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.

  • During the course of our examination of the books and records of the company, carried out in accordance with the generally accepted auditing practices in India and according to the information and explanation given to us, no instance of Material Fraud by the company or on the company by its officers and employees have been noticed or reported during the year.

  • 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.

  • 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.

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

  • 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.

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

Related to Material Fraud

  • Misrepresentation has the meaning ascribed thereto in the Securities Act;

  • 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.

  • Adverse Effect has the meaning assigned to such term in Section 2.1.5;

  • 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.

  • Intentional for purposes of this Agreement, no act or failure to act on the part of the Executive shall be deemed to have been intentional if it was due primarily to an error in judgment or negligence. An act or failure to act on the Executive’s part shall be considered intentional if it is not in good faith and if it is without a reasonable belief that the action or failure to act is in the best interests of the Bank.

  • Knowledge of Sellers means the actual knowledge of the individuals listed on Section 1.1D of the Sellers’ Disclosure Schedule as to the matters represented and as of the date the representation is made.

  • 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 after reasonable inquiry of Xxxxxx X. Xxxxxxxxx, Xxxxxxx Xxxxxxx, Xxx Xxxxxxxx, Xxxx Xxxxxx and B. Xxxxxx Xxxxx III.

  • Material Information means information for which there is a substantial likelihood that a reasonable investor would consider it important in making investment decisions, or information that is reasonably certain to have a substantial effect on the price of a company’s securities. Examples of material information include information regarding dividend changes, earnings estimates, changes in previously released earnings estimates, significant merger or acquisition proposals or agreements, major litigation, liquidity problems, and extraordinary management developments.

  • Material Litigation is defined in Section 6.7.