Accounting Information. Generally Accepted Accounting Principles (“GAAP”) and SEC rules can require Buyer to evaluate various aspects of its economic relationship with Seller, e.g., whether or not Buyer must consolidate Seller’s financial information. To evaluate if certain GAAP requirements are applicable, Buyer may need access to Seller’s financial records and personnel in a timely manner. In the event that Buyer determines that consolidation or other incorporation of Seller’s financial information is necessary under GAAP, Buyer shall require the following for each calendar quarter during the term of this Agreement, within 90 days after quarter end: (a) complete financial statements, including notes, for such quarter on a GAAP basis; and, (b) financial schedules underlying the financial statements. Seller shall grant Buyer access to records and personnel to enable Xxxxx’s independent auditor to conduct financial audits (in accordance with GAAP standards) and internal control audits (in accordance with Section 404 of the Xxxxxxxx-Xxxxx Act of 2002). Any information provided to Buyer pursuant to this section shall be considered confidential in accordance with the terms of this Agreement and shall only be disclosed, as required by GAAP, on an aggregate basis with other similar entities for which Buyer has power purchase agreements.
Appears in 8 contracts
Samples: Green Source Advantage Service Agreement, Renewable Power Purchase Agreement, Renewable Power Purchase Agreement
