Common use of Audits Regarding Vendor Contracts Clause in Contracts

Audits Regarding Vendor Contracts. From the period beginning as of the Separation Date and ending on December 31, 2001 (or such later date as Millipore and Mykrolis may mutually agree), Millipore and Mykrolis and their duly authorized representatives shall have the right to conduct joint audits with respect to any vendor contracts that relate to both the Millipore Health and Welfare Plans and the Mykrolis Health and Welfare Plans. The scope of such audits shall encompass the review of all correspondence, account records, claim forms, cancelled drafts (unless retained by the bank), provider bills, medical records submitted with claims, billing corrections, vendor's internal corrections of previous errors and any other documents or instruments relating to the services performed by the vendor under the applicable vendor contracts. Millipore and Mykrolis shall agree on the performance standards, audit methodology, auditing policy and quality measures, reporting requirements, and the manner in which costs and expenses incurred in connection with such audits shall be shared.

Audits Regarding Vendor Contracts. From the period beginning as of the Separation Date and ending on December 31, 2001 (or such later date as Millipore and Mykrolis MMI may mutually agree), Millipore and Mykrolis MMI and their duly authorized representatives shall have the right to conduct joint audits with respect to any vendor contracts that relate to both the Millipore Health and Welfare Plans and the Mykrolis MMI Health and Welfare Plans. The scope of such audits shall encompass the review of all correspondence, account records, claim forms, cancelled drafts (unless retained by the bank), provider bills, medical records submitted with claims, billing corrections, vendor's internal corrections of previous errors and any other documents or instruments relating to the services performed by the vendor under the applicable vendor contracts. Millipore and Mykrolis MMI shall agree on the performance standards, audit methodology, auditing policy and quality measures, reporting requirements, and the manner in which costs and expenses incurred in connection with such audits shall be shared.