Maintenance and Auditing of Records Sample Clauses

Maintenance and Auditing of Records. (a) The Parties will keep and will require that their Affiliates and sublicensees keep true and accurate records and books of account containing all data necessary for the calculation of costs for non-clinical and clinical studies undertaken by BioNumerik hereunder, the Commercial Milestone Payments and the Net Profit, including, but not limited to, the Incurred Costs, and Net Sales, profit sharing pursuant to Section 8.4(i), and for preparation of the written reports due hereunder. Those records and books of account will be kept for three (3) years following the end of each Fiscal Year to which they relate. (b) Upon twenty (20) business days notice, each Party may have an independent registered public accounting firm audit the other Party's or Affiliate's or sublicensee's records and books of account to verify that every charge and payment is correctly made in accordance with this Agreement. Such inspections will be no more frequent than once each calendar year during the term of this Agreement, and once within six (6) months after termination of this Agreement. Prior to audit implementation, each Party will submit an audit plan, including audit scope and name(s) of proposed public accounting firm, to the other Party for approval, which approval will not be unreasonably withheld. The independent registered public accounting firm will keep confidential any information obtained during such inspection and will only report to the requesting Party the result on whether the item(s) being reviewed is accurate or not and the amount of any inaccuracy or discrepancy. (c) The cost of the accounting firm will be the responsibility of the auditing Party unless the certification shows the audited Party to have underpaid or overcharged the auditing Party by more than five percent (5%) in which case the cost of the accounting firm will be the responsibility of the audited Party. If an audit reveals an over or underpayment or over or undercharge, the Parties will take such steps as necessary to rectify the error. (d) Within ten (10) business days following any such certification any monies which such certification shows as being due and owing by one Party to the other (whether because of an underpayment or overpayment) will be paid by the owing Party. (e) In the conduct of their respective reporting activities under this Agreement, each Party, its Affiliates, or its sublicensees will prepare all accounting information in accordance with United States GAAP or as otherwise ...
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Maintenance and Auditing of Records. LICENSEE shall maintain its books and records in accordance with generally accepted accounting principles and state and federal regulations consistently applied. Books and records of the TEGG Division shall be further maintained in the form and manner set forth in the COM. All books and records of LICENSEE shall be preserved for at least three (3) years from the date of their preparation. LICENSEE shall submit to TEGG, in a timely manner, reports, records, information and data relating to its TEGG Division as TEGG may designate in the COM.
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Maintenance and Auditing of Records. First Franklin agrees to maintain for a period not to exceed eighteen (18) months from the date of the transmission, the pertinent EDI Service transaction traffic record which relates to and support the payments due under this Article IV. First Franklin agrees to maintain for a period not to exceed one (1) year any and all First Franklin System transaction traffic records related to the EDI Service transactions. Genesis agrees to maintain for a period not to exceed eighteen (18) months form the date of the performed services, the pertinent performed service hours which relate to the payment due under this Article IV. Each [*] Confidential Treatment Requested Party shall be permitted the right to audit or cause a representative of the auditing Party to audit such other Party's relevant records in order to support or ascertain the correctness of the amounts due or paid under this Article IV. Such audit is subject to (a) no less than twenty (20) days written notice must be provided to the other Party, (b) the audit must be conducted during normal business hours of the audited Party, (c) no more than one (1) audit per quarter may be conducted. If an audited period results in a determination in favor of the auditing Party, then the auditing Party shall be entitled to reimbursement of its incurred reasonable auditing expenses, but not to exceed the incorrect amounts due the auditing Party.
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Related to Maintenance and Auditing of Records

  • Maintenance Retention and Audit of Records The Bank shall maintain all books, documents, papers, accounting records and other evidence pertaining to costs incurred and services provided pursuant to this Agreement, and shall make such information available at its office during the Purchase Period and for four years from the date of final payment of Reimbursement Obligations under this Agreement, until completion of all audits, or until pending litigation has been completely and fully resolved, whichever occurs last.

  • Inspection and Audit of Records Any records or documents that Section 9.2 of this Agreement requires Consultant to maintain shall be made available for inspection, audit, and/or copying at any time during regular business hours, upon oral or written request of the City. Under California Government Code Section 8546.7, if the amount of public funds expended under this Agreement exceeds TEN THOUSAND DOLLARS ($10,000.00), the Agreement shall be subject to the examination and audit of the State Auditor, at the request of City or as part of any audit of the City, for a period of three (3) years after final payment under the Agreement.

  • RETENTION AND AUDIT OF RECORDS CONTRACTOR shall retain records pertinent to this Agreement for a period of not less than five (5) years after final payment under this Agreement or until a final audit report is accepted by COUNTY, whichever occurs first. CONTRACTOR hereby agrees to be subject to the examination and audit by the Santa Xxxx County Auditor-Controller, the Auditor General of the State of California, or the designee of either for a period of five (5) years after final payment under this Agreement.

  • Maintenance and Inspection of Records A. The SERVICE PROVIDER at such times and in such forms as the CITY may require, shall furnish to the CITY such statements, records, reports, data, and information as the CITY may request pertaining to matters covered by this Agreement. B. The SERVICE PROVIDER shall maintain books, records and documents, which sufficiently and properly reflect all direct and indirect costs related to the performance of this Agreement and shall maintain such accounting procedures and practices as may be necessary to assure proper accounting of all funds paid pursuant to this Agreement. These records shall be subject at all reasonable times to inspection, review, or audit, by the CITY, its authorized representative, the State Auditor, or other governmental officials authorized by law to monitor this Agreement. C. To ensure the CITY’S compliance with the Public Records Act, RCW 42.56, the SERVICE PROVIDER shall retain all books, records, documents and other material relevant to this agreement, for six (6) years after its expiration. The SERVICE PROVIDER agrees that the CITY or its designee shall have full access and right to examine any of said materials at all reasonable times during said period.

  • Maintenance of Records I agree to keep and maintain adequate and current written records of all Inventions made by me (solely or jointly with others) during the term of my employment with the Company. The records will be in the form of notes, sketches, drawings, and any other format that may be specified by the Company. The records will be available to and remain the sole property of the Company at all times.

  • Inspection of Records Upon reasonable notice to the Administrative Trustees and the Property Trustee, the records of the Trust shall be open to inspection by Securityholders during normal business hours for any purpose reasonably related to such Securityholder's interest as a Securityholder.

  • Audit of Records Consultant shall make all records, invoices, time cards, cost control sheets and other records maintained by Consultant in connection with this agreement available during Consultant’s regular working hours to City for review and audit by City.

  • Establishment and Maintenance of Records GRANTEE shall maintain records, including but not limited to, books, financial records, supporting documents, statistical records, personnel, property, and all other pertinent records sufficient to reflect properly: a. All direct and indirect costs of whatever nature claimed to have been incurred and anticipated to be incurred in the performance of this AGREEMENT; and b. All other matters covered by this AGREEMENT. Such records shall be maintained in accordance with requirements now or hereafter prescribed by the CITY.

  • Audit and Inspection of Records Contractor agrees to maintain and make available to the City, during regular business hours, accurate books and accounting records relating to its Services. Contractor will permit City to audit, examine and make excerpts and transcripts from such books and records, and to make audits of all invoices, materials, payrolls, records or personnel and other data related to all other matters covered by this Agreement, whether funded in whole or in part under this Agreement. Contractor shall maintain such data and records in an accessible location and condition for a period of not fewer than five years after final payment under this Agreement or until after final audit has been resolved, whichever is later. The State of California or any Federal agency having an interest in the subject matter of this Agreement shall have the same rights as conferred upon City by this Section. Contractor shall include the same audit and inspection rights and record retention requirements in all subcontracts.

  • EXAMINATION OF RECORDS The Contractor shall maintain during the course of the work complete and accurate records of all of the Contractor's costs and documentation of items which are chargeable to H-GAC under this Agreement. H-GAC, through its staff or designated public accounting firm, the State of Texas, and United States Government, shall have the right at any reasonable time to inspect, copy and audit those records on or off the premises by authorized representatives of its own or any public accounting firm selected by H- GAC. The right of access to records is not limited to the required retention period, but shall last as long as the records are retained. Failure to provide access to records may be cause for termination of the Agreement. The records to be thus maintained and retained by the Contractor shall include (without limitation): (1) personnel and payroll records, including social security numbers and labor classifications, accounting for total time distribution of the Contractor's employees working full or part time on the work, as well as cancelled payroll checks, signed receipts for payroll payments in cash, or other evidence of disbursement of payroll payments; (2) invoices for purchases, receiving and issuing documents, and all other unit inventory records for the Contractor's stocks or capital items; and (3) paid invoices and cancelled checks for materials purchased and for subcontractors' and any other third parties' charges. The Contractor further agrees that the examination of records outlined in this article shall be included in all subcontractor or third-party agreements.

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