Accurate Books and Records Clause Samples
The Accurate Books and Records clause requires a party, typically a business or service provider, to maintain complete, truthful, and up-to-date financial and operational records. This means all transactions, receipts, and relevant documentation must be recorded in a manner that accurately reflects the true nature of the business activities. By mandating precise recordkeeping, this clause helps ensure transparency, facilitates audits or inspections, and reduces the risk of fraud or misrepresentation.
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Accurate Books and Records. During the Term of this Agreement, Franchisee shall maintain and preserve, for at least three (3) years from the dates of their preparation, full, complete and accurate books, records and accounts in accordance with generally accepted accounting principles and in the form and the manner prescribed by Franchisor from time-to-time in the Confidential Operating Standards Manual or otherwise in writing. These records shall include, without limitation, cash register sales tape (including non- resettable readings), meals, sales and other tax returns, duplicate deposit slips and other evidence of Gross Sales and all other business transactions.
Accurate Books and Records. The Company (i) makes and keeps accurate books and records and (ii) maintains internal accounting controls which provide reasonable assurance that (A) transactions are executed in accordance with management’s authorization, (B) transactions are recorded as necessary to permit preparation of its financial statements and to maintain accountability for its assets, (C) access to its assets is permitted only in accordance with management’s authorization and (D) the reported accountability for its assets is compared with existing assets at reasonable intervals.
Accurate Books and Records. Pharvaris shall keep complete and accurate books and records reflecting all relevant Net Sales and their calculation basis, including Net Sales and their calculation basis made by Sublicensees, for all Direct Sales and Indirect Sales to enable the royalties payable under this Agreement to be determined and reviewed.
Accurate Books and Records. The Company agrees to keep accurate books of account and records at its principal place of business covering all transactions relating to the consulting fee granted herein and pertaining to the items required to be shown in the Company's Weekly Sales Statements to be submitted pursuant hereto, including without limitation, invoices, correspondence, banking, financial, and other records. Consultant and its duly authorized representatives shall have the right, upon five (5) days' written notice, during normal business hours, to audit the Company's books of account and records, and all other documents and material in the possession or under the control of the Company, with respect to the subject matter and the terms of this Agreement and to make copies and extracts thereof. In the event that any such audit reveals an underpayment by the Company, the Company shall within thirty (30) days' written notice remit payment to Consultant in the amount of such underpayment, plus interest calculated at the rate of five percent (5%) per annum, from the date such payment(s) were actually due until the date such payment is actually made. In the event that any such underpayment is greater than Ten Thousand Dollars ($10,000), the Company shall reimburse Consultant for the costs and expenses of such audit. In the event such audit shall reveal a mistake resulting in an overpayment in any consulting fee payment, the Company shall be allowed to offset such amount in the next Weekly Sales Statement(s) and payment(s) made to Consultant.
Accurate Books and Records. Borrower has notified Bank in writing of, and will notify Bank in writing prior to any change in, the locations of (i) Borrower's place of business or Borrower's chief executive office if Borrower has more than one place of business, and (ii) any Collateral, including the Books and Records.
Accurate Books and Records. The Company and its Subsidiaries make and keep materially accurate books and records reflecting their respective assets and maintain internal accounting controls which provide reasonable assurance that (a) transactions are executed with management's authorization; (b) transactions are recorded as necessary to permit preparation of the Company's consolidated financial statements and to maintain accountability for the assets of the Company and its Subsidiaries; (c) access to the assets of the Company and its Subsidiaries is permitted only in accordance with management's authorization; and (d) the reported accountability of the assets of the Company and its Subsidiaries is compared with existing assets at reasonable intervals.
Accurate Books and Records. Seller will maintain complete and accurate books and records in accordance with generally accepted accounting principles in Seller’s jurisdiction, consistently applied, properly and accurately recording all payments made by Seller or Seller’s Agents in performance of this Agreement or related to it, and any commission, compensation, reimbursement, or other payment made by or on behalf of Buyer to Seller or Seller’s Agents. Seller will maintain a system of internal accounting controls reasonably designed to ensure that it maintains no off-the-book accounts and that its assets are used only in accordance with its management directives. All Books and Records shall be available for inspection, copying, and audit by Buyer or its designee during Seller’s normal business hours on reasonable notice throughout the Term and for three (3) years thereafter for the purpose of verifying Seller’s compliance with the terms hereof. Buyer shall bear and pay for the cost of any such audit of Seller’s Books and Records unless such audit discloses errors in excess of five percent (5%) in favor of Buyer, in which case the cost of the audit shall be borne by Seller.
Accurate Books and Records. The Parties will not make or permit any off-the-books accounts, inadequately identified transactions, recording of non-existent expenditures, entry of liabilities with incorrect identification of their object, or the use of false documents in connection with performing on this Agreement. The Parties will keep books, accounts, and records that, in reasonable detail, accurately and fairly reflect its transactions and dispositions of funds paid under this Agreement.
Accurate Books and Records. ARAMARK shall maintain accurate books and records in connection with the Campus Food Service Program and shall retain such records for a period of two (2) years.
Accurate Books and Records. Consultant will not make any payment behalf of or for the benefit of Company that is not properly and accurately recorded in Consultant’s books and records.