Common use of Incomplete Audits Clause in Contracts

Incomplete Audits. Furthermore, if the audit reveals that the records of the Contractor are in such a state that the revenue or the operating expenses cannot be audited, the entire expense of the Authority’s efforts to conduct the audit shall be borne by the Contractor. The Authority will invoice the Contractor for these expenses. Payment shall be made within thirty (30) days from the date of the invoice. If the Contractor fails to pay the invoice from its own funds, the Authority may, in its sole discretion, deduct the amount due from payments owed by the Authority to the Contractor. Additionally, the Authority may find that the Contractor is in default under Article 11 of the Contract.

Incomplete Audits. Furthermore, if the audit reveals that the records of the Contractor are in such a state that the revenue or the operating expenses cannot be audited, the entire expense of the Authority’s efforts to conduct the audit shall be borne by the Contractor. The Authority will invoice the Contractor for these expenses. Payment The Contractor shall be made make payment within thirty (30) days from the date of the invoice. If the Contractor fails to pay the invoice from its own funds, the Authority may, in its sole discretion, deduct the amount due from payments owed by the Authority to the Contractor. Additionally, the Authority may find Contractor or determine that the Contractor is in default under Article 11 of the Contract.