Theft or embezzlement Sample Clauses

The 'Theft or embezzlement' clause defines the parties' rights and obligations in the event that property, funds, or assets are stolen or misappropriated by an individual involved in the agreement. Typically, this clause outlines procedures for reporting such incidents, the steps to recover losses, and the potential for immediate termination of the agreement if theft or embezzlement is discovered. Its core function is to protect parties from financial harm and provide a clear process for addressing and remedying dishonest or criminal conduct within the scope of the contract.
Theft or embezzlement. Other misconduct of a serious nature acted on by the Employer and agreed upon by the Union after its investigation.
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Related to Theft or embezzlement

  • Dishonesty Drinking alcoholic beverages on the job, or reporting for work while intoxicated.

  • No Felony Criminal Convictions Contractor represents that neither Contractor nor any of its employees, agents, or representatives, including any subcontractors and employees, agents, or representative of such subcontractors, have been convicted of a felony criminal offense or that if such a conviction has occurred Contractor has fully advised System Agency in writing of the facts and circumstances surrounding the convictions.

  • Fraud In this Agreement, Fraud means dishonestly obtaining a benefit, or causing a loss, by deception or other means, and includes alleged, attempted, suspected or detected fraud.

  • Criminal Convictions Grantee certifies that neither it nor any officer, director, partner or other managerial agent of Grantee has been convicted of a felony under the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002, nor a Class 3 or Class 2 felony under Illinois Securities Law of 1953, or that at least five (5) years have passed since the date of the conviction. Grantee further certifies that it is not barred from receiving an Award under 30 ILCS 500/50-10.5, and acknowledges that Grantor shall declare the Agreement void if this certification is false (30 ILCS 500/50-10.5).

  • Concealment Or Fraud We do not provide coverage to an "insured" who, whether before or after a loss, has: 1. Intentionally concealed or misrepresented any material fact or circumstance; 2. Engaged in fraudulent conduct; or 3. Made false statements; relating to this insurance.