Books, Records and Audits. A. Contractor shall keep full and detailed books, construction logs, records, daily reports, schedules, accounts, payroll records, receipts, statements, electronic files, correspondence and other pertinent documents as may be necessary for proper management under this Agreement, as required under Applicable Law or this Agreement, and in any way relating to this Agreement (“Books and Records”). Contractor shall maintain all such Books and Records in accordance with GAAP and shall retain all such Books and Records for a minimum period of three (3) years after Final Completion, or such greater period of time as may be required under Applicable Law.
B. Upon reasonable notice, Owner shall have the right to have audited Contractor’s Books and Records by Owner’s third party auditors but only to the extent necessary to validate payments made to Contractor or invoiced by Contractor for any Change Orders based on a time and materials basis, for any costs paid with respect to any Provisional Sums and as permitted under Section 4.5; except that these rights shall not extend to lump sums, or the composition of fixed unit rates or percentages. When requested by Owner, Contractor shall provide Owner’s third party auditors with reasonable access to all such relevant Books and Records, and Contractor’s personnel shall cooperate with such third party auditors to effectuate the audit or audits hereunder. Owner shall have the right upon consent of Contractor (such consent not to be unreasonably withheld or delayed) to have the third party auditors copy all such Books and Records. Contractor shall bear all costs incurred by it in assisting with audits performed pursuant to this Section 3.13 except that copying of Contractor’s Books and Records shall be at Owner’s expense. Contractor shall include audit provisions identical to this Section 3.13 in all Major Subcontracts. No access to Books and Records shall be granted to any of Owner’s third party auditors until such third party auditor has signed a confidentiality agreement with Contractor in accordance with the standard practice in the auditing industry for audits of this kind. The restrictions in this Section 3.13B to the audit rights of Owner shall not be used by Contractor to avoid any obligations Contractor might have to produce documents under Applicable Law or in any litigation or arbitration against Contractor or against Guarantor under the Parent Guarantee.
C. Contractor shall not, and shall provide that its Subcontra...
Books, Records and Audits. A. Except as provided below, Tenant must prepare and maintain at its office in Chicago full, complete and proper books, records and accounts in accordance with generally accepted accounting procedures relating to and setting forth the Gross Revenues, both for cash and on credit, and must require and cause its operations personnel to prepare and keep books, source documents, records and accounts sufficient to substantiate those kept by Tenant. The books and source documents to be kept by Tenant must include true copies of all federal, state and local tax returns and reports, records of inventories and receipts of merchandise, daily receipts from all sales and other pertinent original sales records and records of any other transactions conducted in or from the Leased Space by Tenant and any other persons conducting business in or from the Leased Space. Pertinent original sales records must include:
(i) cash register tapes, including tapes from temporary registers,
(ii) serially pre-numbered sales slips,
(iii) the original records of all mail and telephone orders at and to the Leased Space,
(iv) original records indicating that merchandise returned by customers was purchased at the Leased Space by the customers,
(v) memorandum receipts or other records of merchandise taken out on approval,
(vi) detailed original records of any exclusions or deductions from Gross Revenues,
(vii) sales tax records, and
(viii) such other sales records, if any, that would normally be examined by an independent accountant under accepted auditing standards in performing an audit of Tenant's Gross Revenues.
B. Tenant must record at the time of each sale or other transaction, in the presence of the customer, all receipts from the sale or other transaction, whether for cash, credit or otherwise, in a cash register or cash registers having a cumulative total that must be sealed in a manner approved by the Commissioner and that must possess such other features as required by the Commissioner. The books, records and accounts, including any sales tax reports that Tenant may be required to furnish to any government or governmental agency, must at all reasonable times be open to the inspection (including the making of copies or extracts) of the Commissioner, the Commissioner's auditor or other authorized representative or agent at the Leased Space or Tenant’s other offices in Chicago for a period of at least 3 years after the expiration of each calendar year falling wholly or in part within...
Books, Records and Audits. The Company shall keep, and shall require that its sublicensees keep, regular and current books and records sufficient to accurately record and reflect the sales of products derived from or incorporating the Technology and Improvements and all license income received by the Company each month. Fraunhofer shall have the right to audit these books and records once each calendar year. Such an audit shall be conducted at Fraunhofer's expense, unless the audit reveals that (1) the Company's or Company's licensees' reports have understated Royalty Fees by 5% or more, or (2) that the Company or its licensees have sold products derived from or incorporating the Technology or Improvements outside the Field, in which case the cost of the audit will be borne by the Company. All audits will be conducted by an independent accountant not affiliated with or otherwise employed by either party.
Books, Records and Audits. (A) Except as provided below, Licensee must prepare and maintain at its office in Chicago full, complete and proper books, records and accounts in accordance with generally accepted accounting procedures relating to and setting forth the Gross Revenues, both for cash and on credit, and must require and cause its operations personnel to prepare and keep books, source documents, records and accounts sufficient to substantiate those kept by Licensee. The books and source documents to be kept by Licensee must include true copies of all federal, state and local tax returns and reports, records of inventories and receipts of merchandise, daily receipts from all sales and other pertinent original sales records and records of any other transactions by Licensee relating to the WCAS. Information must include: detailed original records of any exclusions or deductions from Gross Revenues, sales tax records, and such other sales records, if any, that would normally be examined by an independent accountant under accepted auditing standards in performing an audit of Licensee’s Gross Revenues.
(B) The books, records and accounts, including any sales tax reports that Licensee may be required to furnish to any government or governmental agency, must at all reasonable times be open to the inspection (including the making of copies or extracts) of the Commissioner, the Commissioner’s auditor or other authorized representative or agent for a period of at least 3 years after the expiration of each calendar year falling wholly or in part within the Term.
Books, Records and Audits. 9.1 Maintaining Books and Records (i) United shall maintain books and records of all payments, price adjustments, credits, debits, weights and supporting documentation establishing the bases for the price and all similar data related to the performance under this Agreement, in order that all provisions of this Agreement can be adequately administered and United’s performance under this Agreement can be adequately verified. In so doing, United shall use accounting methods and practices in accordance with generally accepted accounting principles, consistently applied. Such books and records are to be retained for a minimum of five (5) Years from the last day on which this Agreement is in effect, unless there is an ongoing Tampa Electric audit or dispute involving such books and records at the end of the five (5) Years, in which case such books and records shall be retained until such audit is completed or dispute is resolved. In addition, United shall itemize for Tampa Electric all data pertaining to price adjustments requested under Section 7.4 of this Agreement and United shall make its books and records available to Tampa Electric at any reasonable time so that Tampa Electric can document any change, revision or adjustment to the various prices specified herein. United shall submit additional information which Tampa Electric may request which is reasonably available from United’s records and pertinent to the adjustment to be made.
Books, Records and Audits. A. Except as provided below, Airport Network must prepare and maintain at its office full, complete and proper books, records and accounts in accordance with generally accepted accounting procedures relating to and setting forth the Gross Revenues, including but not limited to Gross Revenues generated by sales of Advertising Time and cause its operations personnel to prepare and keep books, source documents, records and accounts sufficient to substantiate those kept by Airport Network. The books and source documents to be kept by Airport Network must include true copies of all federal, state and local tax returns filed with respect to Airport Network’s License operation and reports, records of inventories and receipts from all sales and other pertinent original sales records and records of any other transactions conducted in or from the Service by Airport Network and any other persons conducting business in or from the Service. Pertinent original sales records must include such sales records, if any, that would normally be examined by an independent accountant under accepted auditing standards in performing an audit of Airport Network's Gross Revenues.
B. The acceptance by the Commissioner of payments of any Percentage Fee is without prejudice to the Commissioner's right to conduct an examination of the Airport Network's books and records relating to Gross Revenues and of inventories of sales, in order to verify the amount of Gross Revenues made in and from the Service.
C. After providing Airport Network at least 3 days prior oral or written notice, the Commissioner may inspect the books and records of Airport Network. Further, at its option, the Commissioner may at any reasonable time, upon no less than 10 days prior written notice to Airport Network cause a complete audit to be made of Airport Network's entire records relating to the License for the period covered by any statement issued by Airport Network as above set forth. If the audit discloses that Airport Network's statement of Gross Revenues is understated to the extent of:
(i) 3% or more, Airport Network must promptly pay the City the cost of the audit in addition to the deficiency (and any interest on the deficiency at the Default Rate), which deficiency is payable in any event; and if (ii) 5% or more, an Event of Default is considered to have occurred, and in addition to all other remedies available under this Agreement, at law, or in equity, the Commissioner has the right to terminate this Agr...
Books, Records and Audits. Licensee shall keep correct, clear and complete records and books of accounting with respect to royalties due under this Agreement. Upon reasonable prior written notice from DTC, Licensee shall permit an independent certified public accountant, to have access to such records as may be reasonably necessary to determine the correctness of Licensee's royalty payments and reports hereunder. Such inspection may take place only during Licensee's normal business hours no more than twice in any twelve (12) month period. Such independent certified public accountant shall be bound to hold all information in confidence except as necessary to disclose to DTC any underpayment or overpayment of royalties under this ---------------------------- * Material omitted pursuant to a confidential treatment request. The omitted material has been filed separately with the Securities and Exchange Commission.
Books, Records and Audits. The Tenant shall maintain books and records according to generally accepted accounting principles, consistently applied, with respect to all business transacted in, on, or from the Premises, which shall contain sufficient information to permit a calculation of the Percentage Rent provided for in this Lease. Landlord may examine all books and records of Tenant that in any way pertain to business transacted in, on, or from the Premises, regardless of the location of such books and records. Such examination shall be made at reasonable times and places. Tenant shall promptly provide Landlord with a copy of all audits prepared by Tenant or its independent certified public accountant with respect to the Premises. The Landlord may also audit the Tenant’s records but only for the purpose of ascertaining the amount of Percentage Rent due under the terms hereof. If the Landlord wishes to audit the Tenant’s records, it shall notify the Tenant in writing of its election so to do. Any audit or examination by Landlord shall be at Landlord’s expense, unless the audit discloses a discrepancy of more than one percent (1%) in the net profits realized from operations or activities unrelated to gaming, or a discrepancy of more than one percent (1%) in the amount of GGR as calculated for the purpose of reporting to the Mississippi Gaming Commission. In the event of any such discrepancy of more than one percent (1%), each such audit or examination shall be at Tenant’s expense. Landlord shall keep in confidence all information furnished to it and any information which it might gain or gather from the examination or audit of the Tenant’s books.
Books, Records and Audits. The books and records of the Joint Venture shall be maintained and kept by Green Star in accordance with generally accepted accounting principles. Green Star shall, upon request, provide to Progressive copies of the books and records as well as copies of all invoices, relating to the operations of the Joint Venture. Progressive shall have the right to review the books and records maintained during business hours and on no less than two (2) business days advance written notice.
Books, Records and Audits. Contractor shall keep such full and detailed books and records as is customary or necessary for proper financial management under this Agreement and as required under applicable law.
