Common use of Cost Allowability Clause in Contracts

Cost Allowability. Except as set forth on Schedule 5.10, all Company costs (both direct and/or indirect) that have been, prior to Closing, charged to any Government Contract shall be allowable in accordance with applicable cost accounting standards. All costs (both direct and/or indirect) to be charged to Company by Seller or any of its Affiliates pursuant to any existing subcontract agreements shall be allowable in accordance with applicable cost accounting standards.