Common use of Inspection of Ambrx Records Clause in Contracts

Inspection of Ambrx Records. Upon reasonable prior notice, Ambrx shall permit an independent nationally recognized certified public accounting firm (subject to obligations of confidentiality to Ambrx), appointed by BMS and reasonably acceptable to Ambrx, to inspect the applicable records of Ambrx to verify the Research Program Costs (including the level of FTE effort); provided that such inspection shall not occur more often than once per Calendar Year, unless a material error is discovered in such inspection in which case BMS shall have the right to conduct a more thorough inspection for such period. Any inspection conducted under this Section 3.18 shall be at the expense of BMS. Any overpayment by BMS to Ambrx shall be credited against future amounts due by BMS to Ambrx. Any underpayment by BMS shall be paid in the next quarterly reimbursement to Ambrx or within forty-five (45) days, whichever is later.

Inspection of Ambrx Records. Upon reasonable prior notice, Ambrx shall permit an independent nationally recognized certified public accounting firm (subject to obligations of confidentiality to Ambrx), appointed by BMS and reasonably acceptable to Ambrx, to inspect the applicable records of Ambrx to verify the Research Program Costs (including the level of FTE effort); provided that such inspection shall not occur more often than once per Calendar Year, unless a material error is discovered in such inspection in which case BMS shall have the right to conduct a more thorough inspection for such period. Any inspection conducted under this Section 3.18 shall be at the expense of BMS. Any overpayment by BMS to Ambrx shall be credited against future amounts due by BMS to Ambrx. Any underpayment by BMS shall be paid in the next quarterly Calendar Quarter reimbursement to Ambrx or within forty-five (45) days, whichever is later.