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Common use of Internal Accounting Clause in Contracts

Internal Accounting. The Company maintains a system of internal accounting controls sufficient to provide reasonable assurance that (a) transactions are executed in accordance with management's general or specific authorization; (b) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (c) access to assets is permitted only in accordance with management's general or specific authorization; and (d) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

Appears in 4 contracts

Samples: Underwriting Agreement (Organic Food Products Inc), Underwriting Agreement (Organic Food Products Inc), Underwriting Agreement (Md Labs Inc)

Internal Accounting. The Company maintains a system of internal accounting controls sufficient to provide reasonable assurance that (a) transactions are executed in accordance with management's general or specific authorization; (b) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (c) access to assets is permitted only in accordance with management's general or specific authorization; and (d) the recorded record accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

Appears in 3 contracts

Samples: Underwriting Agreement (Shopping Com), Underwriting Agreement (Shopping Com), Underwriting Agreement (Shopping Com)

Internal Accounting. The Company maintains a system of internal accounting controls sufficient to provide reasonable assurance assurances that (ai) transactions are executed in accordance with management's general or specific authorization; , (bii) transactions are recorded as necessary in order to permit preparation of financial statements in conformity accordance with generally accepted accounting principles and to maintain asset accountability; accountability for assets, (ciii) access to assets is permitted only in accordance with management's general or specific authorization; authorization and (div) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

Appears in 2 contracts

Samples: Underwriting Agreement (Take to Auction Com Inc), Underwriting Agreement (Shochet Holding Corp)

Internal Accounting. The Company maintains and each of its subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that (a) transactions are executed in accordance with management's general or specific authorization; (b) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (c) access to assets is permitted only in accordance with management's general or specific authorization; and (d) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

Appears in 2 contracts

Samples: Underwriting Agreement (New Frontier Media Inc /Co/), Underwriting Agreement (New Frontier Media Inc /Co/)

Internal Accounting. The Company maintains and its subsidiaries ------------------- maintain a system of internal accounting controls sufficient to provide reasonable assurance assurances that (aA) transactions are executed in accordance with management's general or specific authorization; , (bB) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; accountability for assets, (cC) access to assets is permitted only in accordance with management's general or specific authorization; authorization and (dD) the recorded accountability accounting for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

Appears in 2 contracts

Samples: Purchase Agreement (Isle of Capri Casinos Inc), Purchase Agreement (Grand Palais Riverboat Inc)

Internal Accounting. The Company and each of its subsidiaries maintains a system of internal accounting controls sufficient to provide reasonable assurance that (a1) transactions are executed in accordance with management's general or specific authorizationauthorizations; (b2) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (c3) access to assets is permitted only in accordance with management's general or specific authorization; and (d) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.and

Appears in 1 contract

Samples: Purchase Agreement (Heico Corp)

Internal Accounting. The Company maintains a system of ------------------- internal accounting controls sufficient to provide reasonable assurance that (ai) transactions are executed in accordance with management's general or and specific authorizationauthorizations; (bii) transactions are recorded as necessary to permit preparation preparations of financial statements in conformity with generally accepted accounting principles GAAP and to maintain asset accountabilityaccountability for assets; (ciii) access to assets is permitted only in accordance with management's general or specific authorizationauthorizations; and (div) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

Appears in 1 contract

Samples: u.s. Purchase Agreement (Ipg Photonics Corp)

Internal Accounting. The Company maintains a system of internal accounting controls sufficient to provide reasonable assurance assurances that (ai) transactions are executed in accordance with management's general or specific authorization; (bii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountabilityaccountability for assets; (ciii) access to assets is permitted only in accordance with management's general or specific authorization; and (div) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

Appears in 1 contract

Samples: Rights Offering Agreement (National Mercantile Bancorp)

Internal Accounting. The Company maintains and its subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance assurances that (aA) transactions are executed in accordance with management's ’s general or specific authorization; , (bB) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; accountability for assets, (cC) access to assets is permitted only in accordance with management's ’s general or specific authorization; authorization and (dD) the recorded accountability accounting for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

Appears in 1 contract

Samples: Purchase Agreement (St Charles Gaming Co Inc)

Internal Accounting. The Company maintains a system of internal accounting controls sufficient to provide reasonable assurance assurances that (ai) transactions are executed in accordance with management's general or specific authorization; (bii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountabilityaccountability for assets; (ciii) access to assets is permitted only in accordance with management's general or specific authorization; and (div) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differencesdifference.

Appears in 1 contract

Samples: Rights Offering Agreement (National Mercantile Bancorp)