Common use of Maintenance and Inspection of Records Clause in Contracts

Maintenance and Inspection of Records. Futurestep shall maintain ------------------------------------- complete and accurate books and records, in accordance with generally accepted accounting practices, of all matters related to its compliance with its obligations hereunder ("Records"). Dow Xxxxx shall have the right itself, or through its authorized representatives, upon at least ten (10) business days' prior written notice, to inspect the Records during the other party's normal business hours, but no more often than once during each calendar year. If any such inspection reveals an underpayment of more than five percent (5%) related to the time period under inspection, the reasonable costs and expenses to conduct such inspection shall be paid by the underpaying party, and the underpaying party shall pay the amount of such underpayment within thirty (30) days. All information disclosed or obtained in the course of conducting any such inspection shall be deemed Confidential Information of the party whose Records are being inspected, and used solely for the purpose of verifying compliance with the terms of this Agreement. If Dow Xxxxx elects to have an authorized representative conduct its inspection of Records, the other party may require such authorized representative to execute and deliver a confidentiality agreement reasonably acceptable to the party whose Records are being inspected.