Accounts and Audits Sample Clauses

Accounts and Audits. The Company shall be responsible for maintaining at an address within Namibia accounting records of all expenditure and receipts of its Petroleum Operations under the Agreement in accordance with the accounting procedure set out in Annexure 4 to this Agreement.

Accounts and Audits. 23.1 Contractor shall maintain at Operator's registered office in Pakistan accounts, books, reports, and records of all its activities for and in connection with Petroleum Operations so as to present a clear and accurate record of actual Expenditure and receipts in accordance with this Agreement. Such accounts (the "Accounts") will also include all revenues obtained from and Expenditure incurred for Petroleum Operations, of all Production obtained from the Contract Area and of all property acquired and sold in accordance with good international Petroleum Industry practices and the Accounting Procedure. The Accounts shall be audited for the period from the Effective Date to the end of the corresponding Calendar Year, and thereafter annually each Calendar Year through an internationally recognised firm of qualified independent chartered accountants as will be selected in accordance with Article 23.5. Copies of the audit reports shall be delivered to the President and GHPL within six (6) Months of the end of each Calendar Year to which the Accounts pertain. If neither the President nor the Auditor General of Pakistan on his behalf, or GHPL takes written exception to any such audited Accounts within six (6) Months after the receipt of copies of the report relating thereto, the same shall be final and binding on Contractor, GHPL and the President, provided however, that the Accounts and support vouchers and documents, together with such reasonable facilities as may be required for the audit under this Article XXIII, shall be made available to the Auditor General of Pakistan (with notification to DGPC that this has been done) who may request such further information to Contractor in writing as he deems fit within two (2) Years from the date of receipt of the said report. Contractor shall provide the Auditor General of Pakistan with the related explanations within three (3) months of receipt of the Auditor General's request. Notwithstanding the above provision regarding finality after six (6) Months, the President, GHPL and Contractor shall, where necessary, take appropriate action with regard to any matter arising out of the Auditor General's request 23.2 GHPL shall have the right, at the expense of Contractor which will be recoverable as Cost Recovery Oil or Cost Recovery Gas, to audit the Accounts and related records for any Calendar Year or portion thereof up to five (5) Years from the date of submission of relevant audit report submitted under Article 23.1 t...

Accounts and Audits. The Corporation shall keep proper books of records and accounts (separate from all other records and accounts), which may be kept on behalf of the Corporation by the Trustee, in which complete and correct entries shall be made of its transactions relating to each Series of Bonds, which books and accounts, at reasonable hours and subject to the reasonable rules and regulations of the Corporation, shall be subject to the inspection of the City, the Trustee, each Provider or of any Holder of a Bond or a representative of any of the foregoing duly authorized in writing. The Corporation shall cause such books and accounts to be audited annually after the end of its fiscal year by an independent certified public accounting firm selected by the Corporation. Annually within thirty (30) days after receipt by the Corporation of the report of such audit, a signed copy of such report shall be furnished to the Trustee, to each Provider and to the City. A copy of the most recently audited financial statements of the Corporation, together with a copy of the accountant's report thereon, shall, upon receipt of a written request therefor, and payment of any reasonable fee or charge made in connection therewith, be furnished to the registered owner of a Bond or any beneficial owner of a Book Entry Bond requesting the same.

Accounts and Audits. The Authority shall cause the Trustee to keep proper books of records and accounts (separate from all other records and accounts) in which complete and correct entries shall be made of its transactions relating to the Bonds.

Accounts and Audits. (a) The Recipient shall maintain or cause to be maintained a financial management system, including records and accounts, adequate to reflect the transactions related to the Activities, in accordance with the requirements of the document ST/SGB/2003/7 Financial Regulations and Rules of the United Nations, dated May 9, 2003 (hereinafter referred to as the Financial Regulations). (b) The Recipient shall maintain in a separate account in its records (the Grant Control Account) a complete, true and faithful record of all the advances from the proceeds of the Grant and of all the expenditures paid from such advances. (c) The Recipient shall prepare, on a quarterly basis, interim unaudited financial reports, in accordance with accounting standards established pursuant to the Financial Regulations and in the format agreed with the Bank, adequate to reflect the operations, resources and expenditures related to the Activities. The first said interim unaudited financial reports shall be furnished to the Bank no later than thirty days after the end of the first quarter after the effectiveness of this Letter Agreement, and shall cover the period from the incurrence of the first expenditure under the Grant through the end of such first quarter; thereafter, each interim unaudited financial report shall be furnished to the Bank not later than thirty days after each subsequent quarter, and shall cover such quarter. (d) The Recipient shall ensure that the audit of the Activities is governed by: (i) Regulations 7.1, 7.4 and 7.11 of the Financial Regulations and (ii) the Financial Management Framework Agreement. (e) The Recipient shall retain, until at least one year after the Bank has received the final interim unaudited financial report referred to in paragraph (b) of this Section 5 covering the quarter in which the last withdrawal from the Grant Account was made, all records (contracts, orders, invoices, bills, receipts and other documents) evidencing all expenditures in respect of which withdrawals from the Grant Account were made.

Accounts and Audits. Once at least in every year the account of the Company shall be examined and the correctness of the profit and loss account and balance sheet ascertained by one or more duly qualified auditors.

Accounts and Audits. (a) BVI Co shall prepare its accounts in accordance with Canadian GAAP. (b) BVI Co shall engage an international firm of auditors to audit its accounts and annual financial statements and to prepare an audit report.

Accounts and Audits a. Prior to the Project Completion and for three (3) years after the expiration of this Agreement, as described in Article 3 (Duration of the Agreement), the Ultimate Recipient shall, at its own expense. i. keep proper and accurate books, accounts, and records of its revenue received and expenses Incurred and Paid in connection with the Project and shall keep its invoices, receipts, and vouchers relating thereto; ii. keep proper and accurate records of all data, analyses, and other scientific or technical assessments and reports, and any and all information relating to the outputs and outcomes of the Project ; iii. on demand, make available to the Minister such books, accounts, records, invoices, receipts, and vouchers referred to above and permit the Minister to examine and audit and take copies and extracts from such documents; iv. allow the Minister, at the Minister’s own expense and discretion, to conduct a technical audit to verify that the proposed measures outlined in Schedule B (Description of the Project ) were implemented in accordance with this Agreement; and v. allow the Minister, at the Minister’s own expense and discretion, to conduct an audit to verify the accuracy of reports submitted under the Reports Article.

Accounts and Audits. The Trustee shall keep proper books of record and account (separate from all other records and accounts) in which complete and correct entries shall be made of its transactions relating to the Project Facility or any part thereof, and which, together with all other books and papers of the Trustee in connection with the Project Facility, shall at all reasonable times be subject to the inspection of the Company, the Bank and the Issuer, or the holder or holders of not less than five percent (5%) in aggregate principal amount of the Bonds then Outstanding or their representatives duly authorized in writing.

Accounts and Audits. 21.2.1 Audited account ................................................................................................................................... 21.2.2 Appointment of auditors...................................................................................................................... 21.2.3 Certification of claims by Statutory Auditors ....................................................................................... 21.2.4 Set-off ................................................................................................................................................... 21.2.5 Dispute resolution ................................................................................................................................ 21.3 Compensation for breach of agreement.............................................................................. 21.3.1 Compensation for default by the Concessionaire ................................................................................ 21.3.2 Compensation for default by the Concessioning Authority .......................................................... 21.3.3 Extension of Concession Period .................................................................................................... 21.3.4 Compensation to be in addition.................................................................................................... 21.3.5 Mitigation of costs and damage .................................................................................................... 21.4 Survival of Obligation .................................................................................................... 21.5 Articles to survive Termination .....................................................................................