BMR Ore and Audit and Reconciliation Sample Clauses

BMR Ore and Audit and Reconciliation. (1) Within 60 days following the expiry of a Quarter in which BMR Ore has been delivered to ESI, BMR must provide ESI with an itemized statement of BMR Allowable Expenses incurred during that Quarter. The itemized statement of BMR Allowable Expenses incurred in any period will be conclusive evidence of the making of the BMR Allowable Expenses recorded in the statement unless within 90 days after delivery of that statement ("ESI Objection Period") ESI delivers a written and detailed objection to the statement to BMR. If ESI delivers such an objection, then it will be entitled to request that the auditor of ESI audit the BMR Allowable Expenses recorded in the statement of BMR Allowable Expenses that is the subject of the objection. At the conclusion of that audit if the auditor determines that the BMR Allowable Expenses was less by 5% or more of the BMR Allowable Expenses, set out in the statement, then the costs of the audit will be borne by BMR otherwise the costs of the audit will be borne by ESI and, in all events and whatever the misstatement, only the actual BMR Allowable Expenses so determined will constitute BMR Allowable Expenses for the purposes of the relevant Quarter.
Sample 1
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Related to BMR Ore and Audit and Reconciliation

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  • Records Administration and Audit a. The Contractor shall maintain books, records, documents, and other evidence pertaining to this Master Agreement and Orders placed by Purchasing Entities under it to the extent and in such detail as shall adequately reflect performance and administration of payments and fees. Contractor shall permit the Lead State, a Participating Entity, a Purchasing Entity, the federal government (including its grant awarding entities and the U.S. Comptroller General), and any other duly authorized agent of a governmental agency, to audit, inspect, examine, copy and/or transcribe Contractor's books, documents, papers and records directly pertinent to this Master Agreement or orders placed by a Purchasing Entity under it for the purpose of making audits, examinations, excerpts, and transcriptions. This right shall survive for a period of five (5) years following termination of this Agreement or final payment for any order placed by a Purchasing Entity against this Agreement, whichever is later, or such longer period as is required by the Purchasing Entity’s state statutes, to assure compliance with the terms hereof or to evaluate performance hereunder.

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