Field Audit definition

Field Audit means a formal official verification and methodical examination and review, including the final written report of the examination of original books of accounts and resident assessment data and its supporting documentation by auditors.

Field Audit means a field examination conducted by a Field Auditor of the Borrower’s and the Guarantors’ accounts receivable and books and records related thereto, and the results of such field examination shall be reasonably satisfactory to the Administrative Agent in all respects.

Field Audit means a formal official verification and methodical examination and review, including the final written report of the examination of original books of accounts by auditors.

Examples of Field Audit in a sentence

• On August 21, 2000, we received a notice of Field Audit Action (the “First Notice”) from the State of Wisconsin Department of Revenue (the “DOR”) alleging that two corporations purchased by us had failed to collect and remit sales and use taxes totaling $1.9 million to the State of Wisconsin prior to the purchase during the period from January 1, 1994 through September 30, 1997.

• On May 24, 2003, we received a second Notice of Field Audit Action (the “Second Notice”) from DOR alleging that the two subsidiaries failed to collect and remit sales and use taxes to the State of Wisconsin during the period from April 1, 1998 through March 31, 2002 totaling $1.4 million.

• The Administrative Agent shall have received, in form and substance reasonably satisfactory to it, (i) appraisals from (1) the Appraisers in respect of the Appraised Collateral (other than the Real Property Assets) and (2) the Real Estate Appraiser in respect of the Real Property Assets and (ii) a Field Audit in respect of the Eligible Accounts Receivable.

• Within 120 days following the Closing Date, the Administrative Agent shall have received satisfactory results of a Field Audit and Field Exam.

• Such right of inspection shall encompass the conduct of a Field Audit by the Administrative Agent or its duly authorized representatives.

More Definitions of Field Audit

Field Audit means an on-site analysis of cost report data submitted by a provider. This constitutes an in-depth review of the providers’ financial and statistical records to verify data submitted on the cost report is accurate, complete, allowable and reasonable.

Field Audit means an audit, verification and inspection of the books and records, accounts receivable and inventory of the Borrower and its Subsidiaries, conducted by the Administrative Agent or any other Person selected by the Administrative Agent.

Field Audit means a limited scope field audit of the accounting records of the Borrowers to be performed by the Collateral Agent in accordance with the parameters outlined in Exhibit C and Section 8.01(b)(4) of this Agreement.

Field Audit. A comprehensive in-person assessment of health and safety documentation, behaviors, and practices at a defined location to evaluate Supplier conformance with relevant regulatory or industry best practices

Field Audit shall have the meaning assigned thereto in Section 5.1 (11) hereof.

Field Audit means audits, verifications and inspections of (a) the Collateral, (b) the accounting and financial processes and procedures of the Loan Parties or pertaining to the Collateral, and (c) the books, records and documents of the Loan Parties or pertaining to the Collateral, in each case conducted by the Agents, Lenders, and their employees, representatives and independent contractors.

Field Audit means an Audit where the Auditor attends at a Woolworths Site.