Recordkeeping; Inspection. 7.1. Grantee will maintain its books and records in a manner that provides BCAF with sufficient detail to review expenditures related to the Project and make them available to BCAF upon request. BCAF may monitor the Project to ensure compliance with the Project Description, this Agreement, BCAF’s exempt purposes, and applicable laws.
Recordkeeping; Inspection. Grantee will maintain its books and records in a manner that provides Client with sufficient detail to review expenditures related to the Project and make them available to Client upon request. Client may monitor the Project to ensure compliance with the Project Description, this Agreement, Client’s exempt purposes, and applicable laws.
Recordkeeping; Inspection. Accurate books of account shall be kept by RAYOVAC and shall be open for three years following the close of the calendar year to which they pertain. At AER's written request, such records shall be inspected and reviewed for accuracy by AER or its representative(s) at AER's cost and expense. Such inspection and review shall take place no more than once each year, provided that if any such inspection reveals one or more errors resulting in an understatement of Net Sales Value of $25,000 or more, AER shall be permitted to conduct the inspection and review contemplated by this Section 4.3 twice for each of the next two (2) years, and RAYOVAC shall pay AER's costs and expenses (including professional fees) of one such inspection and review during each of the two (2) succeeding years. Prompt adjustment shall be made to the proper party to compensate for any errors or omissions disclosed by such inspection and review.
Recordkeeping; Inspection. Licensee shall keep, and shall cause its Affiliates, sublicensees and distributors to keep, true, accurate and complete records of total quantities of Licensed Compounds sold and the Net Sales thereof in sufficient detail to permit determination of royalties payable hereunder. At the request and expense of KB, KB shall have the right for its then currently engaged independent accountants to have reasonable access at all reasonable times upon reasonable prior notice during normal business hours, to audit and examine, and make copies or extracts of and from, the books, records and accounts of Licensee and its Affiliates, sublicensees and distributors as may be necessary in such accountant's judgment to permit it to attest that the royalties paid or payable hereunder conform to the terms of this Agreement. Such rights of access, audit and inspection for any Calendar Year shall terminate two years after the close of each Calendar Year in respect of royalties paid or payable for such Calendar Year. KB shall enter into a written engagement with such accountants, a copy of which shall be provided to Licensee, providing that (i) the scope of the engagement with respect to such audit and examination is limited to the rights provided in this Section 7.2(b) and, if the audit is performed in connection with another audit permitted by any other agreement between an Affiliate, sublicensee or distributor of KB and Licensee, the rights of such Affiliate, sublicensee or distributor under such other agreement, (ii) such accountants agree to use
