{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "permitted-entity", "type": "definition", "offset": [9, 25]}, {"key": "subject-to", "type": "definition", "offset": [52, 62]}, {"key": "first-year", "type": "definition", "offset": [92, 102]}, {"key": "user-agreement", "type": "clause", "offset": [124, 138]}, {"key": "financial-institution", "type": "clause", "offset": [149, 170]}], "size": 5, "snippet": "a. Every Permitted Entity enrolled in eCBSV will be subject to an initial audit once in the first year after executing this user agreement;\nb. Every Financial Institution serviced by the Permitted Entity, if any, will be subject to an initial audit once within the first three (3) years after the Permitted Entity executes this user agreement.", "samples": [{"hash": "8MUmOZBaBeD", "uri": "/contracts/8MUmOZBaBeD#initial-audit", "label": "User Agreement", "score": 27.1857447657, "published": true}, {"hash": "iTzLpinFmHH", "uri": "/contracts/iTzLpinFmHH#initial-audit", "label": "User Agreement", "score": 24.2539356605, "published": true}, {"hash": "5ffzARY44na", "uri": "/contracts/5ffzARY44na#initial-audit", "label": "User Agreement", "score": 23.372347707, "published": true}], "hash": "a7cc3581e6183abf1ee6ac190637bb1d", "id": 1}, {"snippet_links": [{"key": "after-the-effective-date", "type": "clause", "offset": [0, 24]}, {"key": "independent-public-accountant", "type": "definition", "offset": [92, 121]}, {"key": "the-parties", "type": "definition", "offset": [129, 140]}, {"key": "by-palomar", "type": "clause", "offset": [202, 212]}, {"key": "independent-accountant", "type": "clause", "offset": [215, 237]}, {"key": "normal-business-hours", "type": "definition", "offset": [262, 283]}, {"key": "the-records", "type": "clause", "offset": [343, 354]}, {"key": "reasonably-necessary", "type": "clause", "offset": [397, 417]}, {"key": "to-verify", "type": "definition", "offset": [418, 427]}, {"key": "section-42", "type": "clause", "offset": [471, 482]}, {"key": "the-settlement-agreement", "type": "clause", "offset": [504, 528]}, {"key": "and-interest", "type": "clause", "offset": [530, 542]}, {"key": "in-the-event", "type": "clause", "offset": [574, 586]}, {"key": "additional-royalties", "type": "definition", "offset": [635, 655]}, {"key": "the-period", "type": "clause", "offset": [689, 699]}, {"key": "april-1", "type": "definition", "offset": [707, 714]}, {"key": "additional-royalty", "type": "clause", "offset": [726, 744]}, {"key": "within-thirty", "type": "clause", "offset": [759, 772]}, {"key": "written-report", "type": "definition", "offset": [852, 866]}, {"key": "with-interest", "type": "definition", "offset": [891, 904]}, {"key": "sales-of-licensed-products", "type": "clause", "offset": [1055, 1081]}, {"key": "amounts-owed", "type": "definition", "offset": [1139, 1151]}, {"key": "to-reimburse", "type": "definition", "offset": [1215, 1227]}, {"key": "fees-charged", "type": "clause", "offset": [1255, 1267]}, {"key": "interest-payable", "type": "definition", "offset": [1404, 1420]}, {"key": "pursuant-to-section", "type": "definition", "offset": [1431, 1450]}, {"key": "actually-paid", "type": "definition", "offset": [1596, 1609]}, {"key": "fees-and-expenses", "type": "definition", "offset": [1653, 1670]}], "size": 3, "snippet": "After the Effective Date, Cutera and Cutera Affiliates shall permit a nationally certified, independent public accountant (which the Parties hereby agree shall include Pricewaterhouse Coopers) selected by Palomar (\u201cIndependent Accountant\u201d) to have access during normal business hours, at Cutera and any Cutera Affiliate\u2019s premises, to such of the records of Cutera and Cutera Affiliates as may be reasonably necessary to verify the accuracy of the royalty payments under Section 4.2, Section 3(a)(ii) of the Settlement Agreement, and interest thereon (the \u201cInitial Audit\u201d). In the event that such Independent Accountant concludes that additional royalties or interest thereon are owed for the period before April 1, 2006, the additional royalty shall be paid within thirty (30) days of the date Palomar delivers to Cutera such Independent Accountant\u2019s written report so concluding, together with interest calculated in the manner provided by Section 4.2; in the event that such Independent Accountant concludes that Cutera overpaid royalties owed on past Sales of Licensed Products, then Cutera may credit such over-payment against future amounts owed Palomar hereunder but otherwise Palomar shall not be obligated to reimburse any such over-payment. The fees charged by such Independent Accountant for the Initial Audit shall be paid by Palomar unless the Initial Audit discloses that the royalties and interest payable by Cutera pursuant to Section 4.2 and Section 3(a)(ii) of the Settlement Agreement are greater than fifty thousand dollars (U.S. $50,000) more than the royalties and interest actually paid, in which case Cutera shall pay the actual fees and expenses charged by such Independent Accountant.", "samples": [{"hash": "k3vplEZFM6J", "uri": "/contracts/k3vplEZFM6J#initial-audit", "label": "Non Exclusive Patent License (Cutera Inc)", "score": 21.0, "published": true}, {"hash": "ieJif1OCXQa", "uri": "/contracts/ieJif1OCXQa#initial-audit", "label": "Non Exclusive Patent License", "score": 21.0, "published": true}, {"hash": "4kEhwQQZon7", "uri": "/contracts/4kEhwQQZon7#initial-audit", "label": "Non Exclusive Patent License (Palomar Medical Technologies Inc)", "score": 20.0, "published": true}], "hash": "7a4386c7afde5ebfedc5447c4377608a", "id": 2}, {"snippet_links": [{"key": "the-audit", "type": "clause", "offset": [0, 9]}, {"key": "section-45", "type": "clause", "offset": [25, 36]}, {"key": "this-agreement", "type": "clause", "offset": [40, 54]}, {"key": "first-loan", "type": "clause", "offset": [96, 106]}, {"key": "to-the-borrower", "type": "clause", "offset": [116, 131]}, {"key": "accounts-receivable", "type": "clause", "offset": [134, 153]}, {"key": "to-borrower", "type": "definition", "offset": [159, 170]}, {"key": "pursuant-to-section", "type": "definition", "offset": [171, 190]}], "size": 3, "snippet": "The audit referred to in Section 4.5 of this Agreement shall be completed within 90 days of the first Loan relating to the Borrower's accounts receivable made to Borrower pursuant to Section 1.1.", "samples": [{"hash": "5QDHC5hoE42", "uri": "/contracts/5QDHC5hoE42#initial-audit", "label": "Loan and Security Agreement (Kofax Image Products Inc)", "score": 18.0, "published": true}], "hash": "6e38529b646ccf43600e3e275dc6732b", "id": 3}, {"snippet_links": [{"key": "virgin-media", "type": "definition", "offset": [0, 12]}, {"key": "sole-discretion", "type": "clause", "offset": [34, 49]}, {"key": "the-equipment", "type": "definition", "offset": [72, 85]}, {"key": "the-customer-shall", "type": "clause", "offset": [122, 140]}, {"key": "safe-access", "type": "clause", "offset": [158, 169]}, {"key": "the-system", "type": "definition", "offset": [217, 227]}, {"key": "the-audit", "type": "clause", "offset": [268, 277]}, {"key": "right-to-refuse-to", "type": "clause", "offset": [335, 353]}, {"key": "in-respect-of", "type": "clause", "offset": [373, 386]}, {"key": "good-working-condition", "type": "definition", "offset": [428, 450]}, {"key": "to-repair", "type": "clause", "offset": [472, 481]}, {"key": "customer-for", "type": "clause", "offset": [511, 523]}, {"key": "commencement-of-the-service", "type": "clause", "offset": [545, 572]}], "size": 2, "snippet": "Virgin Media Business may, at its sole discretion carry out an audit of the Equipment prior to commencing the Service and the Customer shall provide full and safe access, both physical and remote to the Equipment and the system of which it is part for the purposes of the audit. Following such audit Virgin Media Business reserves the right to refuse to supply the Service in respect of Equipment which in its opinion is not in good working condition or at its discretion to repair the Equipment and charge the Customer for any repairs prior to commencement of the Service.", "samples": [{"hash": "7e4rbiMLStz", "uri": "/contracts/7e4rbiMLStz#initial-audit", "label": "Maintenance Contract", "score": 21.9158110883, "published": true}, {"hash": "lhhKIoqZAR7", "uri": "/contracts/lhhKIoqZAR7#initial-audit", "label": "Maintenance Contract", "score": 21.5749486653, "published": true}], "hash": "d599748a48c98fd5269c87ac6da13ebf", "id": 4}, {"snippet_links": [{"key": "after-the-effective-date", "type": "clause", "offset": [33, 57]}, {"key": "independent-accountant", "type": "clause", "offset": [101, 123]}, {"key": "as-of-the-effective-date", "type": "clause", "offset": [131, 155]}, {"key": "normal-business-hours", "type": "definition", "offset": [210, 231]}, {"key": "the-records", "type": "clause", "offset": [287, 298]}, {"key": "reasonably-necessary", "type": "clause", "offset": [337, 357]}, {"key": "to-verify", "type": "definition", "offset": [358, 367]}, {"key": "accuracy-of-the", "type": "clause", "offset": [372, 387]}, {"key": "fee-payment", "type": "clause", "offset": [401, 412]}, {"key": "applicable-interest", "type": "clause", "offset": [446, 465]}, {"key": "responsible-for", "type": "clause", "offset": [527, 542]}, {"key": "payment-of-the", "type": "clause", "offset": [553, 567]}, {"key": "amount-owed", "type": "clause", "offset": [568, 579]}, {"key": "terms-of", "type": "definition", "offset": [632, 640]}, {"key": "agreement-or", "type": "definition", "offset": [650, 662]}, {"key": "the-settlement-agreement", "type": "clause", "offset": [663, 687]}, {"key": "that-\u2587", "type": "clause", "offset": [758, 764]}, {"key": "to-pay", "type": "clause", "offset": [786, 792]}, {"key": "equal-to", "type": "definition", "offset": [916, 924]}, {"key": "lesser-of", "type": "definition", "offset": [929, 938]}, {"key": "per-month", "type": "clause", "offset": [971, 980]}, {"key": "highest-rate", "type": "definition", "offset": [988, 1000]}, {"key": "applicable-law", "type": "clause", "offset": [1014, 1028]}, {"key": "period-from", "type": "definition", "offset": [1088, 1099]}, {"key": "the-sale", "type": "clause", "offset": [1145, 1153]}, {"key": "related-to", "type": "clause", "offset": [1273, 1283]}, {"key": "the-start-date", "type": "definition", "offset": [1317, 1331]}, {"key": "interest-calculation", "type": "definition", "offset": [1341, 1361]}, {"key": "higher-rate", "type": "definition", "offset": [1413, 1424]}, {"key": "applicable-rate", "type": "definition", "offset": [1440, 1455]}, {"key": "failure-by", "type": "clause", "offset": [1461, 1471]}, {"key": "notice-thereof", "type": "clause", "offset": [1606, 1620]}, {"key": "breach-of-this", "type": "clause", "offset": [1649, 1663]}, {"key": "for-clarity", "type": "clause", "offset": [1687, 1698]}, {"key": "rate-of-interest", "type": "definition", "offset": [1709, 1725]}, {"key": "sale-of-the", "type": "clause", "offset": [1745, 1756]}, {"key": "net-sales", "type": "definition", "offset": [1818, 1827]}, {"key": "the-fees-and-expenses", "type": "clause", "offset": [2036, 2057]}], "size": 2, "snippet": "Beginning within sixty (60) days after the Effective Date, \u2587\u2587\u2587\u2587 and \u2587\u2587\u2587\u2587 Affiliates shall permit the Independent Accountant, which as of the Effective Date is PriceWaterhouse Coopers LLP, to have access during normal business hours, at \u2587\u2587\u2587\u2587 and any \u2587\u2587\u2587\u2587 Affiliate\u2019s premises, to such of the records of \u2587\u2587\u2587\u2587 and \u2587\u2587\u2587\u2587 Affiliates as may be reasonably necessary to verify the accuracy of the infringement fee payment set forth in Section 4(a)(i) and applicable interest in Section 4(a)(ii) (the \u201cInitial Audit\u201d), and \u2587\u2587\u2587\u2587 shall be responsible for any under-payment of the amount owed Palomar under this Section 4(a) notwithstanding the terms of this TDS Agreement or the Settlement Agreement (including any release thereunder). The Parties acknowledge and agree that \u2587\u2587\u2587\u2587 shall be required to pay any initial under-payment under this Section 4(a) (the \u201cPast Infringement Under-Payment\u201d) in full, plus interest at a rate equal to the lesser of one and one-half percent (1.5%) per month or the highest rate permitted by applicable law (calculated on a compound basis with a monthly compounding period from the date in the middle of the month in which the Sale was made until the date payment is made, or if any portion of the Past Infringement Under-Payment cannot reasonably be related to any such Sale so as to determine the start date for such interest calculation, then from January 1, 2006 for such portion) (the \u201cHigher Rate\u201d), and not the Applicable Rate, and failure by \u2587\u2587\u2587\u2587 to pay the Past Infringement Under-Payment, plus such interest at the Higher Rate, in full within forty-five (45) days following notice thereof shall constitute a material breach of this TDS Agreement by \u2587\u2587\u2587\u2587. For clarity, only one rate of interest shall apply to any Sale of the Harmony System or Aria System, or any portion of Fee-Bearing Net Sales, not initially reported by \u2587\u2587\u2587\u2587 that gives rise to or results in the Past Infringement Under-Payment, which rate of interest shall be equal to the Higher Rate as determined above and not the Applicable Rate. The fees and expenses charged by such Independent Accountant for the Initial Audit shall be paid by \u2587\u2587\u2587\u2587.", "samples": [{"hash": "lK7AKdsmgTb", "uri": "/contracts/lK7AKdsmgTb#initial-audit", "label": "Trade Dress Settlement Agreement (Palomar Medical Technologies Inc)", "score": 20.0, "published": true}], "hash": "e43f5322a3cdbfa1d7e55c93c95545bf", "id": 5}, {"snippet_links": [{"key": "after-the-effective-date", "type": "clause", "offset": [33, 57]}, {"key": "independent-accountant", "type": "clause", "offset": [101, 123]}, {"key": "as-of-the-effective-date", "type": "clause", "offset": [131, 155]}, {"key": "normal-business-hours", "type": "definition", "offset": [210, 231]}, {"key": "the-records", "type": "clause", "offset": [287, 298]}, {"key": "reasonably-necessary", "type": "clause", "offset": [337, 357]}, {"key": "to-verify", "type": "definition", "offset": [358, 367]}, {"key": "section-42", "type": "clause", "offset": [411, 422]}, {"key": "and-interest", "type": "clause", "offset": [423, 435]}, {"key": "in-the-event", "type": "clause", "offset": [467, 479]}, {"key": "additional-royalties", "type": "definition", "offset": [528, 548]}, {"key": "the-period", "type": "clause", "offset": [582, 592]}, {"key": "additional-royalty", "type": "clause", "offset": [624, 642]}, {"key": "within-thirty", "type": "clause", "offset": [657, 670]}, {"key": "written-report", "type": "definition", "offset": [748, 762]}, {"key": "with-interest", "type": "definition", "offset": [787, 800]}, {"key": "the-fees-and-expenses", "type": "clause", "offset": [842, 863]}], "size": 2, "snippet": "Beginning within sixty (60) days after the Effective Date, A\u2587\u2587\u2587 and A\u2587\u2587\u2587 Affiliates shall permit the Independent Accountant, which as of the Effective Date is PriceWaterhouse Coopers LLP, to have access during normal business hours, at A\u2587\u2587\u2587 and any A\u2587\u2587\u2587 Affiliate\u2019s premises, to such of the records of A\u2587\u2587\u2587 and A\u2587\u2587\u2587 Affiliates as may be reasonably necessary to verify the accuracy of the royalty payments under Section 4.2 and interest thereon (the \u201cInitial Audit\u201d). In the event that such Independent Accountant concludes that additional royalties or interest thereon are owed for the period before the Effective Date, the additional royalty shall be paid within thirty (30) days of the date Palomar delivers to A\u2587\u2587\u2587 such Independent Accountant\u2019s written report so concluding, together with interest calculated in the manner provided above. The fees and expenses charged by such Independent Accountant for the Initial Audit shall be paid by A\u2587\u2587\u2587.", "samples": [{"hash": "5H2PhiQEs7", "uri": "/contracts/5H2PhiQEs7#initial-audit", "label": "Non Exclusive Patent License (Alma Lasers Ltd.)", "score": 21.0, "published": true}], "hash": "3a3cea40e731fdbbd2d9b8d9a4d11c3c", "id": 6}, {"snippet_links": [{"key": "the-closing-date", "type": "clause", "offset": [27, 43]}, {"key": "conduct-an-audit", "type": "clause", "offset": [56, 72]}, {"key": "the-collateral", "type": "definition", "offset": [76, 90]}], "size": 1, "snippet": "Within ninety (90) days of the Closing Date, Bank shall conduct an audit of the Collateral (at Borrower\u2019s expense).", "samples": [{"hash": "i5UHWXbc9d1", "uri": "/contracts/i5UHWXbc9d1#initial-audit", "label": "Loan and Security Agreement (Citadel Security Software Inc)", "score": 21.0, "published": true}], "hash": "3264f54c0254a01413945ff8ce768456", "id": 7}, {"snippet_links": [{"key": "without-limiting-the-foregoing", "type": "clause", "offset": [0, 30]}, {"key": "city-auditor", "type": "definition", "offset": [36, 48]}, {"key": "this-agreement", "type": "clause", "offset": [125, 139]}, {"key": "from-the-effective-date", "type": "clause", "offset": [232, 255]}, {"key": "audit-period", "type": "clause", "offset": [292, 304]}, {"key": "october-1", "type": "definition", "offset": [364, 373]}, {"key": "meet-and-confer", "type": "clause", "offset": [413, 428]}, {"key": "audit-results", "type": "clause", "offset": [462, 475]}, {"key": "determine-whether", "type": "clause", "offset": [480, 497]}, {"key": "additional-information", "type": "definition", "offset": [502, 524]}, {"key": "change-in", "type": "clause", "offset": [528, 537]}, {"key": "reports-provided", "type": "clause", "offset": [588, 604]}, {"key": "additional-audits", "type": "clause", "offset": [667, 684]}, {"key": "relating-to", "type": "definition", "offset": [685, 696]}, {"key": "by-the-city", "type": "clause", "offset": [740, 751]}, {"key": "after-the-term", "type": "clause", "offset": [762, 776]}], "size": 1, "snippet": "Without limiting the foregoing, the City Auditor will undertake an audit of the TOT reporting and remittances provided under this Agreement on or promptly after August 1, 2023 for Special Packages involving arrivals for Hotel stays from the Effective Date through June 30, 2023 (the \u201cInitial Audit Period\u201d), and shall endeavor to complete such audit no later than October 1, 2023. The City Auditor and WDTC shall meet and confer promptly afterward to review the audit results and determine whether any additional information or change in reporting presentation is required in the Monthly Reports provided under Section 2(b)(4) above for the remainder of the Term. No additional audits relating to the Initial Audit Period will be conducted by the City during or after the Term.", "samples": [{"hash": "8Ob9fnYs6Q7", "uri": "/contracts/8Ob9fnYs6Q7#initial-audit", "label": "Special Package Transient Occupancy Tax Agreement", "score": 31.6306087949, "published": true}], "hash": "b21b209e99f14f4e0766605cf45b9fda", "id": 8}, {"snippet_links": [{"key": "annual-audit", "type": "definition", "offset": [16, 28]}, {"key": "section-45", "type": "clause", "offset": [44, 55]}, {"key": "this-agreement", "type": "clause", "offset": [59, 73]}, {"key": "prior-to-the", "type": "clause", "offset": [121, 133]}, {"key": "loans-hereunder", "type": "clause", "offset": [148, 163]}], "size": 1, "snippet": "The first, semi-annual audit referred to in Section 4.5 of this Agreement shall be completed, with satisfactory results, prior to the making of any Loans hereunder. BORROWER:\nI- FLOW CORPORATION", "samples": [{"hash": "1fwEYKzz3hz", "uri": "/contracts/1fwEYKzz3hz#initial-audit", "label": "Loan and Security Agreement (I Flow Corp /Ca/)", "score": 18.0, "published": true}], "hash": "069654c5c699ed8885338d213a002f8c", "id": 9}, {"snippet_links": [{"key": "lessee-shall", "type": "clause", "offset": [0, 12]}, {"key": "environmental-audit", "type": "definition", "offset": [22, 41]}, {"key": "the-project-area", "type": "clause", "offset": [45, 61]}, {"key": "performed-by", "type": "clause", "offset": [68, 80]}, {"key": "duly-licensed", "type": "clause", "offset": [83, 96]}, {"key": "services-provider", "type": "definition", "offset": [111, 128]}, {"key": "in-the-business", "type": "definition", "offset": [129, 144]}, {"key": "phase-i-and-phase-ii", "type": "clause", "offset": [159, 179]}, {"key": "state-of-oregon", "type": "clause", "offset": [194, 209]}, {"key": "in-accordance-with", "type": "definition", "offset": [210, 228]}, {"key": "national-standards", "type": "clause", "offset": [239, 257]}, {"key": "to-lessor", "type": "definition", "offset": [301, 310]}, {"key": "the-foregoing", "type": "definition", "offset": [312, 325]}, {"key": "will-serve", "type": "definition", "offset": [397, 407]}, {"key": "determination-of", "type": "clause", "offset": [426, 442]}, {"key": "environmental-condition", "type": "clause", "offset": [451, 474]}, {"key": "environmental-liability", "type": "clause", "offset": [496, 519]}, {"key": "scope-of-the", "type": "clause", "offset": [525, 537]}, {"key": "by-lessee", "type": "clause", "offset": [571, 580]}], "size": 1, "snippet": "Lessee shall cause an Environmental Audit of the Project Area to be performed by a duly licensed environmental services provider in the business of conducting Phase I and Phase II audits in the State of Oregon in accordance with local and national standards. This Environmental Audit will be provided to Lessor. The foregoing audit is referred to herein as the \u201cInitial Audit.\u201d This Initial Audit will serve as a baseline for determination of current environmental condition and potential future environmental liability. The scope of the Initial Audit will be determined by Lessee.", "samples": [{"hash": "lFShAkuZGqs", "uri": "/contracts/lFShAkuZGqs#initial-audit", "label": "Ground Lease", "score": 24.6550308008, "published": true}], "hash": "f97c5e775f799a7cd8c8bec682f1b50b", "id": 10}], "next_curs": "ClYSUGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjILEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhZpbml0aWFsLWF1ZGl0IzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"size": 27, "title": "Initial Audit", "parents": [["audit-requirements", "Audit Requirements"], ["mandatory-audits", "Mandatory Audits"], ["compensation", "Compensation"], ["audits", "Audits"], ["general-provisions", "General Provisions"]], "children": [["", ""], ["general-provisions", "GENERAL PROVISIONS"], ["revised-maturity-date", "REVISED MATURITY DATE"], ["interest", "Interest"], ["term-loans", "TERM LOANS"]], "id": "initial-audit", "related": [["final-audit", "Final Audit", "Final Audit"], ["annual-audits", "Annual Audits", "Annual Audits"], ["annual-audit", "Annual Audit", "Annual Audit"], ["environmental-audit", "Environmental Audit", "Environmental Audit"], ["financial-audit", "Financial Audit", "Financial Audit"]], "related_snippets": [], "updated": "2025-07-07T12:36:18+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The Initial Audit clause establishes the right for one party, typically the client or a regulatory body, to conduct an audit of the other party\u2019s operations, records, or compliance at the outset of an agreement or project. This audit may involve reviewing financial records, operational procedures, or compliance with specific contractual or legal requirements, often within a defined timeframe after the contract begins. Its core practical function is to provide assurance and transparency at the start of the relationship, allowing the auditing party to verify that standards are being met and to identify any issues early on, thereby reducing the risk of future disputes or non-compliance."}, "json": true, "cursor": ""}}