Audit Frequency Clause Samples
The Audit Frequency clause defines how often audits may be conducted under an agreement. Typically, it sets a specific interval—such as annually or quarterly—during which one party can review the records or operations of the other to ensure compliance with contractual obligations. By establishing a clear schedule for audits, this clause helps prevent excessive or disruptive inspections while ensuring regular oversight and accountability.
POPULAR SAMPLE Copied 18 times
Audit Frequency. MS will not do an audit more than once a year. However, MS may audit more than once a year if an audit finished during the preceding year revealed a Material Amount or an intentional breach of this Agreement.
Audit Frequency. Notwithstanding anything stated to the contrary in Section 2.13(c) of the Credit Agreement, Borrower shall not be required to pay any fees with respect to audits or inspections conducted by or on behalf of the Lender of any Collateral or the Borrower to the extent more than three (3) such audits or inspections are conducted in any calendar year other than audits or inspections conducted during a Default Period.
Audit Frequency. The Customer shall conduct the audit at maximum once in any twelve month period, unless Applicable Data Protection Laws require more frequent audits.
Audit Frequency. ▪ Audits may be conducted no more than once per calendar year unless there are reasonable grounds to suspect a breach of the Processor’s obligations. ▪ Relevant certifications and third-party audit reports may be used to satisfy the Controller’s audit requirements, reducing the need for an on-site or extensive audit.
Audit Frequency. Non-Applicable
Audit Frequency. The frequency of audits are determined by the results of previous audits and the significance of individual system activities. The minimum requirement is that the quality system activities associated with each section of this manual be audited at least once each year. Audits will include but are not limited to: Processes, Procedures, Activities, Practices, Work Instructions, Documentation, and Knowledge of Quality Policy.
Audit Frequency. Upon [***] advance written notice by Shire and not more than once in each calendar year, Sangamo and its Affiliates shall permit an independent certified public accounting firm of internationally-recognized standing, selected by Shire and reasonably acceptable to Sangamo, at Shire’s expense, to have access during normal business hours to such of the records of Sangamo and its respective Affiliates as may be reasonably necessary to verify the accuracy of the invoices provided by Sangamo to Shire pursuant to Section 3.3(g) for any year ending not more than 18 months prior to the date of such request. No year may be audited more than once, except for cause. The accounting firm will enter a confidentiality agreement reasonably acceptable to Sangamo governing the use and disclosure of Sangamo’s information disclosed to such firm, and such firm shall disclose to Shire only whether the invoices are correct or not and the specific details concerning any discrepancies, which information shall be Confidential Information of Sangamo.
Audit Frequency. Momentus shall conduct an Audit on a calendar quarterly basis, consistent with the same processes as the initial Audit. The completion date for the initial Audit and the following quarterly Audits will be specified in the Audit Plan. The CMAs may require additional Audits to address an actual or potential violation of this NSA, in their sole discretion and following consultations with Momentus regarding the actual or potential violation and the scope of the additional audit. Upon completion of any Audit, the Transaction Parties may request in writing that the CMAs consider modifications to this NSA. The CMAs may grant or reject any such proposal in their sole discretion.
Audit Frequency. A systems audit of the SANC Facility Manual will be conducted as needed as determined by the Program Manager. Surveillance audits will be conducted each year. Systems and Surveillance internal audits will be conducted as often as considered necessary by the Program Manager.
Audit Frequency. Upon 14 days advance written request by a Party and not more than once in each calendar year, the Responsible Party, its Sublicensees and their Affiliates shall permit an independent certified public accounting firm of internationally-recognized standing, selected by the auditing Party and reasonably acceptable to the Responsible Party, at the auditing Party’s expense, to have access during normal business hours to such of the records of the Responsible Party, its Sublicensees hereunder and their respective Affiliates as may be reasonably necessary to verify the accuracy of the royalty reports hereunder for any year ending not more than 18 months prior to the date of such request. No year may be audited more than once, except for cause. The accounting firm will enter a confidentiality agreement reasonably acceptable to the Responsible Party governing the use and disclosure of the Responsible Party’s information disclosed to such firm, and such firm shall disclose to the auditing Party only whether the reports are correct or not and the specific details concerning any discrepancies, which information shall be Confidential Information of the Responsible Party.