Common use of Expenditure Statement and Audit Clause in Contracts

Expenditure Statement and Audit. An itemized statement of Expenditures incurred in any period certified to be correct by an officer of the Optionee shall be conclusive evidence of the making of such Expenditures unless within 30 days of receipt of such statement the Optionor delivers a notice to the Optionee detailing its objections to the statement. If the Optionor delivers an objection within such 30 day period, then the Optionor shall be entitled to request that the auditors of the Optionee audit the Expenditures provided for in the statement of Expenditures that is the subject of the objection notice, and

Expenditure Statement and Audit. An itemized statement of Expenditures incurred in any period certified to be correct by an officer of the Optionee shall be conclusive evidence of the making of such Expenditures (each, an “Expenditure Certificate”) unless within 30 60 days of receipt of such statement the Optionor delivers a notice written objection to the Optionee detailing its objections statement to the statementOptionee. If the Optionor delivers an a written objection within such 30 60 day period, then the Optionor shall be entitled to request that an independent auditor appointed by the auditors of the Optionee Optionor audit the Expenditures provided for in the statement of Expenditures that is the subject of the objection noticewritten objection, and:

Expenditure Statement and Audit. An itemized statement of Expenditures Expenditures, inclusive of copies of all receipts and invoices, incurred in any period certified to be correct by an officer of the Optionee shall be conclusive evidence of the making of such Expenditures unless within 30 days of receipt of such statement the Optionor delivers a notice to the Optionee detailing its objections to the statement. If the Optionor delivers an objection within such 30 day period, then the Optionor shall be entitled to request that the auditors of the Optionee audit the Expenditures provided for in the statement of Expenditures that is the subject of the objection notice, and: