Anti-Corruption Covenant
In connection with its transaction with Honda Access Asia & Oceania Co., Ltd. (“Honda Access”) (the “Transaction”), on behalf of the [insert company’s name] (the “Company”), the undersigned hereby represents, warrants and covenants that:
1. The Company, its Affiliates, its or its Affiliates’ directors, officers, employees, agents and any other persons acting for or on behalf of the Company or its Affiliates in relation to the Transaction (each, a “Covenant Party”) shall comply with all Anti-Corruption Laws.
2. The Company shall not cause Honda Access and its Affiliates to be in violation of any Anti-Corruption Laws.
3. No Covenant Party has or will pay, offer, promise to pay or authorize the payment of any money, gift or anything of value, including without limitation, any facilitation payments (collectively, “Value”) to any Government Official or to any person under circumstances where it is known to be probable that such Value will be offered, promised or authorized, directly or indirectly, to any Government Official, for the purpose of influencing any act or decision of such Government Official to obtain or retain business or to secure any improper advantage, or direct business or any improper advantage to any person. No Covenant Party has or will pay, offer, promise to pay or authorize the payment of Value to any person (i) to induce the person to perform improperly a relevant function or activity, (ii) to reward a person for the improper performance of such a function or activity or (iii) where the Covenant Party knows or believes that the acceptance of the Value would itself constitute the improper performance of a relevant function or activity.
4. The Company understands that a violation of the Anti-Corruption Laws is a serious crime. In order to prevent such violation, each Covenant Party shall maintain and undertake to keep up to date its own compliance policy to ensure that (i) all applicable Anti-Corruption Laws shall be complied with, (ii) reasonable measures are taken to prevent the occurrence of a violation of any Anti-Corruption Laws and (iii) a reasonable monitoring system is implemented to detect the occurrence of any violation of any Anti-Corruption Laws by the Covenant Party.
5. In the event Honda Access has reason to believe that a breach of any of the representations and warranties in this Letter has occurred or may occur, Honda Access shall have the right to audit the relevant Covenant Party in order to satisfy itself no breach has occurred. The Covenant Party shall cooperate fully in any audit conducted by Honda Access. Honda Access may suspend its obligations under the Transaction including withholding further payments to the Company until such time as it has received confirmation to its satisfaction that no breach has occurred or will occur. Honda Access shall not be liable for any claims, losses, or damages whatsoever related to its decision to suspend its obligations.
6. In the event the Company has reason to believe that a breach of any of the representations and warranties in this Letter has occurred or may occur, the Company shall immediately notify Honda Access and provide all relevant information as may be requested by Honda Access
7. In the event a breach of any of the representations and warranties in this Letter occurs, Honda Access will have the right to terminate the Transaction immediately. Honda Access shall not be liable for any claims, losses, or damages whatsoever related to its decision to terminate the Transaction. The Company shall indemnify and hold Honda Access harmless against any and all claims, losses, or damages arising from or related to such breach and termination of the Transaction.
8. The terms defined below have the following meanings in this Letter.
(1) “Anti-Corruption Laws” means, individually or collectively, the US Foreign Corrupt Practices Act, the UK Bribery Act 2010, the Unfair Competition Prevention Act of Japan and any relevant anti-bribery or anti-corruption laws, regulations, rules and orders applicable to Honda Access, the Company, or the Transaction.
(2) “Affiliate” means any company that directly or indirectly controls, is controlled by or is under common control with the subject company.
(3) “Control” and its derivative terms means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of the person or to appoint a majority of the members of the board of directors, whether through the ownership of voting securities, by contract or otherwise.
(4) “Government Official” means any officer or employee of a government at any level or of a Controlled entity thereof or of a public international organization, or a person acting in an official capacity for or on behalf of any such government or public international organization, or a candidate for political office, or a political party or party official.
Anti-Corruption CovenantIn connection with its transaction with Honda Access Asia & Oceania Co., Ltd. (“Honda Access”) (the “Transaction”), on behalf of the [insert company’s name] (the “Company”), the undersigned hereby represents, warrants and covenants that:1. The Company, its Affiliates, its or its Affiliates’ directors, officers, employees, agents and any other persons acting for or on behalf of the Company or its Affiliates in relation to the Transaction (each, a “Covenant Party”) shall comply with all Anti-Corruption Laws. 2. The Company shall not cause Honda Access and its Affiliates to be in violation of any Anti-Corruption Laws. 3. No Covenant Party has or will pay, offer, promise to pay or authorize the payment of any money, gift or anything of value, including without limitation, any facilitation payments (collectively, “Value”) to any Government Official or to any person under circumstances where it is known to be probable that such Value will be offered, promised or authorized, directly or indirectly, to any Government Official, for the purpose of influencing any act or decision of such Government Official to obtain or retain business or to secure any improper advantage, or direct business or any improper advantage to any person. No Covenant Party has or will pay, offer, promise to pay or authorize the payment of Value to any person (i) to induce the person to perform improperly a relevant function or activity, (ii) to reward a person for the improper performance of such a function or activity or (iii) where the Covenant Party knows or believes that the acceptance of the Value would itself constitute the improper performance of a relevant function or activity. 4. The Company understands that a violation of the Anti-Corruption Laws is a serious crime. In order to prevent such violation, each Covenant Party shall maintain and undertake to keep up to date its own compliance policy to ensure that (i) all applicable Anti-Corruption Laws shall be complied with, (ii) reasonable measures are taken to prevent the occurrence of a violation of any Anti-Corruption Laws and (iii) a reasonable monitoring system is implemented to detect the occurrence of any violation of any Anti-Corruption Laws by the Covenant Party. 5. In the event Honda Access has reason to believe that a breach of any of the representations and warranties in this Letter has occurred or may occur, Honda Access shall have the right to audit the relevant Covenant Party in order to satisfy itself no breach has occurred. The Covenant Party shall cooperate fully in any audit conducted by Honda Access. Honda Access may suspend its obligations under the Transaction including withholding further payments to the Company until such time as it has received confirmation to its satisfaction that no breach has occurred or will occur. Honda Access shall not be liable for any claims, losses, or damages whatsoever related to its decision to suspend its obligations. 6. In the event the Company has reason to believe that a breach of any of the representations and warranties in this Letter has occurred or may occur, the Company shall immediately notify Honda Access and provide all relevant information as may be requested by Honda Access 7. In the event a breach of any of the representations and warranties in this Letter occurs, Honda Access will have the right to terminate the Transaction immediately. Honda Access shall not be liable for any claims, losses, or damages whatsoever related to its decision to terminate the Transaction. The Company shall indemnify and hold Honda Access harmless against any and all claims, losses, or damages arising from or related to such breach and termination of the Transaction. 8. The terms defined below have the following meanings in this Letter. (1) “Anti-Corruption Laws” means, individually or collectively, the US Foreign Corrupt Practices Act, the UK Bribery Act 2010, the Unfair Competition Prevention Act of Japan and any relevant anti-bribery or anti-corruption laws, regulations, rules and orders applicable to Honda Access, the Company, or the Transaction.(2) “Affiliate” means any company that directly or indirectly controls, is controlled by or is under common control with the subject company.(3) “Control” and its derivative terms means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of the person or to appoint a majority of the members of the board of directors, whether through the ownership of voting securities, by contract or otherwise. (4) “Government Official” means any officer or employee of a government at any level or of a Controlled entity thereof or of a public international organization, or a person acting in an official capacity for or on behalf of any such government or public international organization, or a candidate for political office, or a political party or party official.
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