REGULATORY MATTERS AND AUDIT RIGHTS Sample Clauses

REGULATORY MATTERS AND AUDIT RIGHTS. General 29.1 Without prejudice to the generality of clause 3.2: 29.1.1 the Service Provider shall comply with all Service Provider Applicable Regulations; and 29.1.2 Aspen may notify the Service Provider: (a) of any Aspen Applicable Regulations it specifically requires the Service Provider to comply with (including any requirements set out in the Performance Metrics to either comply with Aspen Applicable Regulations referenced there or to ensure compliance with Aspen Applicable Regulations by following certain policies or procedures); and/or (b) if it requires compliance with what would otherwise be a Service Provider Applicable Regulation in a Aspen specific way (such specific compliance becoming compliance with a Aspen Applicable Regulation for the purposes of this Agreement and the definition of Service Provider Applicable Regulation). Once any such Aspen Applicable Regulations are identified the Parties will agree how they are to be complied with. For the avoidance of doubt, such notifications under clause 29.1.2 may relate to compliance with Aspen Applicable Regulations in any jurisdictions worldwide in which Aspen or Aspen Affiliates operate or do business from time to time. 29.2 The Service Provider recognises that Aspen and Aspen Affiliates are subject to regulation by (or have regulatory responsibilities in respect of) the regulatory authorities in the jurisdictions in which it operates and that, in particular, Aspen has regulatory responsibilities in respect of: 29.2.1 the U.S. Securities and Exchange Commission and Financial Industry Regulatory Authority; 29.2.2 the Financial Conduct Authority, the Prudential Regulation Authority and Lloyd’s of London; 29.2.3 the Bermuda Monetary Authority; 29.2.4 North Dakota Department of Insurance and the Texas Department of Insurance; 29.2.5 the Jersey Financial Services Commission; 29.2.6 the Swiss Financial Market Supervisory Authority; 29.2.7 the Monetary Authority of Singapore; 29.2.8 The Australian Prudential Regulation Authority; 29.2.9 the Central Bank of Ireland; 29.2.10 the Office of the Superintendent of Financial Institutions; 29.2.11 the successor organisations/regulators of each entity listed in clauses 29.2.1 to 29.2.9 from time to time; and 29.2.12 various other relevant governmental agencies or bodies around the world. 29.3 The Service Provider shall make any modifications to the Services as reasonably necessary as a result of changes to Service Provider Applicable Regulations at no extra cos...
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REGULATORY MATTERS AND AUDIT RIGHTS 
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Related to REGULATORY MATTERS AND AUDIT RIGHTS

  • INSPECTIONS AND AUDITS 30 A. ADMINISTRATOR, any authorized representative of COUNTY, any authorized representative 31 of the State of California, the Secretary of the United States Department of Health and Human Services, 32 the Comptroller General of the United States, or any other of their authorized representatives, shall have 33 access to any books, documents, and records, including but not limited to, financial statements, general 34 ledgers, relevant accounting systems, medical and client records, of CONTRACTOR that are directly 35 pertinent to this Agreement, for the purpose of responding to a beneficiary complaint or conducting an 36 audit, review, evaluation, or examination, or making transcripts during the periods of retention set forth 37 in the Records Management and Maintenance Paragraph of this Agreement. Such persons may at all 1 reasonable times inspect or otherwise evaluate the services provided pursuant to this Agreement, and the 2 premises in which they are provided. 3 B. CONTRACTOR shall actively participate and cooperate with any person specified in 4 Subparagraph A. above in any evaluation or monitoring of the services provided pursuant to this 5 Agreement, and shall provide the above–mentioned persons adequate office space to conduct such 6 evaluation or monitoring. 7 C. AUDIT RESPONSE 8 1. Following an audit report, in the event of non–compliance with applicable laws and 9 regulations governing funds provided through this Agreement, COUNTY may terminate this Agreement 10 as provided for in the Termination Paragraph or direct CONTRACTOR to immediately implement 11 appropriate corrective action. A plan of corrective action shall be submitted to ADMINISTRATOR in 12 writing within thirty (30) calendar days after receiving notice from ADMINISTRATOR. 13 2. If the audit reveals that money is payable from one party to the other, that is, reimbursement 14 by CONTRACTOR to COUNTY, or payment of sums due from COUNTY to CONTRACTOR, said 15 funds shall be due and payable from one party to the other within sixty (60) calendar days of receipt of 16 the audit results. If reimbursement is due from CONTRACTOR to COUNTY, and such reimbursement 17 is not received within said sixty (60) calendar days, COUNTY may, in addition to any other remedies 18 provided by law, reduce any amount owed CONTRACTOR by an amount not to exceed the 19 reimbursement due COUNTY. 20 D. CONTRACTOR shall retain a licensed certified public accountant, who will prepare an annual 21 Single Audit as required by 31 USC 7501 – 7507, as well as its implementing regulations under 2 CFR 22 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal 23 Awards. CONTRACTOR shall forward the Single Audit to ADMINISTRATOR within fourteen (14) 24 calendar days of receipt. 25 E. CONTRACTOR shall forward to ADMINISTRATOR a copy of any audit report within 26 fourteen (14) calendar days of receipt. Such audit shall include, but not be limited to, management, 27 financial, programmatic or any other type of audit of CONTRACTOR’s operations, whether or not the 28 cost of such operation or audit is reimbursed in whole or in part through this Agreement. 29

  • Checks and Audits The parties of the agreement undertake to provide any detailed information requested by the European Commission, the National Agency of [country] or by any other outside body authorised by the European Commission or the National Agency of [country] to check that the mobility period and the provisions of the agreement are being properly implemented.

  • Regulatory Matters The parties will negotiate in good faith to resolve regulatory criticisms or concerns expressed by the Office of the Comptroller of the Currency or other U.S. federal or state banking Regulators that can reasonably be addressed through a modification of the Agreement or adoption of mutually agreeable policies or procedures to prevent or resolve a Material Default described by clause (iii) of such definition, subject to applicable legal requirements including restrictions on disclosing confidential supervisory information.

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