Franchise Fees Subject to Audit. The Village and Grantee acknowledge that the audit standards are set forth in the Illinois Municipal Code at 65 ILCS 5/11-42-11.05 (Municipal Franchise Fee Review; Requests For Information). Any audit shall be conducted in accordance with generally applicable auditing standards.
Franchise Fees Subject to Audit. 7.2.1 Upon reasonable prior written notice, during Normal Business Hours at Grantee’s principal business office, the Franchising Authority shall have the right to inspect the Grantee’s financial records used to calculate the Franchising Authority’s franchise fees; provided, however, that any such inspection shall take place within two (2) years from the date the Franchising Authority receives such payment, after which period any such payment shall be considered final.
Franchise Fees Subject to Audit. 7.2.1 Upon notice pursuant to Section 13.2 herein, during Normal Business Hours at Franchisee’s principal business office, the Franchising Authority shall have the right to inspect the Franchisee’s financial records used to calculate the Franchising Authority’s franchise fees; provided, however, that any such inspection shall take place within two (2) years from the date the Franchising Authority receives such payment, after which period any such payment shall be considered final.
Franchise Fees Subject to Audit. Upon reasonable prior written notice and no more than once annually, during normal business hours at Grantee’s principal business office, the Town shall have the right to inspect the Grantee’s financial records used to calculate the Town’s franchise fees; provided, however, that any such inspection shall take place within two (2) years from the date the Franchising Authority receives such payment, after which period any such payment shall be considered final.
Franchise Fees Subject to Audit. The City and the Grantee acknowledge that the audit standards are set forth in the Illinois Municipal Code at 65 ILCS 5/11-42-11.05. Any audit shall be conducted in accordance with generally applicable auditing standards.
Franchise Fees Subject to Audit. The County and Grantee acknowledge that the audit standards are set forth in the Counties Code at 55 ILCS 5/5-1095.1. Any audit shall be conducted in accordance with generally applicable auditing standards. This Section 5.2 shall not apply to that certain franchise fee review initiated by the County in a letter dated July 29, 2010, and requests for information related thereto, which review was initiated by the County pursuant to the terms and conditions of the Prior Agreements in effect on July 29, 2010 (the “Preexisting Review”) and which is not terminated or waived by the approval and execution of this Agreement. This Agreement does not constitute a waiver, release or abrogation of any claim, right, defense, immunity or power either party may have with respect to the Preexisting Review, payment and collection of franchise fees as permitted by and provided for in such Prior Agreements.
Franchise Fees Subject to Audit. (1) Upon reasonable prior written notice during normal business hours at Grantee’s principal business office, the Village shall have the right to inspect the Grantee’s financial records used to calculate the Village’s franchise fees; provided, however, that any such inspection shall take place within two (2) years from the date the Village receives such payment, after which period any such payment shall be considered final.
Franchise Fees Subject to Audit. 7.1.2.1. Upon notice pursuant to Section 15.2 herein, during Normal Business Hours at Franchisee’s principal business office, the Franchising Authority shall have the right to inspect the Franchisee’s financial records used to calculate the Franchising Authority’s franchise fees; provided, however, that any such inspection shall take place within two (2) years from the date the Franchising Authority receives such payment, after which period any such payment shall be considered final. Upon the completion of any such audit by the Franchising Authority, the Franchising Authority shall provide to the Franchisee a final report setting forth the Franchising Authority’s findings in detail, including any and all substantiating documentation. In the event of an alleged underpayment, the Franchisee shall have thirty
Franchise Fees Subject to Audit. No acceptance of any payment shall be construed as an accord that the amount is in fact the correct amount, nor shall such acceptance of payment be construed as a release of any claim the City may have for further or additional sums payable under the provision of this Franchise.
Franchise Fees Subject to Audit. Upon reasonable prior written notice, during normal business hours, at Grantee’s principal business office, the Franchising Authority shall have the right to inspect the Grantee’s financial records used to calculate the Franchising Authority’s franchise fees; provided, however, that any such inspection shall take place within two (2) years from the date the Franchising Authority receives such payment, after which period any such payment shall be considered final. Upon the completion of any such audit by the Franchising Authority, the Franchising Authority shall provide to the Grantee a final report setting forth the Franchising Authority’s findings in detail, including any and all substantiating documentation. In the event of an alleged underpayment, the Grantee shall have thirty (30) days from the receipt of the report to provide the Franchising Authority with a written response agreeing to or refuting the results of the audit, including any substantiating documentation. Based on these reports and responses, the parties shall agree upon a “Finally Settled Amount.” For purposes of this Section, the term “Finally Settled Amount(s)” shall mean the agreed upon underpayment, if any, to the Franchising Authority by the Grantee as a result of any such audit. If the parties cannot agree on a “Final Settlement Amount,” the parties shall submit the dispute to a mutually agreed upon mediator within sixty (60) days of reaching an impasse. In the event an agreement is not reached at mediation, either party may bring an action to have the disputed amount determined by a court of law. Any “Finally Settled Amount(s)” due to the Franchising Authority as a result of such audit shall be paid to the Franchising Authority by the Grantee within thirty (30) days from the date the parties agree upon the “Finally Settled Amount.” Once the parties agree upon a Finally Settled Amount and such amount is paid by the Grantee, the Franchising Authority shall have no further rights to audit or challenge the payment for that period. The Franchising Authority shall bear the expense of its audit of the Grantee’s books and records.
