Material Fraud definition

Material Fraud means:
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Material Fraud is defined as an aggravated form of Fraud of which the Intent is significant enough to, on the balance of probability, have an impact on the continuity of any of the Service Parties, such as, but not limited to the Intent to structurally exploit a bug, error, vulnerability, or weakness, technical, legal, financial or otherwise as meant in section 9.2.
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Material Fraud under R.C. 1305.08(B) means fraud that has so vitiated the entire transaction that the legitimate purposes of the independence of the issuer’s obligation can no longer be served.
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Examples of Material Fraud in a sentence

  • The express terms of the agreement permit the Company to terminate the agreement only upon Material Breach, Material Fraud or Material Willful Misconduct by Monsanto, as such terms are defined in the agreement, or upon the sale of the Roundup(R) business by Monsanto.

  • More favorable exchange rate shocks are associated with increases in hours worked in self em- ployment: the coefficients in these regressions are positive and statistically significantly different from zero.

  • The express terms of the agreement permit the Company to terminate the agreement only upon Material Breach, Material Fraud or Material Willful Misconduct by Monsanto, as such terms are defined in the agreement, or upon the sale of the Roundup business by Monsanto.

  • Material Fraud (Traditional):Types, nature, and forms of fraud vary as per the provided service.

  • Figure 3: Responsibility of the Auditor to detect Material Fraud.

  • In the event that the Company determines that an Executive Officer has committed an act of Material Fraud or Misconduct, the Company may, in the sole discretion of the Committee, recover Erroneously Awarded Compensation – Misconduct Received by any Executive Officer during the applicable Clawback Period, in amounts determined by the Committee pursuant to this Policy.

  • During the course of our examination of the Books and Records of the Company carried out in accordance with the Generally Accepted Accounting Practices in India and according to the information and explanations given to us, we have neither come across any instance of Material Fraud by the Company or on the Company by its Officers or Employers obtain or Employees, noticed or reported during the year nor we have been informed of any such case by the Management.

  • The main advantages of this technology are low investments and production costs, improved operational reliability, and great flexibility in the choice of the plant size [14].• Distillation.

  • Fraud: (§5-109) (Material Fraud) The high standard for fraud makes it quite difficult for the issuer to avoid payment even if the beneficiary has no right to the money.

  • Audit procedure and plan amended Not clearly separated in the audit plan Action Audit plan updated to include these as separate itemsRM013a- Direct Sourcing Raw Material Fraud Mitigation Procedure TP12a - Internal Audit Plan 2019-03-22 CL TP12 - Internal Audit Procedure 9 3.5.2 The internal auditor was not always independent from the areas they were auditing.

Related to Material Fraud

  • Material Damage and "Materially Damaged" means damage which, in Seller's reasonable estimation, exceeds $200,000.00 to repair or which, in Seller's reasonable estimation, will take longer than ninety (90) days to repair.

  • Misrepresentation means an untrue statement of a material fact or an omission to state a material fact required or necessary to make the statements contained therein not misleading in light of the circumstances in which they are made.

  • Material means material in relation to the business, operations, affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a whole.

  • Fraud means any offence under laws creating offences in respect of fraudulent acts or at common law in respect of fraudulent acts in relation to the Contract or defrauding or attempting to defraud or conspiring to defraud the Crown.

  • Misstatement means an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement or Prospectus, or necessary to make the statements in a Registration Statement or Prospectus (in the light of the circumstances under which they were made) not misleading.

  • Material Related Party Transaction means a transaction with a related party if the transaction / transactions to be entered into individually or taken together with previous transactions during a financial year, exceeds ten percent of the annual consolidated turnover of the company as per the last audited financial statements of the company.

  • Knowledge of Seller means the actual knowledge of Jxxx Xxxxxx, Pxxxxxx Xxxxxx and Mxxxxxx XxXxxxxx, without inquiry.

  • Material Litigation is defined in Section 6.7.

  • Company’s Knowledge means the actual knowledge of the executive officers (as defined in Rule 405 under the 0000 Xxx) of the Company, after due inquiry.

  • Material Action means to consolidate or merge the Company with or into any Person, or sell all or substantially all of the assets of the Company, or to institute proceedings to have the Company be adjudicated bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency proceedings against the Company or file a petition seeking, or consent to, reorganization or relief with respect to the Company under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company or a substantial part of its property, or make any assignment for the benefit of creditors of the Company, or admit in writing the Company's inability to pay its debts generally as they become due, or take action in furtherance of any such action, or, to the fullest extent permitted by law, dissolve or liquidate the Company.