Internal Control Agreements Clause Samples
An Internal Control Agreements clause establishes the requirement for parties to implement and maintain systems and procedures that ensure the accuracy and reliability of financial reporting and compliance with applicable laws. Typically, this clause outlines the standards or frameworks to be followed, such as those set by regulatory bodies, and may require regular audits or certifications to verify compliance. Its core practical function is to mitigate the risk of financial misstatements or regulatory breaches by ensuring robust internal controls are in place throughout the duration of the agreement.
Internal Control Agreements. At any time after the execution and delivery thereof, any Internal Control Agreement ceases to be in full force and effect (other than by its terms) or shall be declared null and void, except where such cessation or declaration would not result in a Material Adverse Effect.
Internal Control Agreements. Each of the Internal Control Agreements that has been duly executed by the parties thereto is in full force and effect and constitutes a legal, valid and binding obligation of the parties thereto, enforceable in accordance with its terms, except (1) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’ rights generally, and (2) as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable principle.
Internal Control Agreements. At any time after the execution and delivery thereof any Internal Control Agreement ceases to be in full force and effect (other than by its terms) or shall be declared null and void or any breach or default shall occur thereunder or under any commitment letter, power of attorney, document or agreement delivered to the Agent in connection therewith;
(ii) Section 8.2(a) (Certain Remedies) of the Credit Agreement is hereby amended and restated in its entirety to read as follows: