Books and Records; Accounting and Audits. Each Party shall maintain complete and accurate books and records, in accordance with GAAP, which are relevant to, as applicable, costs or expenses to be reimbursed by TESARO, or payments to made to AnaptysBio, under this Agreement, which books and records shall be sufficient in detail to verify all payment amounts due to a Party hereunder. The Party requesting an audit (the “Auditing Party”) shall have the right, at its own expense and not more than once in any calendar year during the term of this Agreement, to have an independent, certified public accountant, selected by the Auditing Party, and under an obligation of confidence, audit the books and records of the other Party (the “Audited Party”) in the location(s) where such books and records are maintained upon reasonable notice (which shall be no less than fifteen (15) business days prior written notice) and during regular business hours, and for the sole purpose of verifying the basis and accuracy of payments required and made under this Agreement. The report and communication of such accountant with respect to such an audit shall be limited to a certificate stating whether any, as applicable, report made or reimbursement or other payment submitted during such period is accurate or inaccurate and, if a discrepancy is identified, shall also indicate the amount and if applicable, with respect to any report, the nature, of any discrepancy, and the correct information (with respect to the applicable period). Such accountant shall provide AnaptysBio and TESARO with a copy of each such report simultaneously. Should the audit lead to the discovery of a discrepancy: (i) to the Auditing Party’s detriment, the Audited Party shall pay to the Auditing Party the amount of the discrepancy within thirty (30) days of the Audited Party’s receipt of the report; or (ii) to the Audited Party’s detriment, the Audited Party may, as applicable, credit the amount of the discrepancy against future payments payable to the Auditing Party under this Agreement, and if there are no such payments payable, then the Auditing Party shall pay to the Audited Party the amount of the discrepancy within thirty (30) days of the Auditing Party’s receipt of the report. Additionally, in the event that the discrepancy is to the Auditing Party’s detriment and is greater than five percent (5%) of the amount due for such audited period, then the Audited Party shall pay or reimburse the reasonable cost charged by such accountant for such audit. O...
Books and Records; Accounting and Audits. Genethon shall maintain complete and accurate books and records with respect to all costs or expenses to be reimbursed by Audentes under this Agreement during the term of the Agreement, which books and records shall be sufficient in detail to verify all reimbursed amounts hereunder and shall be maintained for a period of [*] following the year to which they pertain. Audentes shall have the right, at its own expense and not more than once in any calendar year during, the Term of this Agreement, to have an independent, certified public accountant under an obligation of confidence, audit the books and records of Genethon at the location(s) where such books and records are maintained upon reasonable notice (which shall be no less than [*] prior written notice) and during regular business hours, and for the sole purpose of verifying the basis and accuracy of the payments required and made under this Agreement and amounts to be reimbursed, as applicable. The report and communication of such accountant with respect to such an audit shall be limited to a certificate stating whether any, as applicable, report made or reimbursement or other payment submitted during such period is accurate or inaccurate and, if a discrepancy is identified, shall also indicate the amount and if applicable, with respect to any report, the nature, of any discrepancy, and the correct information (with respect to the applicable period). Such accountant shall provide Audentes with a copy of each such report simultaneously. In the event that the audit reveals an overpayment by Audentes, Genethon shall promptly reimburse such difference to Audentes. In addition, if such overpayment is greater than [*] of the amount due for such audited period, then Genethon shall promptly pay or reimburse the reasonable cost charged by such accountant for such audit.
Books and Records; Accounting and Audits. Juno shall maintain, and cause its Affiliates and sublicensees to maintain, complete and accurate books and records, in accordance with U.S. GAAP, which are relevant to and sufficient in detail to verify, as applicable, the calculation of Net Sales and royalty and other payments owing hereunder. Fate shall maintain complete and accurate books and records, in accordance with U.S. GAAP, which are relevant to, as applicable, all costs or expenses of Fate incurred in performance of the Research Program, which books and records shall * Confidential Information, indicated by [***], has been omitted from this filing and filed separately with the Securities and Exchange Commission. be sufficient in detail to verify such costs and expenses. A Party (the “Auditing Party”) shall have the right, at its own expense and not more than once in any calendar year during the term of this Agreement, to have an independent, certified public accountant, selected by the Auditing Party, and under an obligation of confidence, audit such books and records as described above of the other Party (the “Audited Party”) in the location(s) where such books and records are maintained upon reasonable notice (which shall be no less than [***] business days prior written notice) and during regular business hours, and for the sole purpose of verifying the basis and accuracy of the payments required and made under this Agreement (if Juno is the Audited Party) or the costs and expenses incurred in performance of the Research Program (if Fate is the Audited Party), as applicable. The report and communication of such accountant with respect to such an audit shall be limited to a certificate stating whether any, as applicable, report made or payment submitted during such period is accurate or inaccurate and, if a discrepancy is identified, shall also indicate the amount and if applicable, with respect to any report, the nature, of any discrepancy, and the correct information (with respect to the applicable period). Such accountant shall provide Fate and Juno with a copy of each such report simultaneously. Should the audit lead to the discovery of a discrepancy in any payment due by the Audited Party to the Auditing Party as provided in this Agreement: (i) to the Auditing Party’s detriment, the Audited Party shall pay to the Auditing Party the amount of the discrepancy within [***] days of the Audited Party’s receipt of the report; or (ii) to the Audited Party’s detriment, the Audited Party may, as ...
Books and Records; Accounting and Audits. Genethon shall maintain complete and accurate books and records with respect to all costs or expenses to be reimbursed by Audentes under this Agreement during the term of the Agreement, which books and records shall be sufficient in detail to verify all reimbursed amounts hereunder and shall be maintained for a period of [*] following the year to which they pertain. Audentes shall have the right, at its own expense and not more than once in any calendar year during, the Term of this Agreement, to have an independent, certified public accountant under an obligation of confidence, audit the books and records of Genethon at the location(s) where such books and records are maintained upon reasonable notice (which shall be no less than [*] prior written notice) and during regular business hours, and for the sole purpose of verifying the basis and accuracy of the payments
