Government Contract Audits Sample Clauses
The Government Contract Audits clause establishes the government's right to examine and audit a contractor's records related to a government contract. This typically applies to contracts involving cost reimbursement, time-and-materials, or other agreements where the government needs to verify costs and compliance. In practice, contractors must maintain detailed records and make them available for inspection by government auditors during and sometimes after the contract period. The core function of this clause is to ensure transparency and accountability in the use of public funds, helping to prevent fraud, waste, and abuse in government contracting.
Government Contract Audits. Promptly after any Borrower’s receipt thereof, notice of any final decision of a contracting officer disallowing costs aggregating more than $250,000, which disallowed costs arise out of any audit of Government Contracts of any Borrower;
Government Contract Audits. Provide written notice to Lender that Borrower has received the results of any and all audits by the Defense Contract Audit Agency, or any other government agency, conducted before the award of a contract, before the final payment on a contract, or at any other time, said notice to be delivered to Lender within thirty (30) days of Borrower's receipt of such audit results. Upon request by Lender, Borrower shall deliver all written results of such audits to Lender with ten (10) days of a request by Lender.
Government Contract Audits. Promptly after any Borrower’s receipt thereof, notice of any final decision of a contracting officer disallowing costs aggregating more than $100,000, which disallowed costs arise out of any audit of Government Contracts of any Borrower;
Government Contract Audits. Promptly after any Credit Party’s receipt thereof, notice of any final decision of a contracting officer disallowing costs aggregating more than $100,000, which disallowed costs arise out of any audit of Government Contracts of any Credit Party.
Government Contract Audits. For any Government Audit Period in respect of any Assumed Contract covering in whole or in part any period prior to the Closing Date, the Vendor shall be entitled to receive any amount receivable as a result of a favourable rate adjustment following a Government Contract Audit of such Assumed Contract (provided that if the applicable Government Audit Period includes a period on or following the Closing Date the Vendor shall be entitled to receive only a pro rated portion of such receivable based on the number of days in the Government Audit Period occurring prior to the Closing Date compared to the total number of days in the applicable Government Audit Period and the Purchaser shall be entitled to the remainder). The Vendor shall be responsible for and shall reimburse the Purchaser for any amount paid by the Purchaser as a result of an unfavourable rate adjustment in respect of a Government Contract Audit of any Assumed Contract covering in whole or in part any period prior to the Closing Date following a Government Contract Audit of such Assumed Contract (or the pro rated portion thereof, if the applicable Government Audit Period includes a period on or following the Closing Date). The Purchaser shall be responsible for and shall reimburse the Vendor for any amount paid by the Vendor as a result of an unfavourable rate adjustment in respect of a Government Contract Audit of any Assumed Contract covering in whole or in part any period on or following the Closing Date following a Government Contract Audit of such Assumed Contract (or the pro rated portion thereof, if the applicable Government Audit Period includes a period prior to the Closing Date).
Government Contract Audits. As soon as available but in no event -------------------------- more than ten (10) days after the Borrower's receipt, the results of all audits by the Defense Contract Audit Agency, or any other government agency, conducted before the award of a contract, before the final payment on a contract, or at any other time.
Government Contract Audits. Furnish Purchaser, promptly after any Credit Party’s receipt thereof, with (i) notice of any final decision of a contracting officer disallowing costs aggregating more than $250,000, which disallowed costs arise out of any audit of Government Contacts of any Credit Party, and (ii) copies of any material reports from auditors of Government Contracts.
Government Contract Audits. Purchaser shall give notice to Per-Se of any notice Purchaser or the Company receives of any scheduled audits requested by the Defense Contract Audit Agency related to services provided prior to Closing under existing Government Contracts. Per-Se shall have the right to observe the audit process and review the results. Purchaser agrees to cause the Company to act reasonably and in good faith to mitigate the adverse consequences to any Party resulting from such an audit.
Government Contract Audits. Borrower shall notify the Lender of any incurred cost audits or systems audits conducted by the Defense Contract Audit Agency conducted before the award of a contract, before the final payment on a contract, or at any other time. The notice shall be given not later than ten (10) days after the Borrower has executed a certification of agreed rates. At Lender's request, Borrower shall promptly provide the Lender with a copy of the results of any such audit, to the extent made known to the Borrower.