Expense of Audit Sample Clauses

Expense of Audit. The fees and expenses of the accounting firm designated by Shionogi to perform an examination pursuant to Article 7.1 shall be borne by Shionogi; provided, however, that if any audit shall show that Scios underpaid the royalties due to Shionogi under this Agreement as to the period being audited by more than three percent (3%) of the amount that was payable for such period, then Scios shall, in addition to immediately paying to Shionogi any such deficiency, immediately reimburse Shionogi for the cost of such audit.
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Expense of Audit. Any audit conducted pursuant to this Section 5.07 shall be at MSD’s expense; provided, that if the audit reveals an underpayment that exceeds the lesser of [***] and [***] of the sums correctly due to MSD, then the costs of the audit will be paid by Licensee (including any fees charged by any Third Party Auditor for the work associated with the audit).
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Expense of Audit. Any audit undertaken by a Party pursuant to this Section 7.2 shall be at auditing Party's cost and expense. In the event any such audit reveals a miscalculation, incorrect entry or other matter that has resulted in an overcharge or undercharge, the applicable Party shall promptly make a single payment to the other of an amount equal to the sum of such overcharge or undercharge, as the case may be, together with interest on the late payment, which interest shall accrue at the annual rate of LIBOR plus 1%. Notwithstanding the foregoing, if such overcharge exceeds five percent (5%) of the amount due for the period being audited, then the reasonable out-of-pocket costs and expenses incurred by the auditing Party in connection with such audit shall be reimbursed by the audited Party.
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Related to Expense of Audit

  • Scope of Audit Customer shall provide at least sixty days advance notice of any audit unless mandatory Data Protection Law or a competent data protection authority requires shorter notice. The frequency and scope of any audits shall be mutually agreed between the parties acting reasonably and in good faith. Customer audits shall be limited in time to a maximum of three business days. Beyond such restrictions, the parties will use current certifications or other audit reports to avoid or minimize repetitive audits. Customer shall provide the results of any audit to SAP.

  • SUBMISSION OF AUDIT Within 30 days after receipt of the independent certified public accountant's report or nine months after the end of the fiscal year, Grantee shall submit electronically one copy of the Single Audit or Program-Specific Audit to DFPS as directed in this Contract and another copy to: ▇▇▇▇▇▇_▇▇▇▇▇_▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇▇.

  • Right of Audit 28.1 The Contractor shall keep secure and maintain until six years after the final payment of all sums due under the Contract, or such other period as may be agreed between the Parties, full and accurate records of the Services, all expenditure reimbursed by the Authority and all payments made by the Authority. 28.2 The Contractor shall grant to the Authority, or its authorised agents, such access to those records as they may reasonably require in order to check the Contractor's compliance with the Contract. 28.3 For the purposes of the examination and certification of the Authority's accounts, or any examination under section 6(1) of the National Audit ▇▇▇ ▇▇▇▇ or annual re-enactment thereof as to the economy, efficiency and effectiveness with which the Authority has used its resources, the Comptroller and Auditor General may examine such documents as he may reasonably require which are owned, held or otherwise within the control of the Contractor and may require the Contractor to provide such oral or written explanations as he may reasonably require for those purposes. The Contractor shall give all reasonable assistance to the Comptroller and Auditor General for those purposes. 28.4 Condition 28.3 applies only in respect of documents relating to the Contract and only for the purpose of the auditing of the Authority. It does not constitute an agreement under section 6(3)(d) of the National Audit Act 1983 such as to make the Contractor the subject of auditing under that Act. 28.5 Except where an audit is imposed on the Authority by a Regulatory Body (in which case the Authority may carry out the audit required without prejudice to its other rights) the Authority may conduct an audit: a) to review the integrity, confidentiality and security of the Authority Data; b) to review the Contractor's compliance with the Data Protection ▇▇▇ ▇▇▇▇, the Freedom of Information ▇▇▇ ▇▇▇▇ in accordance with Condition 29 (Data Protection Act and Freedom of Information Act) and any other legislation applicable to the Services. 28.6 Subject to the Authority's obligations of confidentiality, the Contractor shall on demand provide the Authority (and/or its agents or representatives) with all reasonable co-operation and assistance in relation to each audit, including: a) all information requested by the Authority within the permitted scope of the audit; b) reasonable access to any Sites controlled by the Contractor and to any equipment used (whether exclusively or non-exclusively) in the performance of the Services; c) access to the Contractor‟s system; and d) access to the Contractor‟s Staff.

  • Appointment of auditors 33.2.1 The Concessionaire shall appoint, and have during the subsistence of this Agreement as its Statutory Auditors, a firm chosen by it from the mutually agreed list of 10 (ten) reputable firms of chartered accountants (the “Panel of Chartered Accountants”), such list to be prepared substantially in accordance with the criteria set forth in Schedule-T. All fees and expenses of the Statutory Auditors shall be borne by the Concessionaire. 33.2.2 The Concessionaire may terminate the appointment of its Statutory Auditors after a notice of 45 (forty five) days to the Authority, subject to the replacement Statutory Auditors being appointed from the Panel of Chartered Accountants. 33.2.3 Notwithstanding anything to the contrary contained in this Agreement, the Authority shall have the right, but not the obligation, to appoint at its cost from time to time and at anytime, another firm (the “Additional Auditors”) from the Panel of Chartered Accountants to audit and verify all those matters, expenses, costs, realisations and things which the Statutory Auditors are required to do, undertake or certify pursuant to this Agreement.

  • Scope of Authority Committee meetings will be used for communications between the parties, to share information and to address concerns. The committee will have no authority to conduct any negotiations or modify any provision of this Agreement. The committee’s activities and discussions will not be subject to the grievance procedure in Article 30.