Audit of Financial Model Clause Samples
The 'Audit of Financial Model' clause establishes the right for one party to review and verify the accuracy and integrity of a financial model used in a transaction or project. Typically, this involves granting access to the underlying data, assumptions, and calculations that form the basis of the model, and may allow for the appointment of independent auditors to conduct the review. This clause ensures transparency and accuracy in financial projections, helping to identify errors or misrepresentations and thereby reducing financial risk for the parties involved.
Audit of Financial Model. Prior to implementing any adjustments to the Service Payments contemplated in Section 10.3, the Authority may, at its own expense, review and audit the revised Financial Model prepared by Project Co and Project Co will provide such information as is reasonably required by the Authority to conduct such audit.
Audit of Financial Model.
(a) (i) Within 30 Days after any change to the Financial Model Formulas as a result of a proposed Base Case Financial Model Update pursuant to Section 6.02(b)(ii) through (vi), the Developer will deliver to the Department an audit report and opinion of the Financial Model Auditor to the effect that the Financial Model Formulas reflect the terms of this Agreement and are suitable for use herein in connection with Compensation Events, Delay Events, the impact of the execution and delivery of proposed TIFIA Loan Documentation, and early termination procedures, and covering such other matters as may be reasonably requested by the Department, all in form and substance acceptable to the Department. With respect to any change to Financial Model Formulas as a result of a proposed Base Case Financial Model Update due to a proposed Refinancing, such audit report and opinion will be delivered to the Department no later than seven Days prior to the proposed date of a Refinancing.
(b) Copies of the audit reports and opinions delivered by the Financial Model Auditor will be addressed to the Department, and the Department will be expressly identified therein as an entity entitled to rely upon such audit.
(c) The Developer will pay the fees and expenses of the Financial Model Auditor.
Audit of Financial Model. (a) (i) Within 30 Days after any change to the Financial Model Formulas as a result of a proposed Base Case Financial Model Update pursuant to Section 6.02(b)(ii) through (viii), or (ii) within 10 Days after any change to the Financial Model Formulas as a result of adjustments made pursuant to Section 6.03, the Concessionaire will deliver to the Department an audit report and opinion of the Financial Model Auditor to the effect that the Financial Model Formulas reflect the terms of this Agreement and are suitable for use in this Agreement in connection with Compensation Events, Delay Events, the impact of the execution and delivery of proposed Original TIFIA Loan Documentation, and early termination procedures, and covering such other matters as may be reasonably requested by the Department, all in form and substance acceptable to the Department. With respect to any change to Financial Model Formulas as a result of a proposed Base Case Financial Model Update due to a proposed Refinancing or upon the execution and delivery of Original TIFIA Loan Documentation, such audit report and opinion will be delivered to the Department no later than seven Days prior to the proposed date of a Refinancing.
(b) Copies of the audit reports and opinions delivered by the Financial Model Auditor will be addressed to the Department, and the Department will be expressly identified therein as an entity entitled to rely upon such audit.
(c) The Concessionaire will pay the fees and expenses of the Financial Model Auditor.
Audit of Financial Model. Prior to implementing any adjustments to the Availability Payments contemplated in Section 10.3 [Adjustments to Availability Payments], BC Hydro may, at its own expense, review and audit the revised Financial Model prepared by Project Co and Project Co will provide such information as is reasonably required by BC Hydro to conduct such audit.
Audit of Financial Model. Prior to implementing any adjustments to the Monthly Payment contemplated in Section 10.3, PUC may, at its own expense, review and audit the revised Financial Model prepared by Project Co and Project Co will provide such information as is reasonably required by PUC to conduct such audit.
Audit of Financial Model. Prior to implementing any adjustments to the Service Payments contemplated in Section 10.3 [Adjustments to Service Payments], the Province may, at its own expense, review and audit the revised Financial Model prepared by Project Co and Project Co will provide such information as is reasonably required by the Province to conduct such audit.
Audit of Financial Model. (a) After any change to the Financial Model Formulas as a result of a proposed Financial Model Update pursuant to Section 6.02(b)(ii) through Section 6.02(b)(v), the Developer will deliver to the LA DOTD with such proposed Financial Model Update an audit report and opinion of the Financial Model Auditor to the effect that the Financial Model Formulas reflect the terms of this Agreement and are suitable for use herein, all in form and substance reasonably acceptable to the LA DOTD. With respect to any change to Financial Model Formulas as a result of a proposed Financial Model Update due to a proposed Refinancing, such audit report and opinion will be delivered to the LA DOTD no later than five days prior to the proposed date of a Refinancing.
(b) The Developer will provide the LA DOTD copies of the audit reports and opinions delivered by the Financial Model Auditor.
(c) The Developer will pay the fees and expenses of the Financial Model Auditor.