Common use of Inspection, Audit and Adjustment Clause in Contracts

Inspection, Audit and Adjustment. The WPCA shall have the right to perform or commission an inspection or an independent audit of the financial information required to be kept under this Section, subject to possible reimbursement as provided in this Section. If an inspection or audit reveals that the WPCA has overpaid the Monthly Service Fee or other amounts payable by the WPCA hereunder, then the Company shall, at the election of the WPCA, either immediately reimburse to the WPCA or offset against future Monthly Service Fee payments, as a Service Fee adjustment, the overpaid amount, in addition to interest, from the time such amount was initially overpaid until reimbursed or credited to the WPCA, at the Prime Rate. If an inspection or audit contemplated by this Section discloses an overpayment of the Service Fee to the Company of 1% or more of the total amount that should have been properly paid by the WPCA during the period audited, then the Company shall, in addition to the reimbursement or credit of such overstated amount, with interest, reimburse the WPCA for any and all Fees and Costs incurred in connection with the inspection or audit. The foregoing remedies shall be in addition to any other remedies the WPCA may have, including remedies for an Event of Default by the Company.

Inspection, Audit and Adjustment. The WPCA BWS shall have the right to perform or commission an inspection or an independent audit of the financial information required to be kept under this SectionSection in accordance with Section ▇-▇▇▇-▇▇▇, HAR, subject to possible reimbursement as provided in this Sectionsubsection. If an inspection or audit reveals that the WPCA DBOM Contractor has overpaid the Monthly Service Fee or other amounts payable by the WPCA hereunderoverstated any amount subject to Cost Substantiation, then the Company DBOM Contractor shall, at the election of the WPCABWS, either immediately reimburse to the WPCA BWS or offset against future Monthly Fixed Design-Build Price or Service Fee payments, as a Service Fee adjustment, payments the overpaid overstated amount, in addition to interest, from the time such amount was initially overpaid until reimbursed or credited to the WPCABWS, at the Prime Overdue Rate. If an inspection or audit contemplated by this Section discloses an overpayment of the Service Fee to the Company of 1% or more of the total amount that should have been properly paid by the WPCA BWS during the period audited, then the Company DBOM Contractor shall, in addition to the reimbursement or credit of such overstated overpaid amount, with interestinterest (at the Overdue Rate), reimburse the WPCA BWS for any and all Fees fees and Costs costs incurred in connection with the inspection or audit. The foregoing remedies shall be in addition to any other remedies the WPCA BWS may have, including remedies for an Event of Default by the CompanyDBOM Contractor.