Accounting Records and Audits Sample Clauses

Accounting Records and Audits. Grantee shall comply with the following reporting requirements, which may be modified by amendment to this Agreement:
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Accounting Records and Audits. Grantee shall comply with the following reporting requirements, as amended from time to time:
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Accounting Records and Audits. 6.4.1 The Construction Manager shall keep full and detailed accounts and exercise such controls as may be necessary for proper financial management under this Contract; the accounting and control systems shall be satisfactory to the Owner. The Owner and the Owner's accountants shall be afforded access to the Construction Manager's records, books, correspondence, instructions, drawings, receipts, subcontracts, purchase orders, vouchers, memoranda, and other data relating to this Project, and the Construction Manager shall preserve these for a period of three years after final payment, or for such longer period as may be required by law. 6.4.2 As used in this clause, “records” includes books, documents, accounting procedures and practices, and other data, regardless of type and regardless of whether such items are in written form, in the form of computer data, or in any other form. In accepting any contract with the State, the Construction Manager agrees any pertinent State or Federal agency will have the right to examine and audit all records relevant to execution of the resultant contract. If an audit, litigation, or other action involving such records, are started before the end of the three-year period, the records are required to be maintained for three years from the date that all issues arising out of the action are resolved or until the end of the three-year retention period, whichever is later.
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Accounting Records and Audits. 9.1. The Recipient shall: 9.1.1. deposit and maintain the Capital Grant under a separate program code within their accounting system, separate from all other monies, unless otherwise agreed to in writing by the ASHC; 9.1.2. maintain adequate financial records relating to the Provincial Contribution and the Project. It shall keep proper books, accounts and records of the cost of the materials, services, or resources related to the Project, in accordance with GAAP, and have them available at all times during the Term of this Agreement and for 7 years after the termination or expiry of this Agreement; Initials: 9.1.3. during the Term and for 7 years after the termination or expiry of this Agreement, produce on demand to any representative of ASHC or the Auditor General of Alberta any of the financial records referred to in clause 8.1.3 and 8.1.4, and shall permit such representative to examine and audit these books, accounts, and records and take copies and extracts of them to determine if the Provincial Contribution have been properly spent and assets are adequately maintained; 9.1.4. upon request of ASHC, arrange for ASHC or its representative to have access to the Recipient’s business premises, the Project’s construction site (subject to applicable law), and to any other sites connected to the performance of this Agreement in order for ASHC to verify progress of the Project and compliance with the terms and conditions of this Agreement; and 9.1.5. subject to any applicable laws, the Recipient shall provide ASHC with access to or copies of any data or information acquired, collected, or produced under this Agreement. 9.2. The Recipient shall cooperate with ASHC in the conduct of any evaluation or audit or inspection of the Project during or after the Term of this Agreement. 9.2.1. Notwithstanding anything to the contrary contained herein, ASHC may withhold any further payments of Capital Grant that would otherwise be payable to the Recipient until such time as the issues arising from the audit are resolved to ASHC’s satisfaction, up to and including final resolution of disputes through a legal process. 9.3. Upon completion of the Project, the Parties will jointly carry out a final reconciliation of all claims and payments in respect of the Project and make any adjustments required in the circumstances. 9.4. This Section 9 shall survive the termination or expiration of this Agreement.
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Accounting Records and Audits. (a) PhotoLynx shall submit to IWS a quarterly statement in auditable form, reporting sufficient detail to substantiate all PhotoLynx consideration received by PhotoLynx for said preceding quarter and the total amount of Percentage Payments due IWS. (b) Payment of the Percentage Payments shall be made contemporaneous with the quarterly statement. (c) Photo Lynx shall keep accurate books and records showing: all PhotoLynx consideration for each and every sale of PDI and Photo Lynx products. Books and records must be preserved for and during the term of this Agreement. (d) PhotoLynx shall, upon written request, provide access to books and records for inspection by representatives or agents of IWS at reasonable times. IWS shall bear the fees and expenses of examination except as provided in Section 3.5 below. (e) In the event the audit reveals an underpayment of fees due hereunder, Photo Lynx shall immediately pay such underpayment plus ten percent (10%) interest on the underpaid amount. If the amount of the underpayment exceeds five percent (5%) of the amount due, then the underpaying PhotoLynx shall also pay IWS all reasonable costs and expenses associated with the audit. (f) In the event that the audit reveals an underpayment of less than one percent (1 %), IWS shall pay Photo Lynx all reasonable costs and expenses associated with the audit.
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Accounting Records and Audits. Concessionaire shall maintain during the term of this Agreement all books of account and records for the Airport business location customarily used in this type of business operation, in conformity with generally accepted accounting principles, and for such period of time thereafter as provided herein, unless otherwise approved by the City. The City or its authorized representative shall be permitted to audit and examine all such books of account and records at any time during normal business hours, including federal and state tax returns relating to Concessionaire's operations hereunder and including franchisee/licensee records and audits of all business transactions and records of sale at any business locations of Concessionaire within the City. Concessionaire agrees that records and instruments will be available to the City for at least two (2) years after the close of the agreement term. Concessionaire shall maintain a record of each rental agreement written at the Airport, including a copy of each original agreement signed by Concessionaire’s customer. The rental agreement shall be identified to indicate that the Airport is the originating location. Accountability for the numerical sequence of contracts issued and unissued shall be maintained. Accounting records of Concessionaire shall be stored sequentially, or in such other manner approved by the Airport, to provide reasonable and expeditious access for audit purposes hereunder.
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Accounting Records and Audits. Seller shall maintain a complete set of accounting records associated with this Agreement. Accounting records shall be in a format that conforms to generally accepted accounting principles and practices. Until the later of five (5) years [CONFIRM AUDIT PERIOD IS EQUAL TO OR LONGER THAN THE PERIOD IN THE PRIME AGREEMENT; IF THE PRIME AGREEMENT HAS A LONGER AUDIT PERIOD, THEN INSERT THAT TIME PERIOD IN LIEU OF THE FIVE (5) YEARS] after the expiration of the Warranty Period or the resolution of any dispute arising out of this Agreement, Contractor and Owner shall, at all reasonable times, be afforded the opportunity to inspect and/or audit Seller’s records.
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Accounting Records and Audits 
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Related to Accounting Records and Audits

  • Records and Audits The Contractor shall maintain accounts and records, including personnel, property, and financial records, adequate to identify and account for all costs pertaining to the Contract and such other records as may be deemed necessary by the City to assure proper accounting for all project funds. These records will be made available for audit purposes to the City or any authorized representative, and will be retained for three years after the expiration of this Contract.

  • Accounting Records and Reports The Trustee will keep or cause to be kept proper books of record and accounts in which complete and correct entries shall be made of all transactions relating to the receipts, disbursements, allocation and application of the Revenues, and such books shall be available for inspection by the Authority at reasonable hours and under reasonable conditions. The Trustee shall provide to the Authority monthly statements covering the funds and accounts held pursuant to the Trust Agreement. Not more than one hundred eighty (180) days after the close of each Fiscal Year, the Trustee shall furnish or cause to be furnished to the Authority a complete financial statement (which may be in the form of the Trustee’s customary account statements) covering receipts, disbursements, allocation and application of Revenues for such Fiscal Year. The Authority shall keep or cause to be kept such information as is required under the Tax Certificate.

  • FINANCIAL RECORDS AND AUDIT Seller shall retain all financial records and documents pertaining to the Goods for a period of no less than three years after final payment. Such records and documents shall date back to the time this Contract was issued and shall include without limitation, catalogs, price lists, invoices, underlying data and basis for cost estimates, and inventory records. Buyer shall have the right to examine, reproduce and audit all Seller records related to pricing, incurred costs and proposed costs associated with any proposals (prior to or after contract award), invoices or claims.

  • Records and Audit A. Concessionaire shall maintain complete, accurate, and detailed accounting records of all transactions pertaining to the Concession Operation covered by this Agreement that will enable Concessionaire to prepare financial statements in accordance with generally accepted accounting principles. Concessionaire shall make such records available to any authorized representative of Department upon request, as often as it is deemed necessary by Department, to determine the effectiveness of the financial management system and internal procedures that have been established by Concessionaire, and to ensure compliance with the terms and conditions of this Agreement and that the financial statements and reports present fairly the results of Concessionaire's operations pursuant to this Agreement. Failure to do so shall be a material breach of this Agreement. Said records shall be maintained and made available to Department and the State of New Jersey for a period of seven (7) years after the termination or expiration of this Agreement. B. Concessionaire shall utilize a cash register as part of the Concession Operation. Concessionaire may request Department approval to also or alternatively utilize a Point of Service (POS) device. If approved in writing by Department, Concessionaire may then utilize a POS device as part of the Concession Operation. Any use of a POS device as part of the Concession Operation without the required prior Department-written approval shall be a material breach of this Agreement, subject to Suspension of Operations and/or Termination in accordance with the Terms and Conditions set forth in Paragraphs 9 and 10. C. All sales shall be recorded by means of cash registers or Department-approved POS devices that publicly display the amount of each sale and automatically issue a customer receipt or certify the amount recorded on a sales slip. Said cash registers or Department-approved POS devices shall, in all cases, have locked-in sales totals and transactions counters that constantly accumulate and that cannot, in either case, be reset. In addition, such cash registers must have a tape located within the register upon which transaction numbers and sales details are imprinted. Beginning and ending cash register or Department-approved POS device readings shall be recorded on a daily basis. In the event of technical or electrical failure of the cash register or Department-approved POS device, Concessionaire shall record all transactions by hand and issue a sequentially pre-numbered customer receipt in like manner. Failure to have a working cash register or Department-approved POS device shall be a material breach of this Agreement subject to immediate Suspension of Operations and/or Termination in accordance with the terms and conditions set forth in Paragraphs 9 and 10. Each cash register or Department-approved POS device must have the following: ● Dual Tape/Readable tape/or Electronic Report that records individual sales, total sales, and can generate a receipt (customer must be offered a paper or electronic receipt upon request) ● Customer Display ● Continuous grand total Each cash register must have the following: • Cumulative “Z” counter • Current printed date on detail tape

  • Accounting Records Maintain adequate books and records in accordance with generally accepted accounting principles consistently applied, and permit any representative of Bank, at any reasonable time, to inspect, audit and examine such books and records, to make copies of the same, and to inspect the properties of Borrower.

  • Books and Records; Audits (i) Contractor shall maintain complete and accurate accounting records, and shall retain such records for a period of three (3) years following the date of the invoice to which they relate. (ii) Company (and its duly authorized representatives) shall be entitled to (a) audit such books and records as they relate to the Services performed hereunder, upon reasonable notice to Contractor and during normal business hours, and (b) make copies and summaries of such books and records for its use. If Company discovers an overpayment in the amounts paid by Company to Contractor for any period under audit (an “Audit Overpayment”), Contractor shall promptly pay such Audit Overpayment to Company. In the event that any such Audit Overpayment shall be in excess of five percent (5%) of the aggregate payments made by Company in respect of the applicable period under audit, Contractor shall also reimburse Company for all reasonable costs and expenses incurred by Company in connection with such audit and the collection of the Audit Overpayment. If any such Audit Overpayment shall be in excess of ten percent (10%) of the aggregate payments made by Company in respect of the applicable period under audit, Company shall have the right to re-audit, at Contractor’s expense, Contractor’s books and records for any and all past years (since the commencement of this Agreement). (iii) In the event Contractor determines that it has any inquiries, problems or believes there are errors or discrepancies with respect to any amounts due pursuant to this Agreement, Contractor agrees to give Company written notice thereof within ninety (90) days from the date that the work which gave rise to the inquiry, problem and/or discrepancy, etc. was performed. Contractor’s failure to give Company such notice shall constitute a waiver of any and all rights which Contractor may have to any adjustment, charge or reimbursement by reason thereof.

  • Books and Records; Inspection and Audit Rights Each of Holdings and the Borrower will, and will cause each Restricted Subsidiary to, maintain proper books of record and account in which entries that are full, true and correct in all material respects and are in conformity with GAAP consistently applied shall be made of all material financial transactions and matters involving the assets and business of Holdings, the Borrower or its Restricted Subsidiary, as the case may be. Each of Holdings and the Borrower will, and will cause each Restricted Subsidiary to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times and as often as reasonably requested; provided that, excluding any such visits and inspections during the continuation of an Event of Default, only the Administrative Agent on behalf of the Lenders may exercise visitation and inspection rights of the Administrative Agent and the Lenders under this Section 5.08 and the Administrative Agent shall not exercise such rights more often than two times during any calendar year absent the existence of an Event of Default and only one such time shall be at the Borrower’s expense; provided further that (a) when an Event of Default exists, the Administrative Agent or any Lender (or any of their respective representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and upon reasonable advance notice and (b) the Administrative Agent and the Lenders shall give Holdings and the Borrower the opportunity to participate in any discussions with Holdings’ or the Borrower’s independent public accountants.

  • Books and Records Accounting Tax Matters Describes general and administrative items and procedural aspects of handling certain of those items.

  • Books, Records and Tax Returns (Check One) ☐ - SINGLE-MEMBER: The Company shall maintain complete and accurate books and records of the Company's business and affairs as required by the Statutes and such books and records shall be kept at the Company's Registered Office and shall in all respects be independent of the books, records and transactions of the Member. The Company's fiscal year shall be the calendar year with an ending month of December. The Member intends that the Company, as a single member LLC, shall be taxed as a sole proprietorship in accordance with the provisions of the Internal Revenue Code. Any provisions herein that may cause may cause the Company not to be taxed as a sole proprietorship shall be inoperative.

  • Records and Audit/Inspections 6.13.1 A-E shall keep an accurate record of time expended by A-E and/or consultants employed by A-E in the performance of this CONTRACT. 6.13.2 Within ten (10) days of COUNTY's written request, A-E shall allow COUNTY or authorized State or Federal agencies or any duly authorized representative to have the right to access, examine, audit, excerpt, copy or transcribe any pertinent transaction, activity, time cards or other records relating to this CONTRACT. 6.13.3 A-E shall keep such material, including all pertinent cost accounting, financial records and proprietary data for a period of three (3) years after termination or completion of the CONTRACT or until resolution of any claim or dispute between the PARTIES, whichever is later. 6.13.4 Should A-E cease to exist as a legal entity, records pertaining to this CONTRACT shall be forwarded within a reasonable period of time not to exceed sixty (60) days to its successor in interest or surviving entity in a merger or acquisition, or, in the event of liquidation, to COUNTY.

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