Common use of Sarbanes-Oxley Act Clause in Contracts

Sarbanes-Oxley Act. Property Manager, at it sole expense, shall comply with all requirements set forth in the Sarbanes Oxley Act of 2002 with respect to the Project. Specifically, Property Manager will be required to produce documentation of all accounting policies and procedures which identify all key controls and describes in detail the processes which ultimately affect the Project financial statements. In addition, Property Manager may be required to perform periodic testing of such identified controls and remediate any control weaknesses identified through such test work. All policies and procedures, documentation and test work will be performed to the specification of the Owner including but not limited to, implementation of appropriate controls, scope of test work including such as sample size, measures to be taken from remediation, etc.