Common use of AUDIT AND ACCESS TO RECORDS Clause in Contracts

AUDIT AND ACCESS TO RECORDS. (a) The Loan Guarantee Agreement and related documents shall provide that: (1) The Eligible Lender, or DOE in conjunction with the Federal Financ- ing Bank where loans are funded by the Federal Financing Bank or other Hold- er or other party servicing the Xxxxxx- xxxx Obligations, as applicable, and the Borrower, shall keep such records con- cerning the project as is necessary, in- cluding the Pre-Application, Applica- tion, Term Sheet, Conditional Commit- ment, Loan Guarantee Agreement, Credit Agreement, mortgage, note, dis- bursement requests and supporting documentation, financial statements, audit reports of independent account- ing firms, lists of all project assets and non-project assets pledged as security for the Guaranteed Obligations, all off- take and other revenue producing agreements, documentation for all project indebtedness, income tax re- turns, technology agreements, docu- mentation for all permits and regu- latory approvals and all other docu- ments and records relating to the Xxx- xxxxx Project, as determined by the Secretary, to facilitate an effective audit and performance evaluation of the project; and (2) The Secretary and the Comp- troller General, or their duly author- ized representatives, shall have access, for the purpose of audit and examina- tion, to any pertinent books, docu- ments, papers and records of the Bor- rower, Eligible Lender or DOE or other Holder or other party servicing the Guaranteed Obligation, as applicable. Such inspection may be made during regular office hours of the Borrower, Eligible Lender or DOE or other Hold- er, or other party servicing the Eligible Project and the Guaranteed Obliga- tions, as applicable, or at any other time mutually convenient. (b) The Secretary may from time to time audit any or all items of costs in- cluded as Project Costs in statements or certificates submitted to the Sec- retary or the servicer or otherwise, and may exclude or reduce the amount of any item which the Secretary deter- mines to be unnecessary or excessive, or otherwise not to be an item of Project Costs. The Borrower will make available to the Secretary all books and records and other data available to the Borrower in order to permit the Secretary to carry out such audits. The Borrower will represent that it has within its rights access to all financial and operational records and data relat- ing to Project Costs, and agrees that it will, upon request by the Secretary, ex- ercise such rights in order to make such financial and operational records and data available to the Secretary. In exercising its rights hereunder, the Secretary may utilize employees of other Federal agencies, independent accountants, or other persons.

AUDIT AND ACCESS TO RECORDS. (a) The Each Loan Guarantee Agreement and related re- lated documents shall provide that: (1a) The Eligible Lender, or DOE in conjunction conjunc- tion with the Federal Financ- ing Financing Bank where loans are funded by the Federal Financing Bank or other Hold- er Holder or other party servicing serv- icing the Xxxxxx- xxxx Guaranteed Obligations, as applicableapplica- ble, and the Borrower, shall keep such records con- cerning concerning the project Eligible Project as is are necessary, in- cluding including the Pre-Application, Applica- tion, Term Sheet, Conditional Commit- mentCommitment, Loan Guarantee Agreement, Credit Agreement, mortgage, note, dis- bursement disbursement requests and supporting documentation, financial statementsstate- ments, audit reports of independent account- ing firms, lists of all project Eligible Project assets and non-project Eligible Project assets pledged as security for in re- spect of the Guaranteed Obligations, all off- take and other revenue producing agree- ments, documentation for all Eligible Project indebtedness, income tax returns, technology agreements, documentation for all project indebtedness, income tax re- turns, technology agreements, docu- mentation for all permits and regu- latory regulatory approvals and all other docu- ments documents and records relating to the Xxx- xxxxx Borrower or the Eligible Project, as determined deter- mined by the Secretary, to facilitate an effective ef- fective audit and performance evaluation of the projectEligible Project; and (2b) The Secretary and the Comp- troller Comptroller General, or their duly author- ized representativesauthorized representa- tives, shall have access, for the purpose of audit and examina- tionexamination, to any pertinent books, docu- mentsdocuments, papers and records of the Bor- rowerBorrower, Eligible Lender or DOE or other Holder or other party servicing the Guaranteed Xxxxxx- xxxx Obligation, as applicable. Such inspection inspec- tion may be made during regular office hours of the Borrower, Eligible Lender or DOE or other Hold- erHolder, or other party servicing the Eligible El- igible Project and the Guaranteed Obliga- tions, as applicable, or at any other time mutually convenient. (b) The Secretary may from time to time audit any or all items of costs in- cluded as Project Costs in statements or certificates submitted to the Sec- retary or the servicer or otherwise, and may exclude or reduce the amount of any item which the Secretary deter- mines to be unnecessary or excessive, or otherwise not to be an item of Project Costs. The Borrower will make available to the Secretary all books and records and other data available to the Borrower in order to permit the Secretary to carry out such audits. The Borrower will represent that it has within its rights access to all financial and operational records and data relat- ing to Project Costs, and agrees that it will, upon request by the Secretary, ex- ercise such rights in order to make such financial and operational records and data available to the Secretary. In exercising its rights hereunder, the Secretary may utilize employees of other Federal agencies, independent accountants, or other persons.