Initial Audit definition

Initial Audit is Bank’s inspection of Borrower’s Accounts, the Collateral, and Borrower’s Books, with results satisfactory to Bank in its sole and absolute discretion.
Initial Audit is Bank’s inspection of the Collateral, and Borrower’s Books.
Initial Audit shall be the receipt by Bank of the results of a complete audit of Borrower's Accounts, with results satisfactory to Bank in its sole and absolute discretion.

Examples of Initial Audit in a sentence

  • In furtherance of our commitment to industry collaborative controls, and in particular the RMAP program, 3M was one of the early donors to the RMI Initial Audit Fund (the “Fund”) to provide financial assistance to smelters for their first-year audit.

  • Notwithstanding the foregoing, no Credit Extension may be requested prior to the Initial Audit.

  • The foregoing inspections and audits (including, without limitation, the Initial Audit) shall be at Borrower’s expense, and the charge therefor shall be $850 per person per day (or such higher amount as shall represent Bank’s then-current standard charge for the same), plus reasonable out-of-pocket expenses.

  • In addition to the Initial Audit, at reasonable times, on one (1) Business Day’s notice (provided no notice is required if an Event of Default has occurred and is continuing), Bank, or its agents, shall have the right to inspect the Collateral and the right to audit and copy Borrower’s Books.

  • Potential vendors need to fill out our “Vendor Initial Audit Report” sent by HFT Global Sourcing during initial discussions.


More Definitions of Initial Audit

Initial Audit is defined in Section 6.2(d).
Initial Audit is defined in Section 6.10.
Initial Audit means the audit conducted to ensure the overall competency of a laboratory to carry out testing of food items as per Food Safety and Standards Regulations, 2011 at the time of recognition;
Initial Audit means an initial overpayment audit to examine claims data and provider records or both
Initial Audit means an initial overpayment audit to examine claims data and provider records or both to determine whether the provider has complied with applicable medicaid rules, regulations, policies, and agreements.
Initial Audit is the Lendersinspection of Borrower’s Accounts, the Collateral, and Borrower’s Books. The Initial Audit was completed by SVB on January 30, 2017.
Initial Audit shall be the receipt by ORIX of the results of a complete audit of Borrower’s Accounts, with results satisfactory to ORIX in its sole and absolute discretion.