Common use of Cost Review Clause in Contracts

Cost Review. On April 15, 1999, the parties shall review the actual costs incurred by them individually and jointly for operation during the previous six (6) months, with a view to adjusting the above the formulas to reflect the actual costs incurred while maintaining the margin objectives of the parties. ILSI and FMN each commit to working to reduce costs throughout the loan process and sharing cost-saving data with each other. ILSI shall have access to FMN's books and records to determine what cost savings, if any, have been achieved; ILSI may appoint, at its expense, an auditor to review the books and records of FMN to the extent they relate to ILSI. Initial cost-reduction projects are set forth on Appendix B attached hereto.