Auditing Sample Clauses

Auditing. The Managers shall at all times maintain and keep true and correct accounts and shall make the same available for inspection and auditing by the Owners at such times as may be mutually agreed. On the termination, for whatever reasons, of this Agreement, the Managers shall release to the Owners, if so requested, the originals where possible, or otherwise certified copies, of all such accounts and all documents specifically relating to the Vessel and her operation.
Auditing. Licensee and its Affiliates will permit Licensor or its representatives, at Licensor’s expense, to periodically examine books, ledgers, and records during regular business hours, at Licensee’s or its Affiliate’s place of business, on at least thirty (30) days advance notice, to the extent necessary to verify any payment or report required under the Agreement. For each Sublicensee, Licensee shall obtain such audit rights for Licensor or itself. If Licensee obtains such audit rights for itself, it will promptly conduct an audit of the Sublicensee’s records upon Licensor’s request, and Licensee will furnish to Licensor a copy of the findings from such audit. No more than one audit of Licensee, each Affiliate, and each Sublicensee shall be conducted under this Section 5.5 in any calendar year. If any amounts due Licensor have been underpaid, then Licensee shall immediately pay Licensor the amount of such underpayment plus accrued interest due in accordance with Section 5.3. If the amount of underpayment is equal to or greater than 5% of the total amount due for the records so examined, Licensee will pay the cost of such audit. Such audits may, at Licensor’s sole discretion, consist of a self-audit conducted by Licensee at Licensee’s expense and certified in writing by an authorized officer of Licensee. All information examined pursuant to this Section 5.5 shall be deemed to be the Confidential Information of the Licensee.
Auditing. Each party shall have the right at reasonable business hours to examine the books, records, and measurement documents of the other party to the extent necessary to verify the accuracy of any statement, payment, calculation, or determination made pursuant to the provisions of this Agreement for any Contract Year within two (2) Contract Years following the end of such Contract Year. If any such examination shall reveal, or if either party shall discover, any error or inaccuracy in its own or the other party's statement, payment, calculation, or determination, then proper adjustment and correction thereof shall be made as promptly as practicable thereafter, except that no adjustment or correction shall be made for an error or inaccuracy if more than two (2) Contract Years have elapsed since the end of the Contract Year in which such error or inaccuracy occurred.
Auditing. Books and records kept in accordance with Section 7.1 must be open to inspection by an accounting firm selected by The Regents at reasonable times and at a U.S. location, no more than one time in any twelve (12) month period, and solely to determine the accuracy of the royalty reports and other amounts owed pursuant to this Agreement. The Regents will bear the fees and expenses of examination but if an error in royalties of more than seven percent (7%) of the total royalties due for any year is discovered in any examination then Licensee will bear the fees and expenses of that examination and will remit such underpayment to The Regents within thirty (30) days of the examination results.
Auditing. 6.01 Licensee and Affiliates shall keep and maintain complete, accurate, and detailed books and records in paper and electronic format with respect to all products (all such books and records collectively referred to as “Necessary Records”). Necessary Records include, but are not limited to, all books and records related to: (i) the organization chart showing the relationship of Licensee with all Affiliates; and (ii) all purchases, stocks, deliveries, Manufacture, and Sale of all products, as well as technical specifications of all products. Necessary Records pertaining to a particular royalty reporting period, including Necessary Records relating to the Manufacture, use, import, offer for Sale, Sale, or other disposition of any products prior to the Effective Date, shall be maintained for five (5) years from the date on which a royalty is paid or should have been paid, whichever is later.
Auditing. 13.1 Cost statements are subject to verification even after the Center has reimbursed costs. The Center and each financing party have the right, pursuant to the STCU agreement and STCU statute, to carry out on-site audits of all activities of the project. The participating institutions will be given not less than 20 days notice of any intended audit. For the purposes of the audit, the participating institutions shall make accessible all portions of facilities, equipment, documentation, information, data systems, materials, supplies, personnel, and services related to the project.