Common use of Audit Provisions Clause in Contracts

Audit Provisions. Lessee agrees to keep complete and accurate books and records of all receipts of fees and charges and all income and expenses of all items of merchandise and professional services covered by this Agreement. The City or its authorized representative shall have the right to periodically audit the books and records of the Lessee to verify that fees have been correctly computed and paid and reports of income and expenditure correctly made. The Lessee agrees to reimburse the City for the reasonable costs of any such audit should it disclose that the Lessee has paid 98% or less of the payments due to the City for any year or if the audit discloses that reports of income and expenditures are substantially inaccurate or misleading according to generally accepted accounting standards, procedures, and principles. If the Lessee disputes the audit findings of the City, the Lessee may request a review of part or all of the audit by a third party mutually agreeable to the City and the Lessee. If such review determines the audit of the City to be substantially in error, the City shall pay the cost of such review, otherwise the Lessee shall pay for the cost of such review. In the event that payments are found to be incorrect or reports inaccurate, the Lessee shall provide appropriate true-up payments within 15 days or corrected reports within 30 days of the deficiency.

Audit Provisions. Lessee Xxxxxx agrees to keep complete and accurate books and records of all receipts of fees and charges and all income and expenses of all items of merchandise and professional services covered by this AgreementContract. The City or its authorized representative shall have the right to periodically audit the books and records of the Lessee to verify that fees have been correctly computed and paid and reports of income and expenditure correctly made. The Lessee agrees to reimburse the City for the reasonable costs of If any such audit should it disclose that the Lessee has paid 98% or less of the payments than what is due to the City for any year or if the audit discloses that reports of income and expenditures are substantially inaccurate or misleading according to generally accepted accounting standards, procedures, procedures and principles, then the Lessee agrees to reimburse the City for any reasonable costs. If the Lessee disputes the audit findings of the City, the Lessee may request a review of part or all of the audit by a third party mutually agreeable to the City and the Lessee. If such review determines the audit of the City to be substantially in error, the City shall pay the cost of such review, otherwise the Lessee shall pay for the cost of such review. In the event that payments are found to be incorrect or reports inaccurate, the Lessee shall provide appropriate true-up payments within 15 fifteen (15) days or corrected reports within 30 thirty (30) days of the deficiency.

Audit Provisions. Lessee agrees to keep complete and accurate books and records of all receipts of fees and charges and all income and expenses of all items of merchandise and professional services covered by this Agreement. The City or its authorized representative shall have the right to periodically audit the books and records of the Lessee to verify that fees have been correctly computed and paid and reports of income and expenditure correctly made. The Lessee agrees to reimburse the City for the reasonable costs of If any such audit should it disclose that the Lessee has paid 98% or less of the payments due to the City for any year or if the audit discloses that reports of income and expenditures are substantially inaccurate or misleading according to generally accepted accounting standards, procedures, and principlesprinciples the Lessee agrees to reimburse the City for any reasonable costs. If the Lessee disputes the audit findings of the City, the Lessee may request a review of part or all of the audit by a third party mutually agreeable to the City and the Lessee. If such review determines the audit of the City to be substantially in error, the City shall pay the cost of such review, otherwise the Lessee shall pay for the cost of such review. In the event that payments are found to be incorrect or reports inaccurate, the Lessee shall provide appropriate true-up payments within 15 days or corrected reports within 30 days of the deficiency.

Audit Provisions. Lessee Xxxxxx agrees to keep complete and accurate books and records of all receipts of fees and charges and all income and expenses of all items of merchandise and professional services covered by this Agreement. The City or its authorized representative shall have the right to periodically audit the books and records of the Lessee to verify that fees have been correctly computed and paid and reports of income and expenditure correctly made. The Lessee agrees to reimburse the City for the reasonable costs of any such audit should it disclose that the Lessee has paid 98% or less of the payments due to the City for any year or if the audit discloses that reports of income and expenditures are substantially inaccurate or misleading according to generally accepted accounting standards, procedures, and principles. If the Lessee disputes the audit findings of the City, the Lessee may request a review of part or all of the audit by a third party mutually agreeable to the City and the Lessee. If such review determines the audit of the City to be substantially in error, the City shall pay the cost of such review, otherwise the Lessee shall pay for the cost of such review. In the event that payments are found to be incorrect or reports inaccurate, the Lessee shall provide appropriate true-up payments within 15 days or corrected reports within 30 days of the deficiency.