Audit of Cost Records. Not more frequently than once with respect to any year in which BMSLC has elected to adjust its price under Section 3.1.2, WC shall have the right to have a "Big Five" accounting firm audit, within [REDACTED] of such price adjustment, BMSLC's books and records relating to the manufacture of the Products, for the sole purpose of verifying BMSLC's determination of the change in costs underlying such price adjustment. Such audit shall be at WC's expense (which shall include reimbursement to BMSLC for the administrative costs it incurs in connection with the review), at reasonable times during normal business hours and upon reasonable notice to BMSLC. A copy of the auditing entity's conclusions of its audit shall be furnished to BMSLC at least ten (10) days prior to disclosure to WC to allow BMSLC an opportunity to review the accuracy of the auditing firm's conclusions prior to disclosure to WC. WC shall bear the full cost of such audit unless such audit discloses a variance of more than [REDACTED] from the amount due, in which event, BMSLC shall bear the full cost of such audit. Any amounts that are determined to be due and owing by BMSLC to WC following such audit shall be paid within thirty (30) business days thereafter, together with any interest due thereon from the date of overpayment by WC at the rate of [REDACTED] per annum; provided that in no event shall such rate exceed the maximum legal annual interest rate. The payment of such interest shall not limit WC from exercising any other rights it may have as a consequence of the lateness of any payment.
Audit of Cost Records. Subcontractor shall provide detailed supporting documentation to BP’s satisfaction if requested by BP (or Owner) to evaluate Subcontractor’s calculation for a change order. Refusal to provide proper documentation by Subcontractor shall cause a dispute to be decided against Subcontractor.
Audit of Cost Records. Subcontractor shall provide detailed supporting documentation to Contractor’s satisfaction if requested by Contractor (or Owner) to evaluate Subcontractor’s calculation for a change order. Refusal to provide proper documentation by Subcontractor shall cause a dispute to be decided against Subcontractor.
Audit of Cost Records. DURA shall not be entitled to audit BMS' cost records for a given Product, unless BMS has elected to adjust its price for a Product in accordance with Section 3.1 above for a given year based on the change in BMS' actual variable costs for the preceding year. In such event, DURA shall have the right to audit (not more frequently than once with respect to any given year for which BMS has so elected to adjust its price), at its expense (which shall include reimbursement to BMS for the administrative costs it incurs in connection with the review) at reasonable times during normal business hours and upon reasonable notice, to have a "Big Five" accounting firm review BMS' books and records relating to the manufacture of the applicable Product(s), for the sole purpose of verifying BMS' determination of its change in variable costs for the year in question under Section 3.1.2. Such accounting firm shall sign an appropriate confidentiality agreement reasonably acceptable to BMS, and shall not disclose to DURA the individual cost records or figures or any information that would result in a disclosure of information relating to Manufacturing Know-how, but shall be entitled to disclose to DURA's its conclusion as a result of its audit and, if necessary, disclose its work records to DURA to the extent necessary to assist DURA in enforcing its rights under this Agreement. A copy of the auditing entity's conclusions of its audit shall be furnished to BMS at least ten (10) days prior to disclosure to DURA so that BMS may determine if any BMS Confidential Information pertaining to its Manufacturing Know-how would be disclosed thereby and to allow BMS an opportunity to review the accuracy of the auditing firm's conclusions prior to disclosure to DURA. DURA shall bear the full cost of such audit unless such audit discloses a variance of more than five percent (5%) from the amount due, in which event, BMS shall bear the full cost of such audit. Any amounts that are determined to be due and owing by BMS to DURA or by DURA to BMS following such audit shall be paid within ten (10) business days thereafter, together with any interest due thereon from the date of overpayment by DURA at the rate of twelve percent (12%) per annum; PROVIDED, that in no event shall such rate exceed the maximum legal annual interest rate. The payment of such interest shall not limit a Party from exercising any other rights it may have as a consequence of the lateness of any payment.
Audit of Cost Records. 11 ARTICLE IV
