Common use of Record reten tion Clause in Contracts

Record reten tion. Ea c h r ecipie n t of fi nan ci a l a ssis t an ce un de r t h is p ar t s ha ll k eep s u c h r eco r ds a s t h e Ad m i n is- t ra t o r s ha ll p r esc r ibe, i n cl u di n g r ec- o r ds w h ic h fu ll y disclose t h e a m o un t an d disposi t io n b y s u c h r ecipie n t of t h e p r oceeds of s u c h a ssis t an ce, t h e t o t a l cos t of t h e p r ojec t o r un de r t a k i n g i n co nn ec t io n wi t h w h ic h s u c h a ssis t an ce w a s give n o r u sed, t h e a m o un t of t ha t po r t io n of t h e cos t of t h e p r ojec t o r un- de r t a k i n g s u pplied b y o t h e r so ur ces, an d s u c h o t h e r r eco r ds a s will xx xxxx- x x x x an effec t ive au di t .

Record reten tion. Ea c h r ecipie n t of fi nan n a n ci a l a ssis t an ce x x x xx un de r t h is i s p ar a r t s ha h a ll k eep s u c h r eco r ds a s t h e Ad m i n is- i s- t ra r a t o r s ha h a ll p r esc r ibe, i n cl u di n g r ec- o r ds w h ic h fu ll y disclose t h e a m o un t an a n d disposi t io n b y s u c h r ecipie n t of t h e p r oceeds of s u c h a ssis t an cex x x xx, t h e t o t a l cos t of t h e p r ojec t o r un de r t a k i n g i n co nn ec t io n wi t h w h ic h s u c h a ssis t an ce x x x xx w a s give n o r u sed, t h e a m o un t of t ha h a t po r t io n of t h e cos t of t h e p r ojec t o r un- de r t a k i n g s u pplied b y o t h e r so ur ces, an a n d s u c h o t h e r r eco r ds a s will xx xxxx- x x x x an fa cili- t a t e a n effec t ive au a u di t .