Common use of Audited accounts Clause in Contracts

Audited accounts. 26.1.1. The SPD shall maintain books of accounts recording all its receipts (including all revenues derived/collected by it from or on account of the Solar Rooftop Power System and/or its use), income, expenditure, payments (including payments from the Escrow Account), assets and liabilities, in accordance with this Agreement, Good Industry Practice, Applicable Laws and Applicable Permits. The SPD shall provide 2 (two) copies of its Balance Sheet, Cash Flow Statement and Profit and Loss Account, along with a report thereon by its Statutory Auditors, within 90 (ninety) days of the close of the Accounting Year to which they pertain and such audited accounts, save and except where expressly provided to the contrary, shall form the basis of payments by either Party under this Agreement. Railways shall have the right to inspect the records of the SPD during office hours and require copies of relevant extracts of books of accounts, duly certified by the Statutory Auditors, to be provided to Railways for verification of basis of payments, and in the event of any discrepancy or error being found, the same shall be rectified and such rectified account shall form the basis of payments by either Party under this Agreement.

Audited accounts. 26.1.1. The SPD shall maintain books of accounts recording all its receipts (including all revenues derived/collected by it from or on account of the Solar Rooftop Power System and/or its use), income, expenditure, payments (including payments from the Escrow Account), assets and liabilities, in accordance with this Agreement, Good Industry Practice, Applicable Laws and Applicable Permits. The SPD shall provide 2 (two) copies of its Balance Sheet, Cash Flow Statement and Profit and Loss Account, along with a report thereon by its Statutory Auditors, within 90 (ninety) days of the close of the Accounting Year to which they pertain and such audited accounts, save and except where expressly provided to the contrary, shall form the basis of payments by either Party under this Agreement. Railways shall have the right to inspect the records of the SPD during office hours and require copies of relevant extracts of books of accounts, duly certified by the Statutory Auditors, to be provided to Railways for verification of basis of payments, and in the event of any discrepancy or error being found, the same shall be rectified and such rectified account shall form the basis of payments by either Party under this Agreement.