Common use of Expenditure Records Clause in Contracts

Expenditure Records. Inspection i) Maintain records showing expenditure incurred, utilisation of the disbursements out of the Loan the operations and financial condition of the Borrower and such records shall be open to examination by the Lender, and their authorised representatives. ii) Allow the authorised representatives or nominees of the Lender including any auditor or technically qualified person to inspect the assets purchased out of the Loan and will give all facilities to enable such persons to report thereon. iii) The cost of inspection, including travelling and all other expenses, shall be payable by the Borrower to the Lender in this behalf.