Oasmia Records and Control Clause Samples

Oasmia Records and Control. Oasmia shall maintain, and require its Affiliates and any third party manufacturers to maintain, accurate records of all manufacturing, packaging and material costs of the Products as well as relevant invoicing or other documentation relating thereto. Upon reasonable prior written notice from A▇▇▇▇▇, Oasmia shall allow such records to be made open to audit by A▇▇▇▇▇ or on A▇▇▇▇▇’▇ behalf by an independent certified public accountant of A▇▇▇▇▇’▇ selection, to verify Oasmia’s manufacturing, packaging and material costs and reasonableness of any changes to such costs that are requested by Oasmia. Such accountant, if any, shall be first made subject to confidentiality obligations not more burdensome than those to which A▇▇▇▇▇ and Oasmia are subject to under this Agreement. Oasmia’s records which are the object of this audit clause shall be maintained and be made available for audit for a period of at least six (6) years from the end of each then current year. In the event that such audit finds that an overcharge of five per cent (5%) or more has been made by Oasmia, Oasmia shall reimburse A▇▇▇▇▇ the cost of the audit (within thirty (30) days of its receipt of notice of the results of the audit). To be inserted within 6 months of date of agreement The Parties recognize that from time to time a dispute may arise relating to either Party’s rights or obligations under this Agreement. The Parties agree that any such dispute shall be resolved by the Alternative Dispute Resolution (“ADR”) provisions set forth in this Exhibit, the result of which shall be binding upon the Parties. To begin the ADR process, a Party first must send written notice of the dispute to the other Party for attempted resolution by good faith negotiations between their respective presidents (or their designees) of the affected subsidiaries, divisions, or business units within twenty-eight (28) days after such notice is received (all references to “days” in this ADR provision are to calendar days). If the matter has not been resolved within twenty-eight (28) days of the notice of dispute, or if the Parties fail to meet within such twenty-eight (28) days, either Party may initiate an ADR proceeding as provided herein. The Parties shall have the right to be represented by counsel in such a proceeding.