INFORMATION; AUDITS Clause Samples
The INFORMATION; AUDITS clause grants one party the right to access and review certain records or information held by the other party, typically to verify compliance with the agreement. In practice, this may involve periodic audits of financial records, operational data, or other relevant documentation, often with advance notice and during normal business hours. The core function of this clause is to ensure transparency and accountability, allowing the auditing party to confirm that obligations are being met and to detect any discrepancies or breaches.
INFORMATION; AUDITS. (a) The Ceding Company shall provide to the Reinsurer all material information available to it relating to the AFLIAC Liabilities and PL Liabilities and, the Reinsurer agrees to keep such information confidential in accordance with Section 3.5 hereof. Notwithstanding the foregoing, the Ceding Company shall not be required to share any information with the Reinsurer to the extent that (x) the Ceding Company is subject to a confidentiality agreement with respect to such information, or (y) the Ceding Company is prohibited from sharing such information with the Reinsurer pursuant to any applicable law relating to the privacy of non-public personal information or otherwise. Failure to provide any such information, or include any claim, policy form or other information relating to the Reinsured Liabilities, shall not affect the reinsurance coverage provided for by this Agreement. The Reinsurer shall be responsible for any out-of-pocket costs, expenses and payments (including, without limitation, any fees required in seeking a waiver of confidentiality) in connection with obtaining and providing any such material information or seeking a waiver of any confidentiality pursuant to this Section 3.5(a).
(b) The Reinsurer, or its duly authorized legal, accounting, and actuarial representatives, shall have access, at reasonable times and upon reasonable notice during the term of this Agreement, to books and records maintained by the Ceding Company which pertain to the reinsurance provided under this Agreement and the employees, accountants and other relevant advisors of the Ceding Company. The Reinsurer shall bear its own expenses in connection with such access and shall promptly reimburse the Ceding Company for any out-of- pocket expenses incurred by the Ceding Company in connection with such access by the Reinsurer and its representatives.
INFORMATION; AUDITS. Retailer and Supplier will cooperate and exchange information in good faith as reasonably required to account for and verify volumes and amounts. At all times Retailer and Supplier shall maintain accurate books and records containing information regarding the transactions and calculations contemplated by this Agreement sufficient to verify compliance with this Agreement. These books and records shall be kept in accordance with GAAP. Retailer and Supplier and their agents and representatives may examine the books and records of the other party relevant to this Agreement for the purpose of verifying compliance with this Agreement. Such examination shall be during business hours and upon not less than fifteen (15) business days prior written notice. The examination shall be at the examining party’s expense. Examination cannot be performed more often than quarterly and cannot include any periods more than eighteen (18) months prior to the examination.
INFORMATION; AUDITS. The Provider agrees to provide information to the Local Authority on availability and take-up of early education and childcare to inform the analysis of Childcare Sufficiency.