Common use of Internal Control System Clause in Contracts

Internal Control System. Each Group Company shall maintain the books and records in accordance with sound business practices and implement and maintain an adequate system of procedures and controls with respect to finance, management, and accounting that meets international standards of good practice and is reasonably satisfactory to a majority of the Board (which majority shall include a majority of Preferred Directors).

Appears in 2 contracts

Samples: Shareholders Agreement, Second Amended and Restated Shareholders Agreement (LightInTheBox Holding Co., Ltd.)

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Internal Control System. Each The Group Parties shall cause each Group Company shall to maintain the books and records in accordance with sound business practices and implement and maintain an adequate system of procedures and controls with respect to finance, management, and accounting that meets international standards of good practice and is reasonably satisfactory to a majority of the Board (which majority shall include a majority of Preferred Directors).Class B Majority Holders. 9.10

Appears in 1 contract

Samples: Investors Rights Agreement

Internal Control System. Each Group Company shall maintain the books and records in accordance with sound business practices and implement and maintain an adequate system of procedures and controls with respect to finance, management, and accounting that meets international standards standard of good practice and is reasonably satisfactory to a majority of the Board (which majority shall include a majority of Preferred Directors)Series A Majority Holders.

Appears in 1 contract

Samples: Investor and Registration Rights Agreement (Yayi International Inc)

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Internal Control System. Each The Group Parties shall cause each Group Company shall to maintain the books and records in accordance with sound business practices and implement and maintain an adequate system of procedures and controls with respect to finance, management, and accounting that meets international standards of good practice and is reasonably satisfactory to a majority of the Board (which majority shall include a majority of Preferred Directors)Class B Majority Holders.

Appears in 1 contract

Samples: Investors Rights Agreement (China Techfaith Wireless Communication Technology LTD)

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