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:
Accounting and Audit Rights. 6.1Record 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 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 45 days after the end of Licensee's fiscal year, Licenses shall give to LS&CO.: (i) a statement, certified by the chief financial officer of License a, 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 statement as of the year end and for the twelve-month period then ended. During the term of this Agreement and for a period of three (3) 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.
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).
