Common use of Ownership and Custody of Records Clause in Contracts

Ownership and Custody of Records. All records, books, and files established and maintained by Service Provider by reason of its performance of services under this Agreement, which absent this Agreement would have been held by the Service Recipient, shall be deemed the property of the Service Recipient and shall be maintained in accordance with applicable law and regulation. Such records should be available, during normal business hours, for inspection by the Service Recipient, anyone authorized by the Service Recipient, and any governmental agency that has regulatory authority over the Service Recipient’s business activities. Copies of such records, books and files shall be delivered to the Service Recipient promptly on demand. All such records, books and files shall be promptly transferred to the Service Recipient by Service Provider upon termination of this Agreement.

Ownership and Custody of Records. All records, books, and files established and maintained by Service Provider by reason of its performance of services under this Agreement, which absent this Agreement would have been held by the Service Recipient, shall be deemed the property of the Service Recipient and shall be maintained in accordance with applicable law and regulation, including, but not limited to, Regulation No.152. Such records should be available, during normal business hours, for inspection by the Service Recipient, anyone authorized by the Service Recipient, and any governmental agency that has regulatory authority over the Service Recipient’s business activities. Copies of such records, books and files shall be delivered to the Service Recipient promptly on demand. All such records, books and files shall be promptly transferred to the Service Recipient by Service Provider upon termination of this Agreement.