Maintenance of Internal Controls. The Company and each of its subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
Appears in 3 contracts
Samples: Purchase Agreement (Clayton Williams Energy Inc /De), Purchase Agreement (Clayton Williams Energy Inc /De), Purchase Agreement (Clayton Williams Energy Inc /De)
Maintenance of Internal Controls. The Company and each of its subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance assurances that (iA) transactions are executed in accordance with management’s 's general or specific authorization; , (iiB) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; , (iiiC) access to assets is permitted only in accordance with management’s 's general or specific authorization; , and (ivD) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.. (xxv)
Appears in 2 contracts
Samples: Brylane Inc, Brylane Inc
Maintenance of Internal Controls. The Company and each of its subsidiaries the Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
Appears in 2 contracts
Samples: Underwriting Agreement (Energy Xxi (Bermuda) LTD), Underwriting Agreement (Energy Xxi (Bermuda) LTD)
Maintenance of Internal Controls. The Company and each of its -------------------------------- subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance assurances that (iA) transactions are executed in accordance with management’s 's general or specific authorization; , (iiB) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain accountability for assets; , (iiiC) access to assets is permitted only in accordance with management’s general 's generally or specific authorization; , and (ivD) 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: Purchase Agreement (Brylane Inc)