Liquidation: Accounting and Reports Sample Clauses

Liquidation: Accounting and Reports. When the Lender conducts the liquidation, it will account for funds during the period of liquidation and will provide USDA with periodic reports on the progress of liquidation, disposition of collateral, resulting costs and additional procedures necessary for successful completion of liquidation. The Lender will transmit to the Agency the pro rata share, of any payments received from the Borrower, and of liquidation or other proceeds, etc. when USDA is the holder of a portion of the guaranteed loan using Form RD 1980-43, “Xxxxxx’s Guaranteed Loan Payment to USDA.” When USDA liquidates, the Lender will be provided with similar reports on request.
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Liquidation: Accounting and Reports. When the Lender conducts the liquidation, it will account for funds during the period of liquidation and will provide the Government with periodic reports on the progress of liquidation, disposition of collateral, resulting costs and additional procedures necessary for successful completion of liquidation. The Lender will transmit to the Government any payments received from the Borrower and pro rata share of liquidation or other proceeds, etc. when the Government is the holder of a portion of the guaranteed loan using the appropriate Government form. When the Government liquidates, the Lender will be provided with similar reports on request.
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Liquidation: Accounting and Reports. When the Lender conducts the liquidation, it will account for funds during the period of liquidation and will provide HRSA with periodic reports on the progress of liquidation, disposition of collateral, resulting costs and additional procedures necessary for successful completion of liquidation. The Lender will transmit to HRSA any payments received from the Borrower and pro rata share of liquidation or other proceeds, etc. when HRSA is the holder of a portion of the guaranteed loan. When HRSA liquidates, the Lender will be provided with similar reports on request.
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Related to Liquidation: Accounting and Reports

  • Accounting and Records The books and records of the Company shall be made and maintained, and the financial position and the results of its operations recorded, at the expense of the Company, in accordance with such method of accounting as is determined by the Managing Member. The books and records of the Company shall reflect all Company transactions and shall be made and maintained in a manner that is appropriate and adequate for the Company’s business.

  • Information and Reports The contractor will provide all information and reports required by the Acts, the Regulations, and directives issued pursuant thereto and will permit access to its books, records, accounts, other sources of information, and its facilities as may be determined by the sponsor or the Federal Aviation Administration to be pertinent to ascertain compliance with such Nondiscrimination Acts And Authorities and instructions. Where any information required of a contractor is in the exclusive possession of another who fails or refuses to furnish the information, the contractor will so certify to the sponsor or the Federal Aviation Administration, as appropriate, and will set forth what efforts it has made to obtain the information.

  • Accounting and Audits Criteria Architect must establish and maintain books, records, and systems of account, in accordance with generally accepted accounting principles, reflecting all business operations of Criteria Architect transacted under this Agreement. Criteria Architect shall retain these books, records, and systems of account during the Term of this Agreement and for three (3) years thereafter. Pursuant to Government Code Section 8546.7, this Agreement is subject to examination and audit of the State Auditor as specified in the code. Criteria Architect shall permit the Judicial Council, its agent, other representatives, or an independent auditor to audit, examine, and make excerpts, copies, and transcripts from all books and original records, and to make audit(s) of all billing statements, invoices, original records, and other data related to the Services covered by this Agreement. Audit(s) may be performed at any time, provided that the Judicial Council shall give reasonable prior Notice to Criteria Architect and will conduct audit(s) during Criteria Architect’s normal business hours, unless Criteria Architect otherwise consents. If an audit or Judicial Council internal review reveals that the Criteria Architect and/or its Subconsultant(s) have overcharged the Judicial Council, Criteria Architect will immediately pay to the Judicial Council the overcharged amount plus interest from the date of receipt of overpayment. The rate of interest will be equal to eighteen percent (18%) per year, or the maximum rate permitted by applicable law, whichever is less. The audit or Judicial Council internal review will be conducted at the Judicial Council’s expense, unless the audit or review reveals that the Criteria Architect and/or its Subconsultant(s) has overcharged the Judicial Council by ten percent (10%) or more on any invoice, in which case the Criteria Architect will reimburse the Judicial Council for all costs and expenses incurred by the Judicial Council in connection with such audit or review, including direct and indirect costs associated with Judicial Council representatives. This remedy shall not be exclusive to any other remedies available to the Judicial Council including, without limitation, a claim against the Criteria Architect for a False Claim pursuant to the False Claims Act (Gov. Code § 12650, et seq.) IMS/Monetary Penalties. The Judicial Council shall be entitled to remedy any “False Claims,” as defined in California Government Code section 12650 et seq., made to the Judicial Council by the Criteria Architect or any Sub-Consultant under the standards set forth in Government Code section 12650 et seq. Any Criteria Architect or Sub-Consultant who submits a False Claim shall be liable to the Judicial Council for three (3) times the amount of damages that the Judicial Council sustains from the False Claim. If Criteria Architect and/or Sub-Consultant submits a False Claim, they shall also be liable to the Judicial Council for: (a) the costs, including attorney fees, of a civil action brought to recover any of those penalties or damages, and (b) a civil penalty of up to $10,000 for each false claim. Accounting System Requirements. Criteria Architect shall maintain and shall ensure that its Sub-Consultant(s) maintain, an adequate system of accounting and internal controls that meets GAAP. The obligations of this Section shall survive the expiration of and any termination of this Agreement.

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