FINANCIAL RECORDS AND AUDIT. Seller shall retain all financial records and documents pertaining to the Goods for a period of no less than three years after final payment. Such records and documents shall date back to the time this Contract was issued and shall include without limitation, catalogs, price lists, invoices, underlying data and basis for cost estimates, and inventory records. Buyer shall have the right to examine, reproduce and audit all Seller records related to pricing, incurred costs and proposed costs associated with any proposals (prior to or after contract award), invoices or claims.
FINANCIAL RECORDS AND AUDIT a. Seller shall maintain complete and accurate books, records and documents pertaining to the time worked, costs, expenses and allowances incurred in the performance of this Contract in sufficient detail to properly reflect all net costs (direct and indirect) of labor, materials, equipment supplies, services and other costs and expenses for which reimbursement or compensation is claimed. The labor hours shall be supported by a timekeeping system acceptable to Buyer and shall include evidence of actual payment. Buyer shall have the right to assign representatives to Seller’s plant for the purpose of verifying the number and type of direct hours being incurred and making such audit and check of Seller’s activities as may be reasonably required. Material charges shall be supported by paid invoices or storeroom requisitions. When Buyer-furnished property is used, a copy of Xxxxx’s shipper will be kept in Seller’s files for auditing purposes. Such records shall be made available to Buyer, upon request, for examination, reproduction and audit from the date of this Contract until three years after final payment hereunder. As a result of any audit performed by Buyer, payments previously made to Seller shall be subject to adjustment for over payment or under payment, respectively. Seller shall submit its final invoice promptly after completion of work. Upon approval of Xxxxxx’s final invoice and substantiating documentation and upon compliance by Seller with all terms of this Contract, Buyer shall promptly pay any balance due to Seller.
FINANCIAL RECORDS AND AUDIT. UT shall (and shall require that its Affiliates and Product Sublicensees will) maintain complete and accurate records in sufficient detail to permit Arena to confirm the accuracy of any Royalty Payments due pursuant to Section 2.5(a) (including any adjustments) and to verify the achievement of the Milestones in Section 2.3 above. Upon at least [***] ([***]) days’ prior notice, such records shall be open for examination, during regular business hours and at the relevant entity’s principal place of business, for a period of five (5) Fiscal Years from the end of the Fiscal Year to which such records pertain, and not more often than once each Fiscal Year, by an independent certified public accountant (other than the Auditor) selected by Arena and reasonably acceptable to UT, for the sole purpose of verifying for Arena the accuracy of the financial reports furnished by UT under this Agreement or of any such Royalty Payment or Milestone Payment made, or required to be made, by UT to Arena pursuant to this Agreement. The independent certified public accountant shall disclose to Arena only whether the audited reports are correct or incorrect and the specific details sufficient to enable determination of the actual Royalty Payment or Milestone Payment payable in accordance with this Agreement and any discrepancies between such amounts and the amounts of Royalty Payments or Milestone Payments made. No other information shall be provided to Arena. No record may be audited more than once. Arena shall bear the full cost of such audit unless such audit reveals an underpayment by UT of more than [***] ([***]) of the amount actually due for any Fiscal Year being audited, in which case UT shall reimburse Arena for the reasonable costs for such audit. UT shall pay to Arena any underpayment discovered by such audit within thirty (30) days after the accountant’s report, plus interest from the original due date, unless disputed by UT in good faith, in which case Section 2.5(g) will apply. If the audit reveals an overpayment by UT, then UT may take a credit for such overpayment against any future payments due to Arena.
FINANCIAL RECORDS AND AUDIT. Each Party shall maintain complete and accurate records in sufficient detail to permit the other Party to confirm the accuracy of the amount of Development and Manufacture costs to be reimbursed, royalty payments and other amounts payable under this Agreement. Upon reasonable prior notice, such records shall be open during regular business hours for a period of [ * ] from the creation of individual records for examination by an independent certified public accountant selected by the auditing Party and reasonably acceptable to the audited Party for the sole purpose of verifying for the auditing Party the accuracy of the financial reports furnished by the audited Party pursuant to this Agreement or of any payments made, or required to be made, by or to the audited Party pursuant to this Agreement. Such audits may occur no more often than [ * ]. Such auditor shall not disclose the audited Party’s Confidential Information to the auditing Party, except to the extent such disclosure is necessary to verify the accuracy of the financial reports furnished by the audited Party or the amount of payments to or by the audited Party under this Agreement. Any amounts shown to be owed but unpaid, or overpaid and in need of refund, shall be paid or refunded (as the [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. case may be) within [ * ] after the accountant’s report, plus interest (as set forth in Section 5.4) from the original due date (unless challenged in good faith by the audited Party). The auditing Party shall bear the full cost of such audit unless such audit reveals an overpayment to, or an underpayment by, the audited Party that resulted from a discrepancy in the financial report provided by the audited Party for the audited period, which underpayment or overpayment is more than [ * ] of the amount set forth in such report, in which case the audited Party shall reimburse the auditing Party for the costs for such audit.
FINANCIAL RECORDS AND AUDIT. (i) Each Related Client will maintain customary and reasonably correct, complete and accurate books and records of account as required by the United States government, the State of California (and any other funding authority such as philanthropic organizations). Each Related Client will deliver all supporting documentation in accordance with the monthly close timeline developed by ExED and provided to Related Client.
FINANCIAL RECORDS AND AUDIT. Roivant shall maintain complete and accurate records in sufficient detail to permit Eisai to confirm the accuracy of royalty payments under this Agreement. Upon reasonable prior notice, such records shall be open for examination during regular business hours for a period of [***] from the termination or expiry of this Agreement, at Eisai’s expense, not more often than once each calendar year, by an independent certified public accounting firm selected by Eisai, and for the sole purpose of verifying the accuracy of the royalty reports furnished by Roivant under this Agreement or any royalty payments made, or required to be made, by Roivant under this Agreement. Any such accounting firm shall not disclose Roivant’s Confidential Information to Eisai, except to the extent such disclosure is necessary to verify the accuracy of the royalty reports furnished by Roivant or the royalty payments under this Agreement. If such audit reveals any underpayment, Roivant shall [***] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. EXECUTION VERSION Confidential pay such amount within [***] after the date of the accountant’s report, plus interest (as set forth in Section 4.5) from the original due date (unless challenged in good faith by Roivant, in which case any dispute with respect thereto shall be resolved in accordance with Section 10.6). If such audit reveals any overpayment, such amount shall be creditable against future royalty payments due under this Agreement (or promptly refunded to Roivant, if there is no future royalty payment due). Eisai shall bear the full cost of such audit unless such audit reveals an underpayment by Roivant of more than [***] of the amount actually due for the audited time period, in which case Roivant shall reimburse Eisai for the costs for such audit.
FINANCIAL RECORDS AND AUDIT. 5.1 The Service Provider shall keep records, books or account and support documents in accordance with accepted accounting procedures and practices. The records shall be made available to the Commission or its authorized representative for observation or audit at mutually convenient times and up to one year after discharge or termination of this Agreement.
FINANCIAL RECORDS AND AUDIT. LCZ shall maintain accurate accounting records using generally accepted accounting practices and principles. LCZ shall establish internal financial control policies and practices which are in accordance with generally accepted standards. LCZ shall annually, on or before June 30th, file with the Finance Director and the Director of Parks and Recreation an audited financial statement of the operations of the Zoo which shall include statements of all receipts, expenditures, and cash on hand, together with a general report on the operation of the Zoo, including any needs for future capital expenditures identified by LCZ. LCZ shall be subject to audit per Chapter 4.66 of the Lincoln Municipal Code and shall make available to a contract auditor copies of all nonproprietary financial and performance related records and materials germane to this Operating Agreement, as allowed by law. The Finance Director and the Director of Parks and Recreation or their authorized representatives shall have access to all books and records of LCZ relating to the Zoo and the right to audit and inspect the same, during the term of this Operating Agreement and for a period of one (1) year thereafter.
FINANCIAL RECORDS AND AUDIT. LCZ shall maintain accurate accounting records using generally accepted accounting practices and principles. LCZ shall be subject to audit per Chapter 4.66 of the Lincoln Municipal Code and shall make available to a contract auditor copies of all nonproprietary financial and performance related records and materials germane to this Lease Agreement, as allowed by law. The Finance Director and the Director of Parks and Recreation or their authorized representatives shall have access to all books and records of LCZ relating to the Zoo, including those pertaining to the Endowment Fund, and the right to audit and inspect the same, during the term of this Lease Agreement and for a period of one (1) year thereafter.
FINANCIAL RECORDS AND AUDIT. (a) Each Party shall maintain complete and accurate records in sufficient detail to permit the other Party to confirm the accuracy of Approved Costs, Net Sales, royalty payments and other amounts payable under this Agreement and to verify the achievement of all sales milestone events under this Agreement. Upon [***] prior notice, such records shall be open during regular business hours for a period of [***] from the creation of individual records for examination at the auditing Party’s expense, and not more often than [***], by an independent certified public accountant selected by the auditing Party and reasonably acceptable to the audited Party for the sole purpose of verifying for the auditing Party the accuracy of the financial reports furnished by the audited Party pursuant to this Agreement or of any payments made, or required to be made, under this Agreement. Any such auditor shall not disclose the audited Party’s confidential information to the auditing Party, except to the extent such disclosure is necessary to verify the accuracy of the financial reports furnished by the audited Party or the amount of payments under this Agreement. Records for a particular time period may not be audited more than [***].
