Reports and Audits. 23.01 Authority Right to Perform Audits, Inspections, or Attestation Engagements. At any time or times during the Term of this Agreement or within three (3) years after the end of this Agreement, Authority, or its duly authorized representative, will be permitted to initiate and perform audits, inspections or attestation engagements over Xxxxxxx’s records for the purpose of substantiating the accuracy of payments to Authority or Airline’s compliance with other provisions of this Agreement. Free and unrestricted access will be granted to all of Airline’s records directly pertinent to this Agreement for purposes of substantiating payments or compliance. If the records are maintained at locations other than the Airport, Airline will arrange for said records to be brought to a location convenient to Authority auditors to conduct the engagement as set forth in this Article. In the event Airline maintains the needed documentation in electronic format, upon request by Authority auditors, Airline will provide a download or extract of data files in a computer readable format acceptable to Authority at no additional cost. Authority has the right during the engagement to interview Airline’s employees, subconsultants, and subcontractors, and to make photocopies of records as needed. If, as a result of any engagement, it is established that Airline owes additional fees or charges to Authority, Airline will pay such additional fees and charges and Authority may assess interest in accordance with Section 7.04. Airline agrees to deliver or provide access to all records requested by Authority auditors within seven (7) calendar days of each request. The Parties recognize that Authority will incur additional costs if records requested by Authority auditors are not provided in a timely manner and that the amount of those costs is difficult to determine with certainty. Consequently, the Parties agree that Authority may assess liquidated damages in the amount of one hundred dollars ($100.00), in addition to all other contractual financial requirements, for each item in a records request, per calendar day, for each time Airline is late in submitting requested records to perform the engagement. Accrual of fee will continue until specific performance is accomplished. The Parties expressly agree that these liquidated damages are not a penalty and represent reasonable estimates of fair compensation for the losses that reasonably may be anticipated from Airline’s failure to comply.
Appears in 2 contracts
Samples: Space Rental Agreement, Space Rental Agreement
Reports and Audits. SAMPLE
23.01 Authority Right to Perform Audits, Inspections, or Attestation Engagements. Engagements At any time or times during the Term of this Agreement or within three (3) years after the end of this Agreement, Authority, or its duly authorized representative, will be permitted to initiate and perform audits, inspections or attestation engagements over XxxxxxxCompany’s records for the purpose of substantiating the accuracy of payments to Authority or AirlineCompany’s compliance with other provisions of this Agreement. Free and unrestricted access will be granted to all of AirlineCompany’s records directly pertinent to this Agreement for purposes of substantiating payments or compliance. If the records are maintained at locations other than the Airport, Airline Company will arrange for said records to be brought to a location convenient to Authority auditors to conduct the engagement as set forth in this Article. In the event Airline Company maintains the needed documentation in electronic format, upon request by Authority auditors, Airline Company will provide a download or extract of data files in a computer readable format acceptable to Authority at no additional cost. Authority has the right during the engagement to interview AirlineCompany’s employees, subconsultants, and subcontractors, and to make photocopies of records as needed. If, as a result of any engagement, it is established that Airline Company owes additional fees or charges to Authority, Airline Company will pay such additional fees and charges and Authority may assess interest in accordance with Section 7.04. Airline Company agrees to deliver or provide access to all records requested by Authority auditors within seven (7) calendar days of each request. The Parties recognize that Authority will incur additional costs if records requested by Authority auditors are not provided in a timely manner and that the amount of those costs is difficult to determine with certainty. Consequently, the Parties agree that Authority may assess liquidated damages in the amount of one hundred dollars ($100.00), in addition to all other contractual financial requirements, for each item in a records request, per calendar day, for each time Airline Company is late in submitting requested records to perform the engagement. Accrual of fee will continue until specific performance is accomplished. The Parties expressly agree that these liquidated damages are not a penalty and represent reasonable estimates of fair compensation for the losses that reasonably may be anticipated from AirlineCompany’s failure to comply.
Appears in 2 contracts
Samples: Space Rental Agreement, Space Rental Agreement
Reports and Audits.
23.01 Authority Right to Perform Audits, Inspections, or Attestation Engagements. At any time or times during the Term of this Agreement or within three (3) years after the end of this Agreement, Authority, or its duly authorized representative, will be permitted to initiate and perform audits, inspections or attestation engagements over XxxxxxxAirline’s records for the purpose of substantiating the accuracy of payments to Authority or Airline’s compliance with other provisions of this Agreement. Free and unrestricted access will be granted to all of Airline’s records directly pertinent to this Agreement for purposes of substantiating payments or compliance. If the records are maintained at locations other than the Airport, Airline will arrange for said records to be brought to a location convenient to Authority auditors to conduct the engagement as set forth in this Article. In the event Airline maintains the needed documentation in electronic format, upon request by Authority auditors, Airline will provide a download or extract of data files in a computer readable format acceptable to Authority at no additional cost. Authority has the right during the engagement to interview Airline’s employees, subconsultants, and subcontractors, and to make photocopies of records as needed. If, as a result of any engagement, it is established that Airline owes additional fees or charges to Authority, Airline will pay such additional fees and charges and Authority may assess interest in accordance with Section 7.04. Airline agrees to deliver or provide access to all records requested by Authority auditors within seven (7) calendar days of each request. The Parties recognize that Authority will incur additional costs if records requested by Authority auditors are not provided in a timely manner and that the amount of those costs is difficult to determine with certainty. Consequently, the Parties agree that Authority may assess liquidated damages in the amount of one hundred dollars ($100.00), in addition to all other contractual financial requirements, for each item in a records request, per calendar day, for each time Airline is late in submitting requested records to perform the engagement. Accrual of fee will continue until specific performance is accomplished. The Parties expressly agree that these liquidated damages are not a penalty and represent reasonable estimates of fair compensation for the losses that reasonably may be anticipated from Airline’s failure to comply.
Appears in 1 contract
Samples: Space Rental Agreement