Common use of Audit Follow-Up Clause in Contracts

Audit Follow-Up. 21.2.1. Following an audit or examination, the Company may at its election conduct, or have its Auditors conduct, an exit conference with the Service Provider to obtain factual concurrence with issues identified in the audit or examination. 21.2.2. Within 10 (ten) Business Days following the provision to the Service Provider of the findings of an audit, whether by exit conference or the delivery of the audit report by the Auditors or an audit report by the Service Provider’s auditors, the Service Provider will provide the Company with a plan ("Audit Response Plan") to address shortcomings or deficiencies raised in such audit findings attributable to the Service Provider. The Audit Response Plan shall identify the steps that the Service Provider will take to remedy such shortcomings and deficiencies and include a completion date for the plan. With the Company’s approval, the Service Provider will implement such Audit Response Plan at the Service Provider’s cost and expense. The Service Provider will report monthly to the Company on the status of the implementation of any Audit Response Plan. Failure to complete the Audit Response Plan on or before the completion date included in such Plan shall be a material breach of the Agreement.

Audit Follow-Up. 21.2.1. 21.2.1 Following an audit or examination, the Company may at its election conduct, or have its Auditors conduct, an exit conference with the Service Provider to obtain factual concurrence with issues identified in the audit or examination. 21.2.2. 21.2.2 Within 10 (ten) Business Days following the provision to the Service Provider of the findings of an audit, whether by exit conference or the delivery of the audit report by the Auditors or an audit report by the Service Provider’s auditors, the Service Provider will provide the Company with a plan ("Audit Response Plan") to address shortcomings or deficiencies raised in such audit findings attributable to the Service Provider. The Audit Response Plan shall identify the steps that the Service Provider will take to remedy such shortcomings and deficiencies and include a completion date for the plan. With the Company’s approval, the Service Provider will implement such Audit Response Plan at the Service Provider’s cost and expense. The Service Provider will report monthly to the Company on the status of the implementation of any Audit Response Plan. Failure to complete the Audit Response Plan on or before the completion date included in such Plan shall be a material breach of the Agreement.