08Books and Records Sample Clauses
The 'Books and Records' clause requires a party to maintain accurate and complete documentation related to the agreement. Typically, this means keeping financial records, transaction logs, and other relevant documents in a manner that allows for easy review and verification. This clause often grants the other party the right to inspect or audit these records to ensure compliance with contractual obligations. Its core function is to promote transparency and accountability, reducing the risk of disputes over performance or payments.
08Books and Records. Maintain proper books of record and account, in which full, true and correct entries in conformity in all material respects with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of the Borrower or such Subsidiary, as the case may be.
08Books and Records. (a) In order to facilitate the resolution of any claims made against or incurred by Seller prior to the applicable Closing, or for any other reasonable purpose, for a period of three (3) years after the applicable Closing, Buyer shall:
(i) retain the Books and Records (including personnel files) relating to periods prior to the applicable Closing in a manner reasonably consistent with the prior practices of Seller; and
(ii) upon reasonable notice, afford a Representative of Seller reasonable access (including the right to make, at Seller’s expense, photocopies), during normal business hours, to such Books and Records.
(b) In order to facilitate the resolution of any claims made by or against or incurred by ▇▇▇▇▇ after the Closing, or for any other reasonable purpose, for a period of three (3) years after the Closing, Seller shall:
(i) retain the books and records (including personnel files) of Seller which relate to the Business and its operations for periods prior to the Closing; and
(ii) upon reasonable notice, afford a Representative of Buyer reasonable access (including the right to make, at ▇▇▇▇▇’s expense, photocopies), during normal business hours, to such books and records.
(c) Neither Buyer nor Seller shall be obligated to provide the other party with access to any books or records (including personnel files) pursuant to this Section 6.08 where such access would violate any Law.
08Books and Records. (a) In order to facilitate the resolution of any claims made against or incurred by the Seller prior to the Closing, or for any other reasonable purpose, for a period of two (2) years after the Closing, the Buyer shall retain the books and records (including personnel files) of the Company relating to periods prior to the Closing in a manner reasonably consistent with the prior practices of the Company; and, upon reasonable notice, afford the Representatives of the Seller reasonable access (including the right to make, at the Seller’s expense, photocopies), during normal business hours, to such books and records; provided, however, that any books and records related to Tax matters shall be retained pursuant to the periods set forth in ARTICLE VII.
(b) In order to facilitate the resolution of any claims made by or against or incurred by the Buyer or the Company after the Closing, or for any other reasonable purpose, for a period of two (2) years following the Closing, the Seller shall retain any books and records (including personnel files) remaining in their possession of or relating to the Company and its operations for periods prior to the Closing; and, upon reasonable notice, afford the Representatives of the Buyer or the Company reasonable access (including the right to make, at the Buyer's expense, photocopies), during normal business hours, to such books and records; provided, however, that any books and records related to Tax matters shall be retained pursuant to the periods set forth in ARTICLE VII.