Common use of Records; Inspection and Audit Rights Clause in Contracts

Records; Inspection and Audit Rights. (a) During the Term and for six years thereafter, each Party agrees to maintain accurate records arising from or related to any Service provided hereunder, including accounting records and documentation produced in connection with the provision of any Service; provided, that each Party shall maintain such records for any longer duration required by any Law that is applicable to the other Party and of which such Party has reasonable prior notice. (b) Upon reasonable written notice from the Party receiving a Service, the Party providing such Service shall make available to such receiving Party or its designees (at such receiving Party’s sole expense) reasonable access to or, at the providing Party’s option and expense, copies of, the records with respect to such Service during regular business hours. Such records shall include documents relating to the amounts charged by the Party providing the Service, and the Party receiving the Service shall have the right to review and audit such records to verify such amounts. The rights and obligations of the Parties under the foregoing provisions of this Section 5.5(b) shall be subject to any limitations imposed by applicable Law. In the event of any discrepancies or disputes between the amounts charged by a Party and such Party’s records, the Parties shall work together to resolve such dispute in accordance with Section 11.14. If the resolution of such a dispute is that a Party owes money to the other Party, the Party to which money is owed shall add the amount owed to the next invoice that such Party prepares as a service provider; provided, that if no further invoices are due, the Party owing such amount shall pay it to the other Party within sixty (60) days following resolution of the dispute).

Records; Inspection and Audit Rights. (a) During the Term and for six seven years thereafter, each Party agrees to maintain accurate records arising from or related to any Service provided hereunder, including accounting records and documentation produced in connection with the provision of any Service; provided, that each Party shall maintain such records for any longer duration required by any Requirement of Law that is applicable to the other Party and of which such Party has reasonable prior notice. (b) Upon reasonable written notice from the Party receiving a Service, the Party providing such Service shall make available to such receiving Party or its designees Representatives (at such receiving Party’s sole expense) reasonable access to or, at the providing Party’s option and expense, copies of, the records with respect to such Service during regular business hours. Such records shall include documents relating to the amounts charged by the Party providing the Service, and the Party receiving the Service shall have the right to review and audit such records to verify such amounts. The rights and obligations of the Parties under the foregoing provisions of this Section 5.5(b) shall be subject to any limitations imposed by applicable Law. In the event of any discrepancies or disputes between the amounts charged by a Party and such Party’s records, the Parties shall work together to resolve such dispute in accordance with Section 11.1411.15. If the resolution of such a dispute is that a Party owes money to the other Party, the Party to which money is owed shall add the amount owed to the next invoice that such Party prepares as a service provider; provided, that if no further invoices are due, the Party owing such amount shall pay it to the other Party within sixty (60) days following resolution of the dispute).