Common use of Audit Rights of Omega Clause in Contracts

Audit Rights of Omega. Upon not less than thirty (30) days’ advance notice (which notice shall include the scope of such review), if Omega, acting reasonably, has identified an issue relating to the use of Data, including the verification or distribution of Data by Data Recipient, from time to time during the term of this Agreement and for a period of twenty four (24) months following the termination of this Agreement (but no more frequently than once in any twelve (12) month period), Omega may cause to be reviewed, by its employees and/or a firm of chartered professional accountants chosen by Omega (which firm of chartered professional accountants may be the accountants or auditors of Omega), the books and records of Data Recipient, including: (i) Data Recipient’s records relating to Data; (ii) Data Recipient’s reports and payments relating to Data; and (iii) Data Recipient’s System and Data Recipient’s services to its Subscribers and/or Service Facilitators to verify compliance by Data Recipient of the terms of this Agreement; provided that any such review shall be subject to the terms of ARTICLE 7 hereof. Any such audit will be conducted at mutually agreed upon times and will be subject to Data Recipient’s reasonable standard security procedures.