Compensation Value Auditor Clause Samples
The Compensation Value Auditor clause establishes the appointment of an independent auditor to review and verify the calculation of compensation values under the agreement. Typically, this auditor examines financial records, payment calculations, or other relevant data to ensure that compensation amounts are accurate and comply with the contract's terms. By providing an impartial assessment, this clause helps resolve disputes over compensation, ensures transparency, and builds trust between the parties regarding financial matters.
Compensation Value Auditor. 10.7.1 The Transporters will, subject to paragraphs 10.7.3 and 10.7.4, appoint a person eligible for appointment as a company auditor (within the meaning of Part II of the Companies Act 1989) to conduct a review (after the relevant period) of whether, in the opinion of such person, in each relevant period, in determining the values of Compensation Relevant Values, each Transporter has complied in material respects with applicable provisions of the Code.
10.7.2 For the purposes of this paragraph 10:
(a) a "Compensation Relevant Value" is the value of any amount or percentage, by reference to which (pursuant to particular provisions of the Code) the amount or maximum amount payable by the Transporters by way of compensation to Users is determined, specified as being such in any provision of the Code;
Compensation Value Auditor. 10.7.1 The Transporters will, subject to paragraphs 10.7.3 and 10.7.4, appoint a person eligible for appointment as a company auditor (within the meaning of Part II of the Companies Act 1989) to conduct a review (after the relevant period) of whether, in the opinion of such person, in each relevant period, in determining the values of Compensation Relevant Values, each Transporter has complied in material respects with applicable provisions of the Code.
10.7.2 For the purposes of this paragraph 10: Uniform Network Code – Transportation Principal Document Section V (a) a "Compensation Relevant Value" is the value of any amount or percentage, by reference to which (pursuant to particular provisions of the Code) the amount or maximum amount payable by the Transporters by way of compensation to Users is determined, specified as being such in any provision of the Code;
Compensation Value Auditor. 13.7.1 13.8.1 TranscoThe Transporters will, subject to paragraphs 13.8.313.7.3 and 13.8.4,13.7.4, appoint in accordance with paragraph 13.2 a person eligible for appointment as a company auditor (within the meaning of Part II of the Companies Act 1989) to conduct a review (after the relevant period) of whether, in the opinion of such person, in each relevant period, in determining the values of Compensation Relevant Values, Transcoeach Transporter has complied in material respects with applicable provisions of the Code.