Common use of Rights Regarding Books and Records Clause in Contracts

Rights Regarding Books and Records. The EAA will authorize the Permittee upon reasonable notice to examine and copy at the Permittee’s sole expense, in accordance with the EAA’s standard copy fee schedule, all the books and records kept by the EAA regarding this Agreement. In addition, upon reasonable prior written notice to the EAA, the Permittee may conduct a complete audit of the books and records. Any such audit will be at the Permittee’s sole expense and will be prepared by a certified public accounting firm. If the audit report discloses actual errors in the books and records of the EAA such that the payments made to the Permittee are in error, then such error will be corrected for the period up to four years after the erroneous payment was paid and all payments reconciled over the subsequent twelve month period beginning with the EAA’s fiscal year. If the error identified in the audit is greater than the cost of the audit, the EAA will reimburse the Permittee’s cost of the audit.