Common use of Accounting and Other Controls Clause in Contracts

Accounting and Other Controls. The Company has established for ----------------------------- itself and each Subsidiary and, with respect to future acquisitions, will establish, a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions were, are or, in the case of such future acquisitions, will be executed in accordance with management's general or specific authorization; (ii) transactions were, are or, in the case of such future acquisitions, will be recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; (iii) access to assets was, is or, in the case of such future acquisitions, will be permitted only in accordance with management's general or specific authorization; and (iv) the recorded accountability for assets was, is or, in the case of such future acquisitions, will be compared with existing assets at reasonable intervals and appropriate action was, is or, in the case of such future acquisitions, will be taken with respect to any differences.

Appears in 3 contracts

Samples: International Purchase Agreement (Ixl Enterprises Inc), Purchase Agreement (Ixl Enterprises Inc), Purchase Agreement (Ixl Enterprises Inc)

AutoNDA by SimpleDocs

Accounting and Other Controls. The Company has established for itself ----------------------------- itself and each Subsidiary and, with respect to future acquisitions, will establish, a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions were, are or, in the case of such future acquisitions, will be executed in accordance with management's general or specific authorization; (ii) transactions were, are or, in the case of such future acquisitions, will be recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; (iii) access to assets was, is or, in the case of such future acquisitions, will be permitted only in accordance with management's general or specific authorization; and (iv) the recorded accountability for assets was, is or, in the case of such future acquisitions, will be compared with existing assets at reasonable intervals and appropriate action was, is or, in the case of such future acquisitions, will be taken with respect to any differences.

Appears in 1 contract

Samples: Purchase Agreement (Ixl Enterprises Inc)

AutoNDA by SimpleDocs

Accounting and Other Controls. The Company has established ----------------------------- for ----------------------------- itself and each Subsidiary and, with respect to future acquisitions, will establish, a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions were, are or, in the case of such future acquisitions, will be executed in accordance with management's general or specific authorization; (ii) transactions were, are or, in the case of such future acquisitions, will be recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; (iii) access to assets was, is or, in the case of such future acquisitions, will be permitted only in accordance with management's general or specific authorization; and (iv) the recorded accountability for assets was, is or, in the case of such future acquisitions, will be compared with existing assets at reasonable intervals and appropriate action was, is or, in the case of such future acquisitions, will be taken with respect to any differences.

Appears in 1 contract

Samples: International Purchase Agreement (Ixl Enterprises Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.