Common use of ACCOUNTING AND AUDIT Clause in Contracts

ACCOUNTING AND AUDIT. (a) Project Co shall maintain and keep accurate Project records (which means all tangible records, documents, computer printouts, electronic information, books, plans, drawings, specifications, accounts or other information) relating to the Work for a period of 7 years from the date of Substantial Completion of the Work. Project Co shall maintain the original Project records in its office in Building 0, 0000-00 Xxxxxx, Xxxxxxxx, Xxxxxxx, X0X 0X0 until all claims have been settled as required by Applicable Law. (b) In addition to other rights of inspection contemplated in the Contract Documents, Project Co shall allow Owner, the Consultant, Xxxxxx‟s Consultant or other persons authorized by Owner access to the Project records as they pertain to Work performed on a reimbursable basis pursuant to Section 2.3.2 of Schedule 11 – Change Procedure, or unit price basis, pursuant to Section 2.3.3 of Schedule 11 – Change Procedure, during the course of the Work and for such period of time that Project Co is required to maintain the records set out in Section 18.1(a). Project Co shall be provided with 48 hours prior notice for such access. Project Co shall promptly provide, at the sole cost of Owner, a certified copy of any part of such Project records required by Owner when requested by Owner. (c) Subject to Section 18.1(d), Project Co shall ensure that equivalent provisions to those provided in Section 18.1(a) and 18.1(b) are made in the Construction Contract (and shall require the Contractor to incorporate same into every level of contract thereunder with a Project Co Party) for any part of the Work in order, among other things, to provide Owner with access to Project records as contemplated herein. (d) The provisions of Section 18.1(b) shall only apply with respect to Change Orders and items under cash allowances.

ACCOUNTING AND AUDIT. (a) Project Co shall maintain and keep accurate Project records (which means all tangible records, documents, computer printouts, electronic information, books, plans, drawings, specifications, accounts or other information) relating to the Work for a period of 7 years from the date of Substantial Completion of the Work. Project Co shall maintain the original Project records in its office in Building 0, 0000-00 Xxxxxx, Xxxxxxxx000 Xxxxxxxx Xxxx, Xxxxxxx, Xxxxxxx X0X 0X0 until all claims have been settled as required by Applicable Law. (b) In addition to other rights of inspection contemplated in the Contract Documents, Project Co shall allow Owner, the Consultant, Xxxxxx‟s Lender’s Consultant or other persons authorized by Owner access to the Project records as they pertain to Work performed on a reimbursable basis pursuant to Section 2.3.2 of Schedule 11 – Change Procedure, or unit price basis, pursuant to Section 2.3.3 of Schedule 11 – Change Procedure, during the course of the Work and for such period of time that Project Co is required to maintain the records set out in Section 18.1(a). Project Co shall be provided with 48 hours prior notice for such access. Project Co shall promptly provide, at the sole cost of Owner, a certified copy of any part of such Project records required by Owner when requested by Owner. (c) Subject to Section 18.1(d), Project Co shall ensure that equivalent provisions to those provided in Section 18.1(a) and 18.1(b) are made in the Construction Contract (and shall require the Contractor to incorporate same into every level of contract thereunder with a Project Co Party) for any part of the Work in order, among other things, to provide Owner with access to Project records as contemplated herein. (d) The provisions of Section 18.1(b) shall only apply with respect to Change Orders and items under cash allowances.

ACCOUNTING AND AUDIT. (a) Project Co shall maintain and keep accurate Project records (which means all tangible records, documents, computer printouts, electronic information, books, plans, drawings, specifications, accounts or other information) relating to the Work for a period of 7 years from the date of Substantial Completion of the Work. Project Co shall maintain the original Project records in its office in Building 0000 Xxxxxxxx Xxxx, 0000-00 Xxxxxx, XxxxxxxxXxxxxxx, Xxxxxxx, X0X 0X0 until all claims have been settled as required by Applicable Law. (b) In addition to other rights of inspection contemplated in the Contract Documents, Project Co shall allow Owner, the Consultant, Xxxxxx‟s Xxxxxx’s Consultant or other persons authorized by Owner access to the Project records as they pertain to Work performed on a reimbursable basis pursuant to Section 2.3.2 of Schedule 11 – Change Procedure, or unit price basis, pursuant to Section 2.3.3 of Schedule 11 – Change Procedure, during the course of the Work and for such period of time that Project Co is required to maintain the records set out in Section 18.1(a). Project Co shall be provided with 48 hours prior notice for such access. Project Co shall promptly provide, at the sole cost of Owner, a certified copy of any part of such Project records required by Owner when requested by Owner. (c) Subject to Section 18.1(d), Project Co shall ensure that equivalent provisions to those provided in Section 18.1(a) and 18.1(b) are made in the Construction Contract (and shall require the Contractor to incorporate same into every level of contract thereunder with a Project Co Party) for any part of the Work in order, among other things, to provide Owner with access to Project records as contemplated herein. (d) The provisions of Section 18.1(b) shall only apply with respect to Change Orders and items under cash allowances. (e) Project Co shall submit 7 copies of a monthly construction status report to Owner by the 20th Business Day of each month which shall include an update of the Construction Schedule prepared in accordance with the requirements of Section 12. 1. Project Co shall use the project management software system directed by Owner if Owner elects, in its Sole Discretion, to utilize such software. The construction status report will appropriately address significant aspects of, and variances in, the progress of the Work, and shall include (i) an executive bar chart summary of the Construction Schedule; (ii) the current schedule performance index (developed in accordance with Good Industry Practice); (iii) Project Co’s narrative report addressing any significant problems, decisions and pending claims; (iv) a detailed report showing the costs to complete the balance of the Work; (v) an executive summary of the progress to date of the building systems; (vi) a financial status report together with a report of any pending or other matters or claims that could have a financial impact on the Project, including a report on any labour disruptions or strikes that may have occurred or are pending; (vii) an updated cash flow report and projections in conjunction with the monthly Construction Schedule update showing a cash flow graph indicating actual cash flow against projected cash flow; (viii) progress photos from different views to indicate the progress of the Work in digital format, indicating the date and location of the photograph;

ACCOUNTING AND AUDIT. (a) Project Co shall maintain and keep accurate Project records for each Facility (which means all tangible records, documents, computer printouts, electronic information, books, plans, drawings, specifications, accounts or other information) relating to the Work for a period of 7 years from the date of Substantial Final Completion of the WorkDate. Project Co shall maintain the original Project Projects records in its office in Building 0Concord, 0000-00 Xxxxxx, Xxxxxxxx, Xxxxxxx, X0X 0X0 Ontario until all claims have been settled as required by Applicable Law. (b) In addition to other rights of inspection contemplated in the Contract Documents, Project Co shall allow OwnerHMQ, the Consultant, Xxxxxx‟s Xxxxxx’s Consultant or other persons authorized by Owner HMQ access to the Project Projects records as they pertain to Work performed on a reimbursable basis pursuant to Section 2.3.2 of Schedule 11 – Change Procedure, or unit price basis, pursuant to Section 2.3.3 of Schedule 11 – Change Procedure, during the course of the Work and for such period of time that Project Co is required to maintain the records set out in Section 18.1(a). Project Co shall be provided with 48 hours prior notice for such access. Project Co shall promptly provide, at the sole cost of OwnerHMQ, a certified copy of any part of such Project Projects records required by Owner HMQ when requested by OwnerHMQ. (c) Subject to Section 18.1(d), Project Co shall ensure that equivalent provisions to those provided in Section 18.1(a) and 18.1(b) are made in the Construction Contract (and shall require the Contractor to incorporate same into every level of contract thereunder with a Project Co Party) for any part of the Work in order, among other things, to provide Owner HMQ with access to Project Projects records as contemplated herein. (d) The provisions of Section 18.1(b) shall only apply with respect to Change Orders and items under cash allowances.

ACCOUNTING AND AUDIT. (a) Project Co shall maintain and keep accurate Project records for the Facility (which means all tangible records, documents, computer printouts, electronic information, books, plans, drawings, specifications, accounts or other information) relating to the Work for a period of 7 years from the date of Substantial Final Completion of the WorkDate. Project Co shall maintain the original Project records in its office in Building 0, 0000-00 Xxxxxx, Xxxxxxxxat 000 Xxxxxxxx Xxxx, Xxxxxxx, Xxxxxxx X0X 0X0 until all claims have been settled as required by Applicable Law. (b) In addition to other rights of inspection contemplated in the Contract Documents, Project Co shall allow OwnerCMH, the Consultant, Xxxxxx‟s Lender’s Consultant or other persons authorized by Owner CMH access to the Project records as they pertain to Work performed on a reimbursable basis pursuant to Section 2.3.2 of Schedule 11 – Change Procedure, or unit price basis, pursuant to Section 2.3.3 of Schedule 11 – Change Procedure, during the course of the Work and for such period of time that Project Co is required to maintain the records set out in Section 18.1(a). Project Co shall be provided with 48 hours prior notice for such access. Project Co shall promptly provide, at the sole cost of OwnerCMH, a certified copy of any part of such the Project records required by Owner CMH when requested by OwnerCMH. (c) Subject to Section 18.1(d), Project Co shall ensure that equivalent provisions to those provided in Section 18.1(a) and 18.1(b) are made in the Construction Contract (and shall require the Contractor to incorporate same into every level of contract thereunder with a Project Co Party) for any part of the Work in order, among other things, to provide Owner CMH with access to Project records as contemplated herein. (d) The provisions of Section 18.1(b) shall only apply with respect to Change Orders and items under cash allowances.

ACCOUNTING AND AUDIT. (a) Project Co shall maintain and keep accurate Project records (which means all tangible records, documents, computer printouts, electronic information, books, plans, drawings, specifications, accounts or other information) relating to the Work for a period of 7 years from the date of Substantial Completion of the Work. Project Co shall maintain the original Project records in its office in Building 000 Xxxxxxx Xxxxx, 0000-00 XxxxxxSuite 800, XxxxxxxxToronto, Xxxxxxx, X0X 0X0 Ontario M9W 7K6 until all claims have been settled as required by Applicable Law. (b) In addition to other rights of inspection contemplated in the Contract Documents, Project Co shall allow Owner, the Consultant, Xxxxxx‟s Senior Lender’s Consultant or other persons authorized by Owner access to the Project records as they pertain to Work performed on a reimbursable basis pursuant to Section 2.3.2 of Schedule 11 – Change Procedure, or unit price basis, pursuant to Section 2.3.3 of Schedule 11 – Change Procedure, during the course of the Work and for such period of time that Project Co is required to maintain the records set out in Section 18.1(a). Project Co shall be provided with 48 hours prior notice for such access. Project Co shall promptly provide, at the sole cost of Owner, a certified copy of any part of such Project records required by Owner when requested by Owner. (c) Subject to Section 18.1(d), Project Co shall ensure that equivalent provisions to those provided in Section 18.1(a) and 18.1(b) are made in the Construction Contract (and shall require the Contractor to incorporate same into every level of contract thereunder with a Project Co Party) for any part of the Work in order, among other things, to provide Owner with access to Project records as contemplated herein. (d) The provisions of Section 18.1(b) shall only apply with respect to Change Orders and items under cash allowances.