Acceptable records Clause Samples

The "Acceptable records" clause defines the standards and types of documentation that are considered valid and sufficient for evidencing compliance, performance, or fulfillment of obligations under an agreement. Typically, this clause specifies what forms of records—such as invoices, receipts, logs, or digital files—are recognized, and may outline requirements for their accuracy, format, and retention period. By clearly establishing what constitutes acceptable records, the clause helps prevent disputes over documentation, ensures transparency, and facilitates efficient verification or audit processes.
Acceptable records. (1) Evidence of purchases of gasoline, and the purposes for which it was used, to substantiate claims may include paid duplicate sales invoices or tickets from the gaso- line dealer or other vendor, and de- tailed records of all fuel used which show the amount consumed on a farm for farming purposes and the amount used for other purposes. (2) Records maintained for Federal or State income tax purposes, or to sup- port claims for refund of a State tax on gasoline, may be used to the extent that they contain the information nec- ▇▇▇▇▇▇ to substantiate the accuracy of the claim for credit under section 6420. However, the records must show sepa- rately the number of gallons of gaso- line used on a farm for farming pur- poses. (3) If trucks or other vehicles are used both on and off the farm, an allo- cation of gasoline used in the vehicle will be required to show separately the number of gallons of gasoline used on a farm for farming purposes in respect of which the claim is made. (4) If the owner, tenant, or operator is entitled under section 6420(c)(4)(A) to claim credit or payment in respect of gasoline used on the person’s farm by another person other than an owner, tenant, or operator of the farm for a purpose described in section
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Related to Acceptable records

  • Electronic Chattel Paper and Transferable Records If any Grantor at any time holds or acquires an interest in any Electronic Chattel Paper or any “transferable record”, as that term is defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act, or in Section 16 of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, such Grantor shall promptly notify the Collateral Agent thereof and, at the request of the Collateral Agent, shall take such action as the Collateral Agent may request to vest in the Collateral Agent control under New York UCC Section 9-105 of such Electronic Chattel Paper or control under Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, Section 16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Collateral Agent agrees with such Grantor that the Collateral Agent will arrange, pursuant to procedures satisfactory to the Collateral Agent and so long as such procedures will not result in the Collateral Agent’s loss of control, for the Grantor to make alterations to the Electronic Chattel Paper or transferable record permitted under UCC Section 9-105 or, as the case may be, Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or Section 16 of the Uniform Electronic Transactions Act for a party in control to allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Grantor with respect to such Electronic Chattel Paper or transferable record.

  • Time Records The employer will keep a record for a continuous period of seven (7) years from which can be readily ascertained the following:

  • Required Records The Company will maintain at its principal place of business such books, records and other materials as are reasonably necessary to document and account for its activities, including, without limitation, those required to be maintained by the Act.

  • Account Records Permanent Mortgage Loan account records must be maintained by the Servicer for each Mortgage Loan. Each account record must be identifiable by the Servicer Loan Number.

  • Records; Audit Rights ▇▇▇▇▇▇ shall keep and maintain for [*****] years complete and accurate records of Development Costs incurred with respect to Co-Developed Products in sufficient detail to allow confirmation of same by Enanta. Enanta shall have the right for a period of [*****] years after such Development Cost is reconciled in accordance with Section 5.2 to inspect or audit, or to appoint, at its expense, an independent certified public accountant reasonably acceptable to ▇▇▇▇▇▇ to inspect or audit, the relevant records of ▇▇▇▇▇▇ and its Affiliates to verify that the amount of such Development Costs was correctly determined. ▇▇▇▇▇▇ and its Affiliates shall each make its records available for inspection or audit by such independent certified public accountant during regular business hours at such place or places where such records are customarily kept, upon reasonable notice from Enanta, solely to verify that Development Costs hereunder were correctly determined; provided that Enanta shall not have the right to inspect or audit any Calendar Year more than [*****] or more than [*****] years after the end of such Calendar Year or to conduct more than [*****] such audit in any [*****] month period. All records made available for inspection or audit shall be deemed to be Confidential Information of ▇▇▇▇▇▇. The results of each inspection or audit, if any, shall be binding on both Parties. In the event there was an error in the amount of Development Costs reported by ▇▇▇▇▇▇ hereunder, (a) if the amount of Development Costs was over-reported, ▇▇▇▇▇▇ shall promptly (but in any event no later than [*****] days after ▇▇▇▇▇▇’▇ receipt of the independent accountant’s report so concluding) make payment to Enanta of the over-reported amount and (b) if the amount of Development Costs was underreported, Enanta shall promptly (but in any event no later than [*****] days after Enanta’s receipt of the independent accountant’s report so concluding) make payment to ▇▇▇▇▇▇ of the underreported amount. Enanta shall bear the full cost of such audit unless such audit discloses an over-reporting by ▇▇▇▇▇▇ of more than [*****] of the aggregate amount of Development Costs reportable in any Calendar Year, in which case ▇▇▇▇▇▇ shall reimburse Enanta for all costs incurred by Enanta in connection with such inspection or audit.