Common use of Audit of Study Costs Clause in Contracts

Audit of Study Costs. (a) When required under clause 11.3(d), Aurizon Network must appoint an independent firm of accountants nominated by it (Auditor) to carry out an audit in order to verify: (i) the amount of the Study Costs Incurred by Aurizon Network; (ii) whether the amount of Study Costs Incurred by Aurizon Network is reasonable; (iii) whether the Project Management Fee, as calculated in accordance with this Agreement, is reasonable; (iv) the Drawdown Amounts specified in Drawdown Notices; and/or (v) the Provisional Project Management Fee, the Project Management Fee and the Adjustment Amount (if any) specified in a notice given under clause 13.1, (Audit). (b) Aurizon Network must: (i) give the Auditor reasonable access during normal business hours to the books, accounts and records of Aurizon Network relevant to an Audit; and (ii) otherwise provide reasonable assistance and co-operation to the Auditor in relation to the conduct of the Audit. (c) Aurizon Network must provide a copy of the Auditor’s report of the results of an Audit conducted in accordance with clause 11.3(a) to the Study Funder (excluding any confidential information of Aurizon Network or any Other Study Funders which will be redacted from the Auditor’s report). (d) Aurizon Network will cause an Audit to be conducted in accordance with (i) within 20 Business Days after the date that Aurizon Network determines, acting reasonably, that no further Study Costs will be Incurred; (ii) if this Agreement and each Other Funding Agreement is terminated, within 40 Business Days after the date of termination of this Agreement and each Other Funding Agreement; (iii) within 20 Business Days of reasonable request from the Study Funder Committee, provided that the Study Funder Committee does not make such a request more than once every 3 Months; and (iv) if an Audit has not otherwise been conducted in accordance with this clause 11.3, then at least once in every twelve month period during the term of this Agreement.

Audit of Study Costs. (a) When required under clause 11.3(d10.3(d), Aurizon Network must appoint an independent firm of accountants nominated by it (Auditor) to carry out an audit in order to verify: (i) the amount of the Study Costs Incurred by Aurizon Network; (ii) whether the amount of Study Costs Incurred by Aurizon Network is reasonable; (iii) whether the Project Management Fee, as calculated in accordance with this Agreement, is reasonable; (iv) the Drawdown Amounts specified in Drawdown Notices; and/or (viii) the Provisional Project Management Fee, the Project Management Fee and the Adjustment Amount (if any) specified in a notice given under clause 13.112.1, (Audit). (b) Aurizon Network must: (i) give the Auditor reasonable access during normal business hours to the books, accounts and records of Aurizon Network relevant to an Audit; and (ii) otherwise provide reasonable assistance and co-operation to the Auditor in relation to the conduct of the Audit. (c) Aurizon Network must provide a copy of the Auditor’s report of the results of an Audit conducted in accordance with clause 11.3(a10.3(a) to the Study Funder Customer (excluding any confidential information of Aurizon Network or any Other Study Funders Customers which will be redacted from the Auditor’s report). (d) Aurizon Network will cause an Audit to be conducted in accordance with (i) within 20 Business Days after the date that Aurizon Network determines, acting reasonably, that no further Study Costs will be Incurred; (ii) if this Agreement and each Other Funding Agreement is terminated, within 40 Business Days after the date of termination of this Agreement and each Other Funding Agreement; (iii) within 20 Business Days of reasonable request from the Study Funder Committee, provided that the Study Funder Committee does not make such a request more than once every 3 Months; and (iviii) if an Audit has not otherwise been conducted in accordance with this clause 11.310.3, then at least once in every twelve month period during the term of this Agreement.