement or recommencement date and each such date referred to in (i), (ii), (iii), (iv) and (v) above, a “Representation Date”), unless waived by the Manager, the Company shall furnish or cause to be furnished to the Manager forthwith a certificate dated and delivered on the Representation Date, in form reasonably satisfactory to the Manager to the effect that the statements contained in the certificate referred to in Section 6 of this Agreement which were last furnished to the Manager are true and correct at the Representation Date, as though made at and as of such date (except that such statements shall be deemed to relate to the Registration Statement and the Prospectus as amended and supplemented to such date) or, in lieu of such certificate, a certificate of the same tenor as the certificate referred to in said Section 6, modified as necessary to relate to the Registration Statement and the Prospectus as amended and supplemented to the date of delivery of such certificate.