Records Retention Review Sample Clauses
Records Retention Review. Contractor and Subcontractor, as the case maybe, shall maintain at its office in Los Angeles County, California, full and complete records of all of its activities pursuant to this Agreement, including all permits, licenses, inspection reports, governmental or regulatory notices or approvals, maintenance logs, inspection reports and records and reports of any accidents or injuries on the Maintained Facilities. ACTA, the Owner or the Railroads may at any time during normal business hours and upon reasonable prior written notice review and/or copy (at the expense of the person reviewing and copying the records) any or all of such records and information, which review may be performed by the employees of ACTA, the Owner or the Railroads or by any agent thereof. Such records shall be maintained by Contractor and Subcontractor for a period of not less than three (3) calendar years after the termination of this Agreement.
Records Retention Review. 8.1 Cardiol shall maintain at its principal place of business, or such other place as may be most convenient, separate accounts and complete and accurate records of business done pursuant to this Agreement, such accounts and records to be in sufficient detail to enable the Parties to ensure that all proper returns including royalty payments are being made under this Agreement, and Cardiol shall require Meros to keep similar accounts and records.
8.2 Cardiol. shall retain the accounts and records referred to in Section 8.1 above for at least four (4) years after the date upon which they were made and shall permit a duly authorized representative of Meros to inspect such accounts and records during normal business hours of Cardiol, and upon reasonable written notice to ▇▇▇▇▇▇▇, at ▇▇▇▇▇’s expense. Meros may exercise its right of inspection only within the four (4) year period that Cardiol is required to maintain such accounts and records, may only exercise such right twice in any four consecutive calendar quarters, and only twice with respect to accounts and records covering any specific period of time. Cardiol shall furnish such reasonable evidence as such representative will deem necessary to verify royalty amounts payable to Meros and will permit such representative to make copies of or extracts from such accounts, records and agreements at ▇▇▇▇▇’s expense. Should such inspection of ▇▇▇▇▇▇▇’s records lead to the discovery that ▇▇▇▇▇▇▇ has paid less than 95% of the royalty amounts that should have been paid for such time period, ▇▇▇▇▇▇▇ agrees to promptly reimburse Meros in full for its documented, out-of-pocket cost of such inspection and to promptly pay any outstanding sums with interest calculated in accordance with Section 9.2. Should such inspection lead to a discovery that ▇▇▇▇▇▇▇ paid 105% or greater of the royalty amounts that should have been paid for such time period, such overpayment shall be credited against future payments due by ▇▇▇▇▇▇▇.
8.3 During the term of this Agreement and thereafter, all information provided to Meros or its representatives pursuant to this Article 8 shall remain confidential and be treated a Confidential Information by ▇▇▇▇▇, and Meros will not make same available to any other person except as may be required by law.
8.4 Notwithstanding the termination of this Agreement, this Article 8 shall remain in full force and effect until:
8.4.1 all payments required to be made by Cardiol to Meros under this Agreement have bee...
Records Retention Review