Accounting and Audit Rights. 18.1. Statements, Books, and Records. Contractor agrees to furnish OMPA, in such form as will be reasonably satisfactory to OMPA, such detailed statements pertaining to the cost of material and labor as may be necessary for OMPA to comply with the requirements of its internal purchasing and accounting policies or any governmental regulatory authority having jurisdiction over OMPA. In determining the amount of compensation payable to Contractor, Contractor will, during the period of performance of work invoiced on a time and material basis, maintain books, records, documents, and other supporting data relating to the amounts invoiced.
Accounting and Audit Rights. Each LICENSED PARTY shall maintain complete and accurate books and records, for no less than seven years, relating to the rights and obligations under this AGREEMENT and any amounts payable to JHU. Such books and records shall include information sufficient to permit JHU to confirm the accuracy and completeness of any payments and reports delivered to JHU and compliance in all other respects with this AGREEMENT. Upon 14 days’ notice, a LICENSED PARTY shall make such books and records available for inspection by JHU or its designee (provided that such designee has signed a confidentiality agreement with terms consistent with those in Article 6 of this Agreement) during normal business hours, to verify any reports, accuracy and completeness of payments and/or compliance with this AGREEMENT. In the event the inspections shows an underpayment to JHU of 5% or more for any quarter during the period examined, LICENSEE shall bear the full cost of the inspection, which shall be due and payable (along with past due ROYALTY, ROYALTY shortfall and other payment amounts plus interest per Section 4.18 from the date that such payments should have been made to JHU) within thirty (30) days of receiving notice from JHU of the inspection results. JHU may exercise this inspection right not more than annually, unless prior inspections show consistent underpayment of 10% or more (in which case JHU may conduct follow up inspections at its discretion).
Accounting and Audit Rights. Guidance Note for clause 6.1: The nature of the records required to be kept will depend in part on how the Fees are set. If the Fees are based on volume or revenue, it will be necessary for the Licensee to keep and provide 'open books' so that the Licensor can see that the Fees and invoices have been generated appropriately. This will also need to be implemented with any Affiliates of the Licensee and sublicensees. The Licensee will need to manage its own arrangements to ensure it has access to this information.
Accounting and Audit Rights. The Reseller shall keep and maintain --------------------------- full and accurate books of account and records covering all Software Copies duplicated by Reseller pursuant to Section 2 above. LA or its designees shall be entitled, at its expense, to audit and inspect such books and records on a quarterly basis during or after the License Term during reasonable business hours and in each case upon five business (5) days prior written notice to the Reseller, and make copies and summaries of such books and records. All such books of account and records shall be retained by the Reseller for a minimum of seven (7) years after expiration or termination of this Agreement. If LA or its duly authorized representative discovers a deficiency in the payments to LA pursuant to any statement in the period under audit (an "Audit Deficiency"), the Reseller shall promptly pay such Audit Deficiency to LA and, if such Audit Deficiency is three percent (3%) or more of the payments made to LA pursuant to any statement in such audit period, the Reseller shall promptly pay all costs and expenses incurred by LA in connection with such audit. If such Audit Deficiency is twenty percent (20%) or more of the amounts paid to LA pursuant to any statement in the period under audit, then in addition to the above, LA may, at its sole option, immediately terminate the Agreement upon written notice to the Reseller, even if the Reseller tenders the Audit Deficiency and associated costs and expenses to LA.
Accounting and Audit Rights. (a) The School must keep proper, accurate and complete books and records relating to:
(i) the Transaction Fees payable to Parashift under this Agreement; and
(ii) Transactions entered into with End Users.
(b) The School's books and records kept under clause 6(a) must contain such information as is necessary to enable the amounts due and payable to Parashift to be readily identified and audited, together with the School’s compliance with this agreement.
(c) At Parashift's written request, the School will, within 14 days, make available to Parashift (or its nominee) during normal business hours the books and records referred to in clause 6(a) and will permit those books and records to be examined by Parashift (or its nominee).
(d) To the extent that the audit discloses a discrepancy in the amount of Transaction Fees paid or payable to Parashift, the parties agree to remedy that discrepancy within 30 days of the discrepancy being identified.
Accounting and Audit Rights. 1Record keeping
Accounting and Audit Rights. Without limiting the obligations of BLE in the Master Agreement (including, without limitation, Section 10(q) thereof), during the Concessionary Period, (a) BLE shall provide to Cargill copies of all financial statements, financial forecasts, financial models, business plans, material correspondence, and operations reports (“Information”) furnished by BLE or its representatives to its other lenders and trade creditors, (b) BLE shall furnish the Information to Cargill at the same time such Information is furnished to BLE’s other lenders and trade creditors, (c) BLE shall from time to time provide Cargill with such financial information and copies of relevant forbearance and stand-still agreements as Cargill may request and (d) Cargill and its accounting firm shall have the right, from time to time and at Cargill’s expense, to audit BLE’s books, records, and financial statements.
Accounting and Audit Rights. Licensee shall at all times keep an accurate account of all operations and transactions within the scope of this Agreement. Within thirty (30) days after the end of each quarter, Licensee shall give to LS&CO.: a statement presenting (i) a listing of each retailer to which Licensee sold Products in such period and the sales to each such retailer in such period expressed in both units of each Product sold and aggregate Net Sales for each Product sold and (ii) aggregate gross sales, aggregate trade discounts, aggregate merchandise returns and aggregate Net Sales of all sales of Products by product category. These statements shall be in sufficient detail to be audited from the books of the Licensee and shall be certified by the chief financial officer of Licensee. No later than forty five (45) days after the end of Licensee's fiscal year, Licensee shall give to LS&CO.:
(i) a statement, certified by the chief financial officer of Licensee, showing aggregate gross sales, aggregate trade discounts, aggregate merchandise returns and aggregate Net Sales of Products made by Licensee; and (ii) copies of Licensee's audited balance sheet, income statement, statement of cash flows and statement of stockholders' equity, and the notes to those statements, as of the year-end and for the twelve-month period then ended. During the term of this Agreement and for a period of five (5) years after its termination or expiration, LS&CO. or its agents, at LS&CO.'s sole expense, may inspect and audit all the books of account of Licensee relating to performance by Licensee of its obligations under this Agreement, including, without limitation, those relating to computation of Net Sales.
Accounting and Audit Rights. (a) KW shall render to Lender periodic statements pursuant to this Agreement prepared in accordance with KW's customary format showing in reasonable detail Gross Receipts, Production Costs, Distribution Fees and Distribution Expenses permitted by this Agreement. Statements shall be rendered quarterly through the conclusion of the broadcast season following the final broadcast season during which KW distributes the Series on a first-run syndication strip basis and thereafter on a semi-annual basis, provided that no statement need be rendered by KW for any period in which no receipts are received or charges incurred by KW. Each statement shall be rendered within forty-five (45) days after the close of the period for which the statement is rendered. Statements rendered may be amended from time to time to give effect to items overlooked, to correct errors and for similar purposes. Any United States dollars due and payable pursuant to any statement shall be paid simultaneously with the rendering of such statement.
(b) KW shall keep full and complete records of all transactions had by it in connection with the production, distribution and exploitation of the Series, including without limitation any subdistributor accountings (hereinafter referred to as "records"). Lender may, at its own expense, audit KW's applicable records to verify statements rendered hereunder. Any such audit shall be conducted only at the offices of KW during normal business hours by a firm of certified public accountants. Lender shall not have the right to examine any matters or items after the expiration of [* Deleted pursuant to a request for confidential treatment] three (3) years from and after the date of the rendition of the statement in which such matters or items are first accounted for, it being understood that statements not questioned by Lender by notice in writing within said three (3) year period shall be final and conclusive upon Lender, and shall constitute a final and conclusive account stated even though the material therein may later be contained or referred to in a subsequent statement. Lender shall be forever barred from maintaining or instituting any action or proceeding based upon or concerning any transactions had by KW, its divisions, subsidiary corporations or other affiliates in connection with the production, distribution and/or exploitation of the Series and the accounting embraced in any statement delivered hereunder or the accuracy of any item appearing therei...
Accounting and Audit Rights. 14.1 The Parties agree that they will cause the JV to establish and maintain such books of account in addition to those required by the Local Laws, or as may be reasonably specified and requested at any time and from time to time by AdForce (in order for AdForce to comply, to the extent necessary, with U.S. laws or generally accepted accounting practices).
14.2 The JV shall submit periodic accounting reports to AdForce and SINA on such accounting and reporting forms as may be reasonably requested by AdForce and as provided by AdForce from time to time.
14.3 The JV shall appoint Ernst & Young LLP as the auditors of the JV, which auditors shall examine and audit the financial accounts of the JV and report the results to the Board. The annual audit shall be at the expense of the JV and in accordance with the Local Laws.
14.4 AdForce and SINA shall have the right, at any time, to have special audits made of the books of accounts, records and affairs of the JV, but any special audit shall be at the expense of the Party requesting the audit, unless material discrepancies in any of the JV's accounts, records or affairs are discovered as a result of such audit, in which event the entire costs of the audit shall be paid for by the JV.
