Records and Auditing. 8.1 Each Party will maintain complete and accurate books, records and accounts used for the determination of any payment obligations under this Agreement, which books, records and accounts will be retained by such Party until [***] ([***]) years after the end of the period to which such books, records and accounts pertain. The Licensee shall make such books, records and accounts available to Ascendis for an additional [***] ([***]) years if reasonably available and required by the applicable tax authority.
Records and Auditing. 8.1 Each Party will maintain complete and accurate books, records and accounts used for the determination of any payment obligations under this Agreement, which books, records and accounts will be retained by such Party until [***] after the end of the period to which such books, records and accounts pertain. The Licensee shall make such books, records and accounts available to Ascendis for [***] if reasonably available and required by the applicable tax authority.
8.2 Each Party will have the right to have an independent certified public accounting firm of internationally recognised standing, reasonably acceptable to the other Party, have access during normal business hours, and upon timely request and at least [***] prior written notice, to such records of the other Party and its Affiliates as may be reasonably necessary to verify the accuracy of any payment made or received for any Quarterly Period ending not more than [***] prior to the date of such request; provided, however, that no Party will have the right to conduct more than one such audit in any [***] or more frequently than once with respect to records covering any specific period of time. The accounting firm will disclose to the Parties only whether the data reported by the audited Party are correct or incorrect and the specific details concerning any discrepancies. The auditing Party will bear all costs of such audit, unless the audit reveals a discrepancy in the auditing Party’s favour of more than [***], in which case the audited Party will bear the cost of the audit for the subject period. The accounting firm shall share any draft audit reports with the Licensee before such draft audit reports are shared with the auditing Party and before the final audit report is issued. The Parties shall discuss in good faith any disagreement in respect of the audit report. All information, data, documents and abstracts referred to shall be used only for the purpose of verifying any payment obligation under this Agreement, and shall be treated as the audited Party’s Confidential Information subject to use and disclosure restrictions and the confidentiality obligations of this Agreement. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
8.3 If, based on the results of any audit, additional payments are owed Ascendis under this Agreement, then the Licen...
Records and Auditing. General Contractor will require all subcontractors, Vendors and suppliers, and Prime Consultant will require that all subconsultants be bound by the records retention and auditing provisions in Section 10.13.
Records and Auditing. Indevus shall maintain complete and accurate records which are relevant to payments under this Agreement and, upon the written request of Schering with at least ten (10) Business Days’ notice, Indevus shall permit an independent certified public accounting firm of internationally recognized standing selected by Schering and consented to by Indevus, to have access to such records during reasonable business hours for any Contract Year ending not more than three (3) full Years prior to the date of such request for examination at Schering’s expense and not more often than once each Year, for the sole purpose of verifying for Schering the correctness of calculations under this Agreement. Schering shall bear its own costs related to such audit; provided, that for any underpayments by Indevus in an amount greater than five percent (5%) of the amounts owed in the aggregate by Indevus under this Agreement and the License Agreement for the applicable period or periods being examined, Indevus shall pay Schering the amount of underpayment, interest on the amount of the underpayment as provided for in Section 10.2 from the time the payment was due and the reasonable out-of-pocket costs of such accounting firm. For any underpayments by Indevus in an amount less than five percent (5%) of the amounts owed in the aggregate by Indevus for the applicable period or periods being examined under this Section 9.2, Indevus shall pay Schering the amount of such underpayment. Any overpayments by Indevus will, at Indevus’ option, be refunded to Indevus or credited to future payments. The accounting firm shall disclose to Schering only whether the reports are correct or incorrect and the specific details concerning any discrepancies. Any records or accounting information received from Indevus shall be confidential information solely for the purpose of Section 9.2. Results of any such audit shall be provided to both Parties and shall be considered Confidential Information as defined in Section 13.1. Upon the expiration of twenty-four (24) months following the end of any Contract Year the calculation of amounts owed for such Contract Year shall be binding and conclusive upon Schering, and Indevus shall be released from any liability or accountability with respect to payments for such Contract Year.
Records and Auditing. 11.1 Lipoxen and Pharms shall during the term of this Agreement and for a period of five (5) years thereafter, keep at their normal place of business detailed and up-to-date records and accounts showing:-
11.1.1 any and all costs and expenses it has incurred in relation to the Development Programme; and
11.1.2 the quantity, description, and value of Products sold by it, on a country-by-country basis, and being sufficient to ascertain the payments due under this Agreement.
11.2 Each of the parties shall make its records and accounts available, on reasonable notice, for inspection during business hours by an independent chartered accountant nominated by the other party for the purpose of verifying the accuracy of any statement or report provided under this Agreement and any payments due under this Agreement. The accountant shall be required to keep confidential all information learnt during any such inspection, and to disclose to the inspecting party only such details as may be necessary to report on the accuracy of the statement, report or payment. The inspecting party shall be responsible for the accountant’s charges unless the accountant certifies that there is an inaccuracy of more than 5% (five per cent) in any statement or payment, in which case the party being inspected shall pay the accountant’s charges in respect of that inspection.
Records and Auditing. Each party shall maintain complete and accurate records of the activities performed under this Agreement (including records of sales and distribution) for a period of three (3) years after the completion thereof. Records relating to the performance of this Agreement shall be made available in confidence to other party's independent certified public accountants (or equivalent for non-U.S. jurisdictions) upon reasonable notice, which records may be used for the sole purpose of auditing a party's compliance with the Agreement. In the event that a shortfall greater than 10% is discovered in royalties paid by a party, such audit shall be at the audited party's expense, and such party shall promptly make up the difference.
Records and Auditing. The Manager will maintain separate records of business written by the Manager for the Company. The Company has the right, upon reasonable written notice and during normal business hours of the Manager, to copy, inspect and audit all the records, files and documents related to the Business as the Company, at its sole discretion, deems necessary. The Manager agrees to cooperate with the Company in conducting such inspections and audits. The insurance commissioner of the State of Wisconsin (the "Commissioner") shall have access to all books, bank accounts and records of the Manager in a form usable by the Commissioner. The Manager shall retain records according to sections Ins 6.61 and 6.80 of the Wisconsin Administrative Code Rules of the Commissioner of Insurance.
Records and Auditing. Licensee shall keep complete and accurate records of its activities under this Agreement. Not more than once each year, Xxxx may appoint a Certified Public Accountant, or equivalent thereof, of Xxxx’s choice for the purpose of performing an audit of Licensee’s relevant records. If, upon audit of Licensee’s records, it is determined that Licensee has underpaid by five percent (5%) or more the payment due to Avid for any period, Licensee shall promptly reimburse Avid for the full reasonable cost of the audit and pay to Avid the deficiency in the payment due Avid, including the interest prescribed in Section A.3.4.
Records and Auditing. Supplier shall maintain accurate and complete records relating to its performance of this Agreement, including accounting records in support of all xxxxxxxx to Company. These records shall be retained by Supplier and be reasonably available for Company's inspection and audit for 4 years after completion or termination of this Agreement.
Records and Auditing. Supplier shall maintain accurate and complete books, documents, accounting records and other records pertaining to the goods and services for six (6) years (or longer as required by applicable law) from the later of the date of final payment under this Purchase Order or LVCVA’s acceptance of the goods and services. Supplier shall make such records available to LVCVA for inspection, audit, examination, reproduction, and copying at Supplier’s offices at all reasonable times. However, if requested, Supplier shall furnish copies of said records at its expense to LVCVA, within seven (7) business days of the request.
