Common use of Access to and Retention of Books and Records Clause in Contracts

Access to and Retention of Books and Records. For a period of six (6) years from the Closing Date, each party shall have reasonable access to any books and records of the other party relating to the Purchased Assets and the Assumed Liabilities, and the requesting party, at its own expense, may make copies and extracts when such copies and extracts are required by regulatory authorities, for litigation purposes, or for tax or accounting purposes; provided that in the event that as of the end of such period, any tax year of Sellers is under examination by any taxing authority, such books and records shall be maintained by Purchaser until a final determination of the tax liability of Sellers for that year has been made. If such copies or extracts require use of a party’s equipment or facilities, the user shall reimburse the other party for all costs incurred, including without limitation employee expenses.

Appears in 2 contracts

Samples: Purchase and Assumption Agreement (1st United Bancorp, Inc.), Purchase and Assumption Agreement (Cib Marine Bancshares Inc)

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Access to and Retention of Books and Records. For a period of six (6) years from the Closing Date, each party shall have commercially reasonable access to any books and records of the other party relating to the Purchased Assets and the Assumed Liabilities, and the requesting party, at its own expense, may make copies and extracts when such copies and extracts are required by regulatory authorities, for litigation purposes, or for tax or accounting purposes; provided that in the event that as of the end of such period, any tax year of the Sellers is under examination by any taxing authority, such books and records shall be maintained by Purchaser until a final determination of the tax liability of Sellers for that year has been made. If such copies or extracts require use of a party’s 's equipment or facilities, the user shall reimburse the other party for all costs incurred, including without limitation employee expenses.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Sovereign Bancorp Inc)

Access to and Retention of Books and Records. For a period of six (6) years from the Closing Date, each party shall have commercially reasonable access to any books and records of the other party relating to the Purchased Assets and the Assumed Liabilities, and the requesting party, at its own expense, may make copies and extracts when such copies and extracts are required by regulatory authorities, for litigation purposes, or for tax or accounting purposes; provided that in the event that as of the end of such period, any tax year of Sellers Seller is under examination by any taxing authority, such books and records shall be maintained by Purchaser until a final determination of the tax liability of Sellers Seller for that year has been made. If such copies or extracts require use of a party’s 's equipment or facilities, the user shall reimburse the other party for all costs incurred, including without limitation employee expenses.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Enterprise Bancorp Inc /Ma/)

Access to and Retention of Books and Records. For a period of six (6) years months from the Closing Date, each party Party shall have commercially reasonable access to any books and records of the other party Party relating to the Purchased Assets and the Assumed Liabilities, and the requesting partyParty, at its own expense, may make copies and extracts when such copies and extracts are required by regulatory authoritiesany Governmental Bodies, for litigation purposes, or for tax or accounting purposes; provided provided, however, that in the event that as of the end of such period, period any tax year of Sellers Seller is under examination by any taxing authority, such books and records shall be maintained by Purchaser Buyer until a final determination of the tax liability of Sellers Seller for that year has been made. If such copies or extracts require use of a party’s Party's equipment or facilities, the user shall reimburse the other party Party for all costs incurred, including without limitation employee expenses.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Capital Corp of the West)

Access to and Retention of Books and Records. For a period of six two (62) years from the Closing DateDate and to the extent permitted by law, each party shall have commercially reasonable access to any books and records of the other party relating to the Purchased Assets and the Assumed Liabilities, and the requesting party, at its own expense, may make copies and extracts when such copies and extracts are required by regulatory authorities, for litigation purposes, or for tax or accounting purposes; provided that in the event that as of the end of such period, any tax year of Sellers Seller is under examination by any taxing authority, such books and records shall be maintained by Purchaser until a final determination of the tax liability of Sellers Seller for that year has been made. If such copies or extracts require use of a party’s equipment or facilities, the user shall reimburse the other party for all costs incurred, including without limitation employee expenses.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (DNB Financial Corp /Pa/)

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Access to and Retention of Books and Records. For a period of six (6) years from the First Closing Date, each party shall have commercially reasonable access to any books and records of the other party relating to the Purchased Assets and the Assumed Liabilities, and the requesting party, at its own expense, may make copies and extracts when such copies and extracts are required by regulatory authorities, for litigation purposes, or for tax or accounting purposes; provided that in the event that as of the end of such period, any tax year of the Sellers is under examination by any taxing authority, such books and records shall be maintained by Purchaser until a final determination of the tax liability of Sellers for that year has been made. If such copies or extracts require use of a party’s 's equipment or facilities, the user shall reimburse the other party for all costs incurred, including without limitation employee expenses.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Sovereign Bancorp Inc)

Access to and Retention of Books and Records. For a period of six (6) years from the Closing Date, each party shall have commercially reasonable access to any books and records of the other party relating to the Purchased Assets and the Assumed Liabilities, and the requesting party, at its own expense, may make copies and extracts when such copies and extracts are required by regulatory authorities, for litigation purposes, or for tax or accounting purposes; provided that in the event that as of the end of such period, any tax year of Sellers is under examination by any taxing authority, such books and records shall be maintained by Purchaser until a final determination of the tax liability of Sellers for that year has been made. If such copies or extracts require use of a party’s 's equipment or facilities, the user shall reimburse the other party for all costs incurred, including without limitation employee expenses.

Appears in 1 contract

Samples: Purchase and Assumption Agreement (Independent Bank Corp)

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