Common use of Period of Retention Clause in Contracts

Period of Retention. All books, records, reports, and statements relevant to this Agreement must be retained a minimum three years as part of this Agreement. The retention period runs from the date of completion or termination of this Agreement. Retention time shall be extended when an audit is scheduled or in progress for a period reasonably necessary to complete an audit and/or to complete any administrative and judicial litigation which may ensue.

Appears in 5 contracts

Sources: Project Agreement, Joining Forces Project Agreement, Joining Forces Project Agreement

Period of Retention. All books, records, reports, and statements relevant to this Agreement must be retained a minimum three years as part of and for five years if any federal funds are used in this Agreement. The retention period runs from the date of completion or termination of this Agreement. Retention time shall be extended when an audit is scheduled or in progress for a period reasonably necessary to complete an audit and/or to complete any administrative and judicial litigation which may ensue.

Appears in 2 contracts

Sources: Memorandum of Agreement, Cooperative Agreement

Period of Retention. All books, records, reports, and statements relevant to this Agreement must be retained a minimum three years and for five years if any federal funds are used as part of this Agreement. The retention period runs from the date of completion or termination of this Agreement. Retention time shall be extended when an audit is scheduled or in progress for a period reasonably necessary to complete an audit and/or to complete any administrative and judicial litigation which may ensue.

Appears in 1 contract

Sources: Joining Forces Project Agreement