Common use of Supervision and Monitoring Clause in Contracts

Supervision and Monitoring. 9.1.1 The Buyers are entitled at any time during the Agreement Period to audit the conformity to the contractual provisions of the Services itself or have the conformity audited by an auditor of its choice by notifying the Air Operator of the audit in writing at least fourteen (14) days in advance. 9.1.2 In particular, the Buyers have the right to inspect the documentation concerning the revenue from the purchased Air Services (local traffic part), to view data retained about them in databases and to make copies and extracts thereof. The Buyer also has the right to inspect the Air Operator’s aircraft. 9.1.3 As part of the audit, the Air Operator shall submit an itemisation calculation and an auditor’s report for the Agreement Period concerning the Services for the purpose of assessing whether the Operating Compensation is reasonable. For special reasons, the Buyers may request that an extraordinary audit of the Air Operator’s operations and accounting be conducted at the Buyers' expense. 9.1.4 The Air Operator undertakes to assist the Buyers or an independent, qualified and mutually approved third-party auditor in such inspections and to submit any necessary documentation. 9.1.5 The compensation paid may not exceed the amount required to cover the net costs incurred in discharging each public service obligation, taking into account the revenue gained therefrom by the Air Operator and a reasonable profit (Regulation (EC) No 1008/2008, Article 17(8)), as well as the Operating Compensation presented by the Supplier in its offer. The reasonability of the Operating Compensation paid is assessed by the Parties. 9.1.6 The Air Operator shall submit its public financial statements to the Buyers within two (2) months of them being confirmed.

Supervision and Monitoring. 9.1.1 The Buyers are Buyer is entitled at any time during the Agreement Period to audit the conformity to the contractual provisions of the Services itself or have the conformity audited by an auditor of its choice by notifying the Air Operator of the audit in writing at least fourteen (14) days in advance. 9.1.2 In particular, the Buyers have Buyer has the right to inspect the documentation concerning the revenue from the purchased Air Services (local traffic part)Services, to view data retained about them in databases and to make copies and extracts thereof. The Buyer also has the right to inspect the Air Operator’s aircraft. 9.1.3 As part of the audit, the Air Operator shall submit an itemisation calculation and an auditor’s report for the Agreement Period concerning the Services for the purpose of assessing whether the Operating Compensation is reasonable. For special reasons, the Buyers Buyer may request that an extraordinary audit of the Air Operator’s operations and accounting be conducted at the Buyers' Buyer’s expense. 9.1.4 The Air Operator undertakes to assist the Buyers Buyer or an independent, qualified and mutually approved a third-party auditor in such inspections and to submit any necessary documentation. 9.1.5 The compensation paid may not exceed the amount required to cover the net costs incurred in discharging each public service obligation, taking into account the revenue gained therefrom by the Air Operator and a reasonable profit (Regulation (EC) No 1008/2008, Article 17(8)), as well as the Operating Compensation presented by the Supplier in its offer. Reasonable profit shall not exceed 6,5% on annual basis after allocating all direct and indirect costs including Tenderer’s overhead in proportion to the route. Evaluation of the profitability will be made on an annual basis. The reasonability of the Operating Compensation paid is assessed by the Parties. 9.1.6 The Air Operator shall submit its public annual financial statements to the Buyers Buyer within two (2) months of them being confirmed.

Supervision and Monitoring. 9.1.1 The Buyers are Buyer is entitled at any time during the Agreement Period to audit the conformity to the contractual provisions of the Services itself or have the conformity audited by an auditor of its choice by notifying the Air Operator of the audit in writing at least fourteen (14) days in advance. 9.1.2 In particular, the Buyers have Buyer has the right to inspect the documentation concerning the revenue from the purchased Air Services (local traffic part)Services, to view data retained about them in databases and to make copies and extracts thereof. The Buyer also has the right to inspect the Air Operator’s aircraft. 9.1.3 As part of the audit, the Air Operator shall submit an itemisation calculation and if requested an auditor’s report for the Agreement Period concerning the Services for the purpose of assessing whether the Operating Compensation is reasonable. For special reasons, the Buyers Buyer may request that an extraordinary audit of the Air Operator’s operations and accounting be conducted at the Buyers' Buyer’s expense. 9.1.4 The Air Operator undertakes to assist the Buyers Buyer or an independent, qualified and mutually approved a third-party auditor in such inspections and to submit any necessary documentation. 9.1.5 The compensation paid may not exceed the amount required to cover the net costs incurred in discharging each public service obligation, taking into account the revenue gained therefrom by the Air Operator and a reasonable profit (Regulation (EC) No 1008/2008, Article 17(8)), as well as the Operating Compensation presented by the Supplier in its offer. The reasonability of the Operating Compensation paid is assessed by the Parties. 9.1.6 The Air Operator shall submit its public financial statements to the Buyers Buyer within two (2) months of them being confirmed.

Supervision and Monitoring. 9.1.1 The Buyers are Buyer is entitled at any time during the Agreement Period to audit the conformity to the contractual provisions of the Services itself or have the conformity audited by an auditor of its choice by notifying the Air Operator of the audit in writing at least fourteen (14) days in advance. 9.1.2 In particular, the Buyers have Buyer has the right to inspect the documentation concerning the revenue from the purchased Air Services (local traffic part)Services, to view data retained about them in databases and to make copies and extracts thereof. The Buyer also has the right to inspect the Air Operator’s aircraft. 9.1.3 As part of the audit, the Air Operator shall submit an itemisation calculation and an auditor’s report for the Agreement Period concerning the Services for the purpose of assessing whether the Operating Compensation is reasonable. For special reasons, the Buyers Buyer may request that an extraordinary audit of the Air Operator’s operations and accounting be conducted at the Buyers' Buyer’s expense. 9.1.4 The Air Operator undertakes to assist the Buyers Buyer or an independent, qualified and mutually approved a third-party auditor in such inspections and to submit any necessary documentation. 9.1.5 The compensation paid may not exceed the amount required to cover the net costs incurred in discharging each public service obligation, taking into account the revenue gained therefrom by the Air Operator and a reasonable profit (Regulation (EC) No 1008/2008, Article 17(8)), as well as the Operating Compensation presented by the Supplier in its offer. The reasonability of the Operating Compensation paid is assessed by the Parties. 9.1.6 The Air Operator shall submit its public financial statements to the Buyers Buyer within two (2) months of them being confirmed.