Evidence of a material violation definition

Evidence of a material violation means credible evidence, based upon which it would be unreasonable, under the circumstances, for a prudent and competent attorney not to conclude that it is reasonably likely that a ma- terial violation has occurred, is ongo- ing, or is about to occur.
Sample 1Sample 2Sample 3
Evidence of a material violation means “credible evidence, based upon which it would be unreasonable, under the circumstances, for a prudent and competent attorney not to conclude that it is reasonably likely that a material violation has occurred, is ongoing or about to occur.” The term “material violation” refers to a material violation of an applicable U.S. federal or state securities law, a material breach of fiduciary duties arising under U.S. federal or state securities law, a similar material violation of any U.S. federal or state law. Moreover, the SEC states in the Adopting Release that the concept of materiality generally applied under the U.S. federal securities laws will also be applied under Part 205 and cites to the standard established by the U.S. Supreme Court in the seminal cases of Basic, Inc. v. Levinson, 485 U.S. 224 (1988) and TSC Indus. v.
Sample 1
Evidence of a material violation means information that would lead an attorney reasonably to believe that a material violation has occurred, is occurring, or is about to occur.This objective standard is intended to preclude reports based on mere suspicion of a material violation while providing reasonable flexibility to attorneys when evaluating their reporting obligations under the proposed rule. An individual attorney ishe or she does not personally believe that a material violation has occurred, is occurring, or is about to occur. Under the definition of ‘‘reasonably believes’’ in paragraph (l) of Section 205.2, any information that would lead an attorney, acting reasonably, to believe that a material violation has occurred, is occurring, or is about to occur must be reported—whether or not the reporting attorney subjectively believes it. An individual attorney is not, however, required to report within the issuer evidence of a material violation that the attorney thinks is insufficient to lead an attorney, acting reasonably, to believe that a material violation has occurred, is occurring, or is about to occur. The definition does not prescribe a process by which an attorney must evaluate evidence he or she learns about.Interested persons are invited tocomment on any aspect of the definition of ‘‘evidence of a material violation.’’ Should a different standard be adopted than that proposed by the Commission and, if so, what should that different standard be? Should the test be subjective rather than objective? Where along the spectrum from actual knowledge to mere suspicion should the line be drawn? Is the correct measure ‘‘beyond a reasonable doubt,’’ ‘‘knows or should know,’’ ‘‘substantial credible information,’’ a ‘‘prima facie case,’’ ‘‘more likely than not,’’ ‘‘at least as likely as not,’’ ‘‘reason to believe,’’ ‘‘some credible information,’’ ‘‘a mere scintilla of information sufficient to raise suspicion,’’ or another test and, if so, what? If reasonable belief is the appropriate standard, what should be reasonably believed: that a material violation has occurred, is occurring, or is about to occur or that a material violation may have occurred, may be occurring, or may be about to occur, or something else? Should the definition be revised to make clearer that the standard is objective rather than subjective and, if so, how?
Sample 1

Examples of Evidence of a material violation in a sentence

  • Based on estimates from ISS activity, over 350kg of water is needed for a crew member per month when including drinking, hygiene, and respiration.

  • Evidence of a material violation by the company or its employees or agents of applicable laws, rules or regulations.

  • CODE OF ETHICS FOR SENIOR FINANCIAL OFFICERS Page 3 • Evidence of a material violation by the Company or its employees or agents of applicable governmental laws, rules or regulations.

  • At the Combined General Meeting of 29 March 2012, share- holders approved an amendment to Article 18 of the Articles of Association to stagger the terms of the members of the Supervisory Board.The new text allows, by way of exception, for a term of office of two years and, to enable this staggering of terms, the appoint- ment of one or more members for a period of one year.

  • Evidence of a material violation is “credible evidence from which it would be unreasonable, under the circumstances75 for a prudent and competent attorney not to conclude that it is reasonably likely76 that a material violation77 has occurred, is occurring, or is ongoing or about to occur.”78 Like the Proposed Rules, the Final Rules do not require that the attorney be certain that a violation has occurred, is occurring, or is about to occur.

  • Treasury Management - Interest on Borrowing922.00.0922.0321.1-600.9The interest payable forecast is based on the expected borrowing required to implement the Capital Program.

  • Evidence of a material violation of securities or other laws, rules or regulations applicable to Onto Innovation and the operation of its business, by Onto Innovation or any agent thereof.

  • Evidence of a material violation of the securities or other laws, rules or regulations applicable to the Company and the operation of the Company’s business by employees or agents.

  • Consumers will not buy second-best products that are based only on publicly available information.”).


More Definitions of Evidence of a material violation

Evidence of a material violation means information that would lead an attorney reasonably to believe that a material violation has occurred, is occurring, or is about to occur.
Sample 1

Related to Evidence of a material violation

  • Environmental Violation means any activity, occurrence or condition that violates or results in non-compliance with any Environmental Law in any Material respect.

  • Serious violation means OCC has made a valid finding when assessing a serious complaint that alleges:

  • Repeat violation means a violation of the same regulation in any location by the same person for which voluntary compliance previously has been sought within two years or a notice of civil violation has been issued

  • Minor violation means a violation that is not the result of the purposeful, reckless or criminally negligent conduct of the alleged violator; and/or the activity or condition constituting the violation has not been the subject of an enforcement action by any authorized local, county or state enforcement agency against the violator within the immediately preceding 12 months for the same or substantially similar violation.

  • Remedy a Violation means to bring the structure or other development into compliance with state and community floodplain management regulations, or, if this is not possible, to reduce the impacts of its noncompliance. Ways that impacts may be reduced include protecting the structure or other affected development from flood damages, implementing the enforcement provisions of the ordinance or otherwise deterring future similar violations, or reducing federal financial exposure with regard to the structure or other development.

  • Technical violation means a noncriminal violation of the conditions of parole. This rule is intended to implement Iowa Code section 905.7.

  • Notice of Violation means a written notice prepared by an enforcement official that informs a responsible person of code violations and orders them to take certain steps to correct the violations.

  • OVI or OVUAC violation means a violation of section 4511.19 of the Revised Code or a violation of an existing or former law of this state, any other state, or the United States that is substantially equivalent to section 4511.19 of the Revised Code.

  • Market Violation means a tariff violation, violation of a Commission-approved order, rule or regulation, market manipulation, or inappropriate dispatch that creates substantial concerns regarding unnecessary market inefficiencies, as defined in 18 C.F.R. § 35.28(b)(8).

  • Material Compliance Matter has the same meaning as the term defined in Rule 38a-1, and includes any compliance matter that involves: (1) a violation of the federal securities laws by Distributor (or its officers, directors, employees, or agents); (2) a violation of Distributor's Rule 38a-1 policies and procedures; or (3) a weakness in the design or implementation of Distributor's Rule 38a-1 policies and procedures.

  • Serious traffic violation means a conviction when operating a commercial motor vehicle of:

  • Event of Noncompliance shall have the meaning set forth in the Certificate of Designations.

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

  • Material Agreement means any material contract, commitment, agreement (written or oral), instrument, lease or other document, license agreement and agreements relating to intellectual property, to which the Corporation or any Subsidiary are a party or to which any of their property or assets are otherwise bound;

  • Substantial compliance means a level of compliance with these rules where any deficiencies pose no greater risk to resident health or safety than the potential for causing minor harm.

  • Behavioral violation means a student’s behavior that violates the district’s discipline policies.

  • Material Consents as defined in Section 7.3.

  • Material of Environmental Concern means and includes pollutants, contaminants, hazardous wastes, and toxic, radioactive, caustic or otherwise hazardous substances, including petroleum, its derivatives, by-products and other hydrocarbons, or any substance having any constituent elements displaying any of the foregoing characteristics.

  • Restrictive Covenant Violation means the Participant’s breach of the Restrictive Covenants listed on Appendix A or any covenant regarding confidentiality, competitive activity, solicitation of the Company’s vendors, suppliers, customers, or employees, or any similar provision applicable to or agreed to by the Participant.

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • Material Condemnation has the meaning set forth in Section 14.2.1.

  • Substantial governmental relationship means the extent of a governmental relationship necessary under Ohio law to make an added guarantee contract issued incident to that relationship valid and enforceable. A guarantee contract is issued "incident to that relationship" if it arises from a clear commonality of interest in the event of an UST release such as conterminous boundaries, overlapping constituencies, common groundwater aquifer, or other relationship other than monetary compensation that provides a motivation for the guarantor to provide a guarantee.

  • Environmental Event shall have the meaning set forth in Section 12.2.1.

  • Material Environmental Amount an amount payable by the Borrower and/or its Subsidiaries in excess of $5,000,000 for remedial costs, compliance costs, compensatory damages, punitive damages, fines, penalties or any combination thereof.

  • Company Material Contract has the meaning set forth in Section 3.15(a).

  • Wildlife violation means any cited violation of a statute, law, regulation, ordinance, or administrative rule developed and enacted for the management of wildlife resources and the uses thereof.