FINANCIAL IRREGULARITIES Sample Clauses

FINANCIAL IRREGULARITIES. 7.1 If the Recipient has any grounds for suspecting any financial irregularity in the use of any Smart Energy Voucher, it must notify the Funder immediately, explain what steps are being taken to investigate the suspicion, and keep the Funder informed about the progress of the investigation. For these purposes “financial irregularity” includes fraud or other impropriety; mismanagement; use of the Smart Energy Voucher for unapproved purposes; and failure to comply with the requirements set out in this Agreement.
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FINANCIAL IRREGULARITIES. 15.1 The Grant Recipient is required to practise zero tolerance against corruption and other financial irregularities within and related to the Project. The zero tolerance policy applies to all staff members, consultants and other non-staff personnel and to cooperating partners and beneficiaries of the Grant. 15.2 Financial irregularities refers to all kinds of: a) corruption, including bribery, nepotism and illegal gratuities; b) misappropriation of cash, inventory and all other kinds of assets; c) financial and non-financial fraudulent statements; d) all other use of Project funds which is not in accordance with the implementation plan and budget. 15.3 In order to fulfil the zero tolerance requirement, the Grant Recipient shall: a) organise its operations and internal control systems in a way that financial irregularities are prevented and detected; b) do its utmost to prevent and stop financial irregularities within and related to the Project; c) require that all staff involved in, and any consultants, suppliers and contractors financed under the Project refrain from financial irregularities. 15.4 The Grant Recipient shall inform the Norwegian Ministry of Climate and Environment immediately of any indication of financial irregularities in or related to the Project. The Grant Recipient shall provide the Norwegian Ministry of Climate and Environment with an account of all the known facts and an assessment of how the matter should be followed up, including whether criminal prosecution or other sanctions are considered appropriate. 15.5 The matter will be handled by the Norwegian Ministry of Climate and Environment in accordance with the Norwegian Ministry of Climate and Environment’s guidelines for handling suspicion of financial irregularities. The Grant Recipient shall cooperate fully with the Norwegian Ministry of Climate and Environment’s investigation and follow-up. If requested by the Norwegian Ministry of Climate and Environment, the Grant Recipient shall initiate prosecution and/or apply other sanctions against persons or entities suspected of financial irregularities. 15.6 The Norwegian Ministry of Climate and Environment may claim repayment of all or parts of the Grant in accordance with article 17 of the General Conditions if it finds that financial irregularities have taken place in or related to the Project. The repayment claim may also include any interest, investment income or any other financial gain obtained as a result of the financial ir...
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FINANCIAL IRREGULARITIES. If the Grantee has good reason to suspect fraud or any other misuse of any grant funding paid under this Grant Contract, it must notify the Authority immediately, explain the steps that are being taken to investigate the suspicion and keep the Authority informed of the progress and outcome of the investigation.
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FINANCIAL IRREGULARITIES. 6.1 For purposes of this Agreement, and in accordance with the United Nations’ regulations, rules, policies, and procedures, “Financial Irregularities” are defined as follows:
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FINANCIAL IRREGULARITIES. 11.1. If the Lead LA has any grounds for suspecting financial irregularity in the use of any Xxxxx paid under this MOU, the Lead LA must notify the Secretary of State immediately, explain what steps are being taken to investigate the suspicion, and keep the Secretary of State informed about the progress of the investigation. For these purposes ‘financial irregularity’ includes fraud or other impropriety, mismanagement, and the use of the grant for purposes other than the purposes of the SEND and AP Change Programme.
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FINANCIAL IRREGULARITIES. 15.1 The Grant Recipient is required to practise zero tolerance against corruption and other financial irregularities within and related to the Project. The zero tolerance policy applies to all staff members, consultants and other non-staff personnel and to cooperating partners and beneficiaries of the Grant.
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FINANCIAL IRREGULARITIES. ADRA Myanmar shall have board-approved policies for fraud, mismanagement and whistle blowing, and shall comply with these. A copy shall be provided to ADRA Norway. ADRA Norway and ADRA Myanmar are required to practice a zero-tolerance against corruption and other financial irregularities within and related to the Project. The zero tolerance policy applies to all staff members, consultant and other non-staff personnel and to cooperating partners and beneficiaries of the Grant. Financial irregularities refers to all kinds of: a) Corruption, including bribery, nepotism and illegal gratuities; b) Misappropriation of cash, inventory and all other kinds of assets; c) Financial and non-financial fraudulent statements; d) All other use of Project funds which is not in accordance with the implementation plan and budget. In order to fulfil the zero tolerance requirement, ADRA Myanmar shall: a) Organise its operations and internal control systems in a way that financial irregularities, are prevented and detected; b) Do its utmost to prevent and stop financial irregularities within and related to the Project; c) Require that all staff involved in, and any consultants, suppliers and contractors financed under the Project refrain from financial irregularities; d) Ensure that a clause for annulment of any contracts with suppliers and sub-contractors be inserted for action in case of fraudulent procedures. ADRA Myanmar shall inform ADRA Norway immediately (within 24 hours) of any indication of financial irregularities in or related to the Project, to other projects implemented by the partner or to the administration account. ADRA Myanmar shall as soon as possible provide ADRA Norway with an account of all the known facts and an assessment of how the matter should be followed up, including whether criminal prosecution or other sanctions are considered appropriate. ADRA Norway will report the matter to Norad. The matter will be handled by Norad in accordance with Norad’s guidelines for handling suspicion of financial irregularities. ADRA Myanmar shall cooperate fully with ADRA Norway and Norad’s investigation and follow-up. If requested by Norad, ADRA Myanmar shall initiate prosecution and/or apply other sanctions against persons or entities suspected of financial irregularities. Norad may claim repayment of all or parts of the Grant in accordance with article 31 of the Agreement (Breach of the agreement) if it finds that any financial irregularities have taken place in or ...
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FINANCIAL IRREGULARITIES. If the Partner LA has any grounds for suspecting financial irregularity in the use of any Xxxxx paid under this MOU, the Partner LA must notify the Lead LA immediately, explain what steps are being taken to investigate the suspicion, and the Lead LA will keep the Secretary of State informed about the progress of the investigation. For these purposes ‘financial irregularity’ includes fraud or other impropriety, mismanagement, and the use of the grant for purposes other than the purposes of the SEND and AP Change Programme.
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Related to FINANCIAL IRREGULARITIES

  • Other Methods of Procurement of Goods and Works. The following table specifies the methods of procurement, other than International Competitive Bidding, which may be used for goods and works. The Procurement Plan shall specify the circumstances under which such methods may be used: (a) National Competitive Bidding (b) Shopping (c) Direct Contracting

  • Particular Methods of Procurement of Goods Works and Services (other than Consultants’ Services)

  • Financial Reports The Borrower shall, and shall cause each Subsidiary to, maintain a standard system of accounting in accordance with GAAP and shall furnish to the Administrative Agent, each Lender and each of their duly authorized representatives such information respecting the business and financial condition of the Borrower and each Subsidiary as the Administrative Agent or such Lender may reasonably request; and without any request, shall furnish to the Administrative Agent and the Lenders the following: (a) as soon as available, and in any event within 50 days after the last day of each Fiscal Quarter, a Borrowing Base Certificate showing the computation of the Borrowing Base in reasonable detail as of the close of business on the last day of such Fiscal Quarter, prepared by the Borrower and certified to by its chief financial officer or another officer of the Borrower acceptable to the Administrative Agent; (b) as soon as available, and in any event within 45 days after the close of each of the first three (3) Fiscal Quarters of each Fiscal Year of the Borrower a copy of the consolidated balance sheet of the Borrower and its Subsidiaries as of the last day of such Fiscal Quarter and the consolidated statements of income, and cash flows of the Borrower and its Subsidiaries for the Fiscal Quarter and for the fiscal year-to-date period then ended, each in reasonable detail showing in comparative form the figures for the corresponding date and period in the previous fiscal year, prepared by the Borrower in accordance with GAAP and certified to by its chief financial officer or another officer of the Borrower acceptable to the Administrative Agent (the delivery of the Borrower’s Form 10-Q shall satisfy this requirement); (c) with each of the financial statements furnished to the Lenders pursuant to subsections (b) and (d) hereof, a written certificate (“Compliance Certificate”) in the form attached hereto as Exhibit F signed by the chief financial officer of the Borrower or another officer of the Borrower acceptable to the Administrative Agent to the effect that to the best of such officer’s knowledge and belief no Default or Event of Default has occurred during the period covered by such statements or, if any such Default or Event of Default has occurred during such period, setting forth a description of such Default or Event of Default and specifying the action, if any, taken by the Borrower or any Subsidiary to remedy the same. Such certificate shall also set forth the calculations supporting such statements in respect of Section 8.21 hereof; and (d) as soon as available, and in any event within 90 days after the close of each fiscal year of the Borrower, a copy of the consolidated balance sheet of the Borrower and its Subsidiaries as of the last day of the fiscal year then ended and the consolidated statements of income, retained earnings, and cash flows of the Borrower and its Subsidiaries for the fiscal year then ended, and accompanying notes thereto, each in reasonable detail showing in comparative form the figures for the previous fiscal year, accompanied in the case of the consolidated financial statements by an unqualified opinion of Ernst & Young, LLP or another firm of independent public accountants of recognized national standing, selected by the Borrower and reasonably satisfactory to the Administrative Agent and the Required Lenders, to the effect that the consolidated financial statements have been prepared in accordance with GAAP and present fairly in accordance with GAAP the consolidated financial condition of the Borrower and its Subsidiaries as of the close of such fiscal year and the results of their operations and cash flows for the fiscal year then ended and that an examination of such accounts in connection with such financial statements has been made in accordance with generally accepted auditing standards and, accordingly, such examination included such tests of the accounting records and such other auditing procedures as were considered necessary in the circumstances (the delivery of the Borrower’s Form 10-K shall satisfy this requirement); (e) promptly after receipt thereof, any additional written reports, management letters or other detailed information contained in writing concerning significant aspects of the Borrower’s or any Subsidiary’s operations and financial affairs given to it by its independent public accountants; (f) promptly after the sending or filing thereof, copies of each financial statement, report, notice or proxy statement sent by the Borrower or any Subsidiary to its stockholders or other equity holders, and copies of each regular, periodic or special report, registration statement or prospectus (including all Form 10-K, Form 10-Q and Form 8-K reports) filed by the Borrower or any Subsidiary with any securities exchange or the Securities and Exchange Commission or any successor agency; (g) as soon as available, and in any event within 90 days after the end of each fiscal year of the Borrower, a copy of the Borrower’s consolidated projections of revenues, expenses and balance sheet on a quarter-by-quarter basis, with such projections in reasonable detail prepared by the Borrower and in form satisfactory to the Administrative Agent (which shall include a summary of all significant assumptions made in preparing such business plan); (h) notice of any Change of Control; (i) promptly after knowledge thereof shall have come to the attention of any responsible officer of the Borrower, written notice of any threatened or pending litigation or governmental or arbitration proceeding or labor controversy against the Borrower or any Subsidiary which, if adversely determined, could reasonably be expected to have a Material Adverse Effect or of the occurrence of any Default or Event of Default hereunder; (j) within 45 days of the end of each of the first 3 Fiscal Quarters and within 90 days after the close of the last Fiscal Quarter of the year (i) a list of all newly formed or acquired Subsidiaries during such quarter (such list shall contain the information relative to such new Subsidiaries as set forth in Schedule 6.2 hereto); (ii) a list of newly executed Significant Leases or Qualified Ground Leases during such quarter (upon receipt of which Schedule 1.1 and/or Schedule 6.26 shall be deemed amended to include references to such Significant Lease and/or Qualified Ground Leases); (iii) a copy of any notice of a material default or any other material notice (including without limitation property condition reviews) received by the Borrower or any Guarantor from any ground lessor under a Qualified Ground Lease or a Lease during such quarter and (iv) a schedule showing for such quarter (a) any Significant Lease that was or is continuing to be in default with respect to monthly minimum rent payments in excess of 60 days, and (b) any other Leases that in the aggregate generate more than $4,000,000 in annual contractual rents payable to the Borrower or its Subsidiaries that were or are continuing to be in default for a period in excess of 60 days on the monthly minimum rent payments due under such Leases; and (k) promptly after knowledge thereof shall have come to the attention of any responsible officer of the Borrower, written notice to each Lender if a Lease of any Property included in the Borrowing Base Value is more than thirty (30) days past due.

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