Performance of Audit Sample Clauses
The 'Performance of Audit' clause defines the obligations and procedures for conducting an audit within the context of an agreement. It typically outlines the rights of one party to review and examine the records, operations, or financial statements of the other party to ensure compliance with contractual terms. For example, it may specify the notice period required before an audit, the scope of documents accessible, and any limitations on frequency or timing. The core function of this clause is to provide transparency and accountability, enabling parties to verify adherence to the agreement and address any discrepancies or non-compliance.
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Performance of Audit. Subject to the provisions of Section 4.2 (which shall apply, exclusively, to the subject matter thereof), each Party will be entitled, at its own expense and in connection with the Collaboration, to Audit any facility, quality systems, books, records and regulatory documentation of the other Party related to the other Party’s activities hereunder, during the Term and, in the case of such books, records and documentation, thereafter for the respective time periods described in Section 11.1(a). This right of Audit will also accrue to such Party’s representatives designated to inspect on its behalf or in cooperation with such Party, provided that such representatives agree in writing to be bound by the same confidentiality requirements that apply to the auditing Party under this Agreement. Such Audits will be for the purpose of quality assurance and control and confirming the audited Party’s compliance with applicable Laws and its obligations under this Agreement and exercising any privileges under this Agreement. Upon reasonable prior notice, each Party will provide the other Party and its designated representatives with reasonable access to such Party’s facilities and documentation during normal business hours for the purpose of conducting such Audit. [*] Certain confidential information contained in this document, marked with an asterisk in brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.
Performance of Audit. Within ten (10) days of the execution of this Agreement, Purchaser shall arrange for the Independent Registered Public Accounting Firm to perform an audit of the financial statements of Seller for the three (3) year period prior to the signing of this Agreement. The fees of such firm shall be payable by Purchaser. However, if the Independent Registered Public Accounting Firm is not able to complete such audit as a result of the actions or inactions of Seller by August 31, 2007 or such other date as to which the parties mutually agree, Seller shall reimburse Purchaser for such fees by wire transfer within ten (10) days of the termination of this Agreement. Seller shall cooperate with such audit. For the avoidance of doubt, if the Independent Registered Public Accounting Firm is able to complete its audit but renders a qualified opinion as a result thereof, Seller shall have no reimbursement obligation under this clause.
Performance of Audit. Within ten (10) days of the execution of this Agreement, Purchaser shall arrange for an Independent Accounting Firm acceptable to Parent and Purchaser to perform an audit of the financial statements of Seller for the two (2) fiscal year periods ending immediately prior to the signing of this Agreement. The fees of such firm shall be payable by Purchaser. Seller and Seller’s Affiliates shall cooperate in all respects with such audit.
Performance of Audit. 20.2.1 During the Term and for 12 months after termination or expiry of this Agreement, the Contractor must, within 5 Business Days of receiving notice from the University, allow the University and its representatives to access the Contractor's premises, facilities, systems and any information or documentation in the Contractor's possession or control which is connected to the Services or this Agreement (including the Records) for the purpose of the University or its nominee performing an audit to verify the Contractor's compliance with this Agreement.
20.2.2 Access under clause 20.2.1 must be provided at no cost to the University, and the Contractor must permit the University to take copies of documentation (including Records).
Performance of Audit. THPRD or its Auditors will review and report on Design-Builder's final accounting within 30 days after Design-Builder delivers its final accounting to THPRD. THPRD will review its Auditors' findings and either (a) certify final payment or (b) notify Design-Builder in writing of the reasons for withholding a certificate as provided in Section 8.4.1.