RECORDKEEPING AND AUDIT REQUIREMENTS Sample Clauses
The RECORDKEEPING AND AUDIT REQUIREMENTS clause obligates a party to maintain accurate and complete records related to the agreement and grants the other party the right to review or audit those records. Typically, this involves keeping financial documents, transaction logs, or other relevant data for a specified period and making them available for inspection upon reasonable notice. The core function of this clause is to ensure transparency and accountability, allowing parties to verify compliance and detect errors or misconduct.
RECORDKEEPING AND AUDIT REQUIREMENTS. Lender shall have no obligation to maintain any electronic records or any documents, schedules, invoices or any other paper delivered to Lender by Borrower in connection with this Agreement or any other agreement other than as required by law. Borrower will at all times keep accurate and complete records of ▇▇▇▇▇▇▇▇'s accounts and Collateral. At Lender's request, Borrower shall deliver to Lender: (i) schedules of accounts and general intangibles; and (ii) such other information regarding the Collateral as Lender shall request. Lender, or any of its agents, shall have the right to call any telephone numbers that Borrower has provided or may provide in the future or otherwise in the Lender's possession (including any cellular or mobile telephone numbers),at intervals to be determined by Lender, and without hindrance or delay, to inspect, audit, check, and make extracts from any copies of the books, records, journals, orders, receipts, correspondence that relate to Borrower's accounts and Collateral or other transactions between the parties thereto and the general financial condition of Borrower and ▇▇▇▇▇▇ may remove any of such records temporarily for the purpose of having copies made thereof. If ▇▇▇▇▇▇▇▇ was referred to Lender for this Loan by a third party (the "Referring Party"), then Borrower consents to Lender sharing certain reasonable information about Borrower with the Referring Party for purposes of the Referring Party verifying and/or auditing loans made through such Referring Party's referrals.
RECORDKEEPING AND AUDIT REQUIREMENTS. Lender shall have no obligation to maintain any electronic records or any documents, schedules, invoices or any other paper delivered to Lender by Borrower or Guarantor in connection with this Agreement or any other document, agreement, or instrument other than as required by law. Borrower and Guarantor shall at all times keep accurate and complete records of B▇▇▇▇▇▇▇’s financial statements and accounts and the Collateral. At Lender’s request, Borrower shall deliver to Lender: (i) current, complete, and accurate financial statements and schedules of accounts and general intangibles; and (ii) such other information regarding the Collateral as Lender may request. Lender, or any of Lender’s Representatives, shall have the right to call any telephone numbers that Borrower has provided or may provide in the future or otherwise in Lender’s possession (including any cellular or mobile telephone numbers) at intervals to be determined by Lender, and without hindrance or delay, to inspect, audit, check, and make extracts from any copies of the books, records, journals, orders, receipts, correspondence that relate to Borrower’s financial statements and accounts and Collateral or other transactions between the parties thereto and the general financial condition of Borrower, and L▇▇▇▇▇ may remove any of such records temporarily for the purpose of having copies made thereof. If B▇▇▇▇▇▇▇ was referred to Lender for this Loan by a third party (the “Referring Party”), then Borrower consents to Lender sharing certain reasonable information about Borrower with the Referring Party for purposes of the Referring Party verifying and/or auditing loans made through such Referring Party’s referrals.
RECORDKEEPING AND AUDIT REQUIREMENTS