Owner’s Right to Audit. The Contractor shall keep full and accurate records of all costs incurred and items billed in connection with the performance of the Work, which records shall be open to audit by Owner or its authorized representatives during the performance of the Work and until three (3) years after Final Payment. In addition, the Contractor shall make it a condition of all Subcontractors relating to the Work that any and all Subcontractors will keep accurate records of costs incurred and items billed in connection with their work and that such records shall be open to audit by Owner or its authorized representatives during the performance of the Work and until two
Owner’s Right to Audit. Owner shall have the right to request periodic audits of all applicable accounts managed by Pinnacle and the cost of such audits shall be paid by Owner, as an expense of the Project. Such audits may be made during normal business hours posted at the property with advance notice by Owner. Per Owner request, Agent will engage an independent third party firm to audit the annual records, as well as prepare partnership tax returns at the expense of the property. Pinnacle cannot be held liable for the work product performed by the auditor.
Owner’s Right to Audit. (a) Owner, or persons appointed by Owner, may examine all books, records and files maintained for Owner by Manager. Owner may perform any audit or investigations relating to Manager’s activities either at the Property or at any office of Manager if such audit or investigation relates to Manager’s activities for Owner.
(b) Should Owner or its appointees discover either weaknesses in internal control or errors in recordkeeping, Manager shall correct such discrepancies within a reasonable period of time. Manager shall inform Owner in writing of the action taken to correct any audit discrepancies.
Owner’s Right to Audit. Owner shall have the right to verify and audit the details of Construction Manager’s xxxxxxxx, certificates, accountings, cost data, and statements, either before or after payment, by (1) inspecting the books and records of Construction Manager; (2) examining any reports with respect to this Project; (3) interviewing Construction Manager’s employees; (4) visiting the Project site; and (5) any other reasonable action.
Owner’s Right to Audit. Owner shall have the right to request periodic audits of all applicable accounts managed by Agent, and the cost of such audit(s) shall be paid by Owner.
Owner’s Right to Audit. Owner and the individual members of the limited liability company reserve the right upon reasonable prior notice, to perform any and all additional audit procedures relating to the business where accounting books and records are kept.
Owner’s Right to Audit. Upon reasonable notice and during normal business hours, Owner shall have access to Manager’s books and records relating to the Property and shall have the right to audit such books and records during the period of this Agreement and for a period of five (5) years after termination of this Agreement. Owner also reserves the right upon reasonable notice and during business hours to perform any and all additional audits relating to Manager’s activities either at the Property or at Manager’s office located at 0000 Xxx Xxxx Xxxx, Xxxxx 000, Xxxxxxxxx, Xxxxxxxxx. If Owner’s employees or appointees discover either weaknesses in internal control or errors in record keeping, Manager shall correct such discrepancies either upon discovery or within a reasonable period of time. Manager shall inform Owner in writing of the action taken to correct such audit discrepancies. Any and all such audits conducted either by Owner’s employees or appointees shall be at the sole expense of Owner. However, if an audit reveals any errors in record keeping or any misappropriation of funds by Manager, its agents or employees or if the audit reveals that the net cash flow from the Property for the period audited exceeded the net cash flow reported by Manager in the Monthly Reports for such period by 3%, the cost of the audit shall be borne by Manager. Owner’s right to require Manager to pay the cost of audit under these circumstances shall be in addition to any other rights or remedies that Owner may have under this Agreement or in law or equity.
Owner’s Right to Audit. 7.1 Owner reserves the right to conduct or to appoint others to conduct examinations, at Owner's expense, without notification, of the books and records maintained for Owner by Agent and to perform any and all additional audit tests relating to Agent's activities hereunder.
7.2 Should Owner's employees or appointees discover either weaknesses in internal control or errors in record keeping, Agent shall correct such discrepancies either upon discovery or within a reasonable period of time. Agent shall inform Owner in writing of the action taken to correct such audit discrepancies.
Owner’s Right to Audit. 22 5.1 Right to Audit 22 ARTICLE 6. BANK ACCOUNTS 22 6.1 Operating Account 22 6.2 Security Deposit Account 23 6.3 Change of Banks 23 6.4 Access to Account 23
Owner’s Right to Audit. 10.12.1 Design Professional shall grant the Owner and its designated representative the right to audit, during the performance of the Services and for a period of three years after Final Payment, all books, records, correspondence and notes maintained by the Design Professional and any of its Subconsultants with respect to Services performed under this Agreement. A similar provision shall be incorporated by Design Professional in all subcontracts entered into in connection with this Agreement.
10.12.2 Owner shall provide the Design Professional 30 Days prior written notice of its intent to audit Design Professional’s or any Subconsultant’s records. Design Professional shall have the opportunity to audit itself prior to the proposed audit by Owner.
10.12.2.1 Should any overcharge to Owner be found by Design Professional’s audit, Design Professional shall pay Owner an amount equal to the amount overcharged (including any part of the Design Professional fee based on such overcharge).
10.12.2.2 If Owner’s audit reveals that the amounts charged to Owner by Design Professional exceeded the actual amounts to which Design Professional was entitled for the Services, then Design Professional shall pay Owner an amount equal to the amount overcharged (including any part of the Design Professional Fee based on such overcharge).
10.12.2.3 If the Owner’s audit reveals that the Design Professional is entitled to additional sums, Owner shall promptly reimburse Design Professional for the amount due.
10.12.3 During such inspections and audits, Owner shall have the right, at its expense, to take extracts and make copies of Design Professional’s records as it deems necessary to support its accounting report. Owner agrees to keep confidential all information and copies obtained pursuant to this section other than with respect to required disclosures in connection with disputes between the parties or as otherwise required by law, court order or governmental process.
10.12.4 The exercise by Owner, at any time of the right to audit Design Professional’s or any Subconsultant’s records and accounts, or the acceptance by Owner of any audit statement or the receipt and/or deposit of payments by Owner or Design Professional, or any payment tendered by or on behalf of Design Professional or Owner shall be without prejudice to any duties, rights or remedies of Owner, Design Professional or any Subconsultant.
