Common use of RIGHT OF INSPECTION AND AUDIT Clause in Contracts

RIGHT OF INSPECTION AND AUDIT. a. During regular business hours, any Persons designated by any Exchange may have access to Subscriber’s offices or locations in order to observe the use made of the Market Data and to examine and inspect any Devices, attachments or apparatuses, as well as any books and records required to be maintained by Subscriber under Sections 3b and 4 in connection with its receipt and use of Market Data. b. Subscriber will make prompt adjustment (including interest thereon at the rate of 1½% per month), to compensate the Vendor and Exchange if the audit discovers an under-reported use of the Market Data by Subscriber. In addition, at the election of any such Exchange, Subscriber will be liable for the reasonable costs of any audit that reveals a discrepancy in such Exchange’s favor of five percent (5%) or more of the amount of fees actually due such Exchange. c. Subscriber shall maintain the records and books upon which it bases its reporting for ASX, CME, CBOT, COMEX, NYMEX and DME Market Data for three (3) years following the period to which the records relate. Subscriber shall maintain the records and books upon which it bases the reporting for ICE Futures Canada, ICE Futures Europe, ICE Futures U.S., ICE SG and Eurex for six (6) years following the period to which the records and books relate. In the event that Subscriber fails to retain such records and books as required above, Subscriber agrees to pay each Exchange's reasonable estimate of any discrepancy discovered pursuant to any such audit.

RIGHT OF INSPECTION AND AUDIT. a. a) During regular business hours, any Persons designated by any Exchange may have access to Subscriber’s offices or locations in order to observe the use made of the Market Data and to examine and inspect any Devices, attachments or apparatuses, as well as any books and records required to be maintained by Subscriber under Sections 3b and 4 in connection with its receipt and use of Market Data. b. b) Subscriber will make prompt adjustment (including interest thereon at the rate of 1½% per month), to compensate the Vendor and Exchange if the audit discovers an under-reported use of the Market Data by Subscriber. In addition, at the election of any such Exchange, Subscriber will be liable for the reasonable costs of any audit that reveals a discrepancy in such Exchange’s favor of five percent (5%) or more of the amount of fees actually due such Exchange. c. c) Subscriber shall maintain the records and books upon which it bases its reporting for ASX, CME, CBOT, COMEX, COMEX and NYMEX and DME Market Data for three (3) years following the period to which the records relate. Subscriber shall maintain the records and books upon which it bases the reporting for ICE Futures Canada, ICE Futures Europe, ICE Futures U.S., ICE SG and Eurex for six (6) years following the period to which the records and books relate. In the event that Subscriber fails to retain such records and books as required above, Subscriber Xxxxxxxxxx agrees to pay each Exchange's reasonable estimate of any discrepancy discovered pursuant to any such audit.

RIGHT OF INSPECTION AND AUDIT. a. During regular business hours, any Persons designated by any Exchange may have access to Subscriber’s offices or locations in order to observe the use made of the Market Data and to examine and inspect any Devices, attachments or apparatuses, as well as any books and records required to be maintained by Subscriber under Sections 3b and 4 in connection with its receipt and use of Market Data. b. Subscriber will make prompt adjustment (including interest thereon at the rate of 1½% per month), to compensate the Vendor and Exchange if the audit discovers an under-reported use of the Market Data by Subscriber. In addition, at the election of any such Exchange, Subscriber will be liable for the reasonable costs of any audit that reveals a discrepancy in such Exchange’s favor of five percent (5%) or more of the amount of fees actually due such Exchange. c. Subscriber shall maintain the records and books upon which it bases its reporting for ASX, CME, CBOT, COMEX, NYMEX NYMEX, DME and DME Euronext Paris Market Data for three (3) years following the period to which the records relate. Subscriber shall maintain the records and books upon which it bases the reporting for ICE Futures Canada, ICE Futures Europe, ICE Futures U.S., ICE SG and Eurex for six (6) years following the period to which the records and books relate. In the event that Subscriber fails to retain such records and books as required above, Subscriber agrees to pay each Exchange's reasonable estimate of any discrepancy discovered pursuant to any such audit.

RIGHT OF INSPECTION AND AUDIT. a. During regular business hours, any Persons designated by any Exchange may have access to Subscriber’s offices or locations in order to observe the use made of the Market Data and to examine and inspect any Devices, attachments or apparatuses, as well as any books and records required to be maintained by Subscriber under Sections 3b and 4 in connection with its receipt and use of Market Data. b. Subscriber will make prompt adjustment (including interest thereon at the rate of 1½% per month), to compensate the Vendor and Exchange if the audit discovers an under-reported use of the Market Data by Subscriber. In addition, at the election of any such Exchange, Subscriber will be liable for the reasonable costs of any audit that reveals a discrepancy in such Exchange’s favor of five percent (5%) or more of the amount of fees actually due such Exchange. c. Subscriber shall maintain the records and books upon which it bases its reporting for ASX, CME, CBOT, COMEX, NYMEX and DME Market Data for three (3) years following the period to which the records relate. Subscriber shall maintain the records and books upon which it bases the reporting for ICE Futures Canada, ICE Futures Europe, ICE Futures U.S., ICE SG and Eurex for six (6) years following the period to which the records and books relate. In the event that Subscriber fails to retain such records and books as required above, Subscriber agrees to pay each Exchange's reasonable estimate of any discrepancy discovered pursuant to any such audit.

RIGHT OF INSPECTION AND AUDIT. a. During regular business hours, any Persons designated by any Exchange may have access to Subscriber’s 's offices or locations in order to observe the use made of the Market Data and to examine and inspect any Devices, attachments or apparatuses, as well as any books and records required to be maintained by Subscriber under Sections 3b 3(b) and 4 in connection with its receipt and use of Market Data. b. . Subscriber will make prompt adjustment (including interest thereon at the rate of 1½% per month), through Vendor, to compensate the Vendor and any Exchange if the audit that discovers an under-reported use of the Market Data by Subscriber. In addition, at the election of any such Exchange, Subscriber will be liable for the reasonable costs of any audit that reveals a discrepancy in such Exchange’s 's favor of five percent (5%) or more of the amount of fees actually due such Exchange. c. . Subscriber shall maintain the records and books upon which it bases its reporting for ASXCBOE, CBOT, CME, CBOTKCBOT, COMEX, NYMEX and DME or ONE CHICAGO Market Data for three (3) years following the period to which the records relate. Subscriber shall maintain the records and books upon which it bases the reporting for ICE Futures CanadaNYMEX, COMEX, ICE Futures EuropeFUTURES US, ICE Futures U.S.FUTURES EUROPE, or ICE SG and Eurex FUTURES CANADA Market Data for six (6) years following the period to which the records and books relate. In the event that Subscriber fails to retain such records and books as required above, Subscriber agrees to pay each Exchange's reasonable estimate of any discrepancy discovered pursuant to any such audit.

RIGHT OF INSPECTION AND AUDIT. a. During regular business hours, any Persons designated by any Exchange may have access to Subscriber’s 's offices or locations in order to observe the use made of the Market Data and to examine and inspect any Devices, attachments or apparatuses, as well as any books and records required to be maintained by Subscriber under Sections 3b 3(b) and 4 in connection with its receipt and use of Market Data. b. . Subscriber will make prompt adjustment (including interest thereon at the rate of 1½% 1½ % per month), through Vendor, to compensate the Vendor and any Exchange if the audit that discovers an under-reported use of the Market Data by Subscriber. In addition, at the election of any such Exchange, Subscriber will be liable for the reasonable costs of any audit that reveals a discrepancy in such Exchange’s 's favor of five percent (5%) or more of the amount of fees actually due such Exchange. c. . Subscriber shall maintain the records and books upon which it bases its reporting for ASXCBOE, CBOT, CME, CBOTKCBOT, COMEX, NYMEX and DME or ONE CHICAGO Market Data for three (3) years following the period to which the records relate. Subscriber shall maintain the records and books upon which it bases the reporting for ICE Futures CanadaNYMEX, COMEX, ICE Futures EuropeFUTURES US, ICE Futures U.S.FUTURES EUROPE, or ICE SG and Eurex FUTURES CANADA Market Data for six (6) years following the period to which the records and books relate. In the event that Subscriber fails to retain such records and books as required above, Subscriber agrees to pay each Exchange's reasonable estimate of any discrepancy discovered pursuant to any such audit.