Common use of ACCOUNTS AND AUDIT Clause in Contracts

ACCOUNTS AND AUDIT. 21.1 The Concessionaire shall maintain full accounts of all Fees including Realisable Fees and other revenues derived/collected by it from and on account of use of the Project and of O&M Expenses and other costs paid out of the Project Escrow Account and shall provide to the Authority copies of the said accounts duly audited and certified by the Concessionaire’s Statutory Auditors within 120 (one hundred twenty) days of the close of each Accounting Year to which they pertain, during the subsistence of this Agreement. Such audited accounts shall form the basis of various payments by either Party under this Agreement. The Concessionaire shall also furnish, within one week of its publication, certified copies of the audited accounts and annual report published by the Company under the Applicable Laws.

ACCOUNTS AND AUDIT. 21.1 The Concessionaire shall maintain full accounts of all Fees including Realisable Fees and other revenues derived/collected by it from and on account of use of the Project and of O&M Expenses and other costs paid out of the Project Escrow Account and shall provide to the Authority copies of the said accounts duly audited and certified by the Concessionaire’s Concessionaire‟s Statutory Auditors within 120 (one hundred twenty) days of the close of each Accounting Year to which they pertain, during the subsistence of this Agreement. Such audited accounts shall form the basis of various payments by either Party under this Agreement. The Concessionaire shall also furnish, within one week of its publication, certified copies of the audited accounts and annual report published by the Company under the Applicable Laws.