Common use of Audit and Examination Clause in Contracts

Audit and Examination. (a) To the extent necessary to verify the accuracy of any statement, invoice, charge or computation made under this Agreement, each Party shall have the right, at its cost, to interview representatives of the other Party and to examine the books and records maintained by such other Party relating to this Agreement, including support for costs charged by the Party’s third party contractors, relating to the performance of the relevant Services, during normal business hours and upon reasonable notice to the other Party; provided that each Party has the right to redact from the records subject to examination of any portions thereof as necessary to comply with such Party’s confidentiality obligations. Such audit must be commenced within 12 Months of receiving said statement, invoice, charge or computation made under this Agreement and will take place at a location mutually agreeable to the Parties. All records subject to audit hereunder shall be caused to be retained for no less than two calendar years after their creation. If any such examination establishes any inaccuracy in any billing made prior to such examination, the necessary adjustments to such xxxxxxxx will be made promptly without any interest charge.