Failure to Maintain Records Clause Samples

The 'Failure to Maintain Records' clause defines the obligations and consequences related to a party's duty to keep accurate and complete records as required by the agreement. Typically, this clause specifies what types of records must be maintained, such as financial documents, transaction logs, or compliance reports, and may outline the standards or duration for recordkeeping. If a party fails to uphold these requirements, the clause often details the remedies available to the other party, such as the right to audit, seek damages, or terminate the agreement. Its core function is to ensure accountability and transparency, reducing the risk of disputes or non-compliance by establishing clear recordkeeping expectations.
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Failure to Maintain Records. LICENSEE acknowledges that its failure to maintain the appropriate and accurate books of accounts and records required hereunder will constitute a material breach of its obligations and will cause substantial damage to GUESS. GUESS may, therefore, in addition to exercising any other rights hereunder, charge LICENSEE a fee of the greater of (a) *, or (b) * of the Trademark Royalty for the applicable Contract Year; upon LICENSEE's breach of its obligations under this Section 13. LICENSEE shall pay such fee within five (5) days of demand by GUESS. GUESS may also charge such fee against the letter of credit described in Section 13.2.
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Failure to Maintain Records. Failure to adequately maintain fiscal records, including census records, medical charts, ledgers, journals, tax returns, canceled checks, source documents, invoices, and audit reports by or for a facility may result in the penalties specified in subrule 54.8(1).
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Failure to Maintain Records. Tenant shall use commercially reasonable efforts to keep, or cause to be kept, each Tenant Record for a period of seven (7) years after the date the Tenant Record was created and to make each Tenant Record available for inspection by Landlord in accordance with the terms hereof. After the seven (7) year period has expired for a certain Tenant Record, Tenant shall deliver the original Tenant Record to Landlord at the address set forth in Section 1.11 or such other location designated by Landlord in writing, which may include the main offices of the City; provided, however, Tenant may elect to deliver all of the Tenant Records that expire in a given Lease Year at one time, in one delivery, within twelve (12) months after the end of the applicable Lease Year. Landlord may request that Tenant implement any additional accounting methods or controls that Landlord reasonably deems necessary, subject to prior written notice to Tenant. If Landlord does so, then Tenant will in good faith consider implementing such additional accounting methods or controls, as applicable, but Tenant may, in consultation with the Hotel Operator, elect in its reasonable discretion not to implement such additional accounting methods and controls. In the event the Tenant does not make available to Landlord the original Tenant Records, including in electronic form, within San Diego County, then ▇▇▇▇▇▇ agrees to pay all reasonable travel and other expenses incurred by Landlord Parties in conducting an audit at the location where the Tenant Records are kept.
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Failure to Maintain Records. It is the Employer’s obligation to maintain adequate, reliable, and contemporaneous records sufficient to determine the benefits due or which may become due to its employees, which shall include, but not be limited to, the records referenced in Section 12 of this Article. In the event that an Employer fails to maintain adequate, reliable, and contemporaneous records establishing the amount of hours worked by employees who are paid on an hourly basis, then the Employer hereby agrees that all hours worked which the employee received pay or was entitled to receive pay from the employer, including but not limited to sick time, vacation, personal leave, leave of absence or any other compensatory time, shall be considered hours worked for which contributions are due to the Fund. At the Fund’s discretion, the Fund may calculate the hours worked by an hourly employee by dividing the total pay received by the employee during the applicable audit period by the journeyman wage rate set forth in the applicable collective bargaining agreement. The Fund’s calculation of amounts due under the above-described methodology shall be deemed conclusive and binding on the Employer. Notwithstanding the foregoing, an Employer shall not be required to maintain records of actual hours worked by its employees who are paid a salary and are exempt from overtime under applicable federal and state laws; provided that, each such salaried exempt employee shall be deemed to work forty
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Failure to Maintain Records. LICENSEE acknowledges that its failure to maintain the books of accounts and records required hereunder in a manner which fairly presents the financial operations of LICENSEE, will constitute a material breach of its obligations and will cause substantial damage to GUESS. GUESS may, therefore, in addition to exercising any other rights hereunder, charge LICENSEE a fee of the greater of (a) US$CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, or (b) CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION percent (CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION%) of the Trademark Royalty for the applicable Contract Year; upon LICENSEE's breach of its obligations under this Section 14. LICENSEE shall pay such fee within five (5) days of demand by GUESS. GUESS may also charge such fee against the letter of credit described in Section 13.2.
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Failure to Maintain Records. Tenant shall use commercially reasonable efforts to keep, or cause to be kept, each Tenant Record for a period of seven (7) years after the date the Tenant Record was created and to make each Tenant Record available for inspection by Landlord in accordance with the terms hereof. After the seven (7) year period has expired for a certain Tenant Record, Tenant shall deliver the original Tenant Record to Landlord at the address set forth in Section 1.11 or such other location designated by Landlord in writing, which may include the main offices of the City; provided, however, Tenant may elect to deliver all of the Tenant Records that expire in a given Lease Year at one time, in one delivery, within twelve
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Failure to Maintain Records. In addition to any other remedies available to COUNTY at law or in 8 equity or under this Lease, in the event TENANT fails to maintain and keep books, records, and accounts for the Premises and/or source documents relating thereto, or to make the same 9 available to COUNTY for examination and audit, or to record sales and/or to maintain registers to record sales, or to provide financial statements and other information to COUNTY regarding gross 10 receipts as required by this Lease, COUNTY, at COUNTY’s option, may: 11 1. Perform such examinations, audit, and/or investigations itself or through agents or employees as COUNTY and/or its auditors may deem appropriate to confirm the amount 12 of percentage rents payable by TENANT under this Lease, and any and all costs and/or expenses incurred by COUNTY in connection therewith shall be promptly reimbursed to 13 COUNTY by TENANT upon demand. 14 2. Provide accounting services and/or a system for recording retail sales and charges, including without limitation cash registers, for use by TENANT in business transactions 15 upon or from the Premises, and, at COUNTY’s option, maintain personnel on the Premises to observe and/or record such sales during TENANT’s business hours, or from time to 16 time, all at TENANT’s sole cost and expense. In such event, TENANT shall promptly reimburse COUNTY for any and all costs incurred by COUNTY in connection therewith. 18 of TENANT’s gross receipts from business operations conducted on or from the Premises and any such determination made by COUNTY shall be conclusive and binding upon
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Failure to Maintain Records. Paragraphs 1 through 38, above, are incorporated by reference as if fully set forth herein.
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Failure to Maintain Records. The allegations in the preceding paragraphs are incorporated by reference.
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Related to Failure to Maintain Records

  • Failure to Maintain If the Tenant fails to obtain and maintain Renters Insurance as required under this Agreement, it shall be considered a violation and result in default of this Agreement.

  • Failure to Maintain Coverage Failure by the Contractor to maintain the required insurance, or to provide evidence of insurance coverage acceptable to the County, shall constitute a material breach of the Contract upon which the County may immediately terminate or suspend this Contract. The County, at its sole option, may obtain damages from the Contractor resulting from said breach. Alternatively, the County may purchase such required insurance coverage, and without further notice to the Contractor, the County may deduct from sums due to the Contractor any premium costs advanced by the County for such insurance.

  • Failure to Maintain Financial Viability The System Agency may terminate the Grant Agreement if the System Agency, in its sole discretion, determines that Grantee no longer maintains the financial viability required to complete the services and deliverables, or otherwise fully perform its responsibilities under the Grant Agreement.

  • Failure to Maintain Insurance Failure on the part of the Consultant to maintain the insurance as required shall constitute a material breach of agreement, upon which the City may, after giving five business days’ notice to the Consultant to correct the breach, immediately terminate the agreement or, at its discretion, procure or renew such insurance and pay any and all premiums in connection therewith, with any sums so expended to be repaid to the City on demand, or at the sole discretion of the City, offset against funds due the Consultant from the City.