Common use of Reporting and control Clause in Contracts

Reporting and control. 1. The YTC shall report to tbg semi-annually, by March 31 and September 30, respectively, the financial situation of the YTC and the status of the innovation project described in (S) 1, Section 2b, until such time when tbg waives such reports, because the AC exercises control of the YTC also on behalf of tbg. In addition, the YTC shall file with tbg brief monthly status reports in the form appended hereto. 2. Regardless whether the AC exercises control in the YTC also on behalf of tbg, the YTC shall notify tbg directly immediately of all measures exceeding the scope of the normal business transactions. In addition to the measures defined in (S) 4, Section 2, measures exceeding the scope of business transactions include specifically: (a) Partial or complete stoppage of operations; (b) Abandonment or substantial modifications of the innovation project described in (S) 1, Section 2; (c) The entering into commitments, also for investments, in excess of DM 150,000.- or, insofar as such commitments arise from lease, rental, or leasehold contracts, in excess of DM 50,000.-- per month, and are not stated in the present business plan. 3. Furthermore, tbg is entitled to exercise its rights of control in accordance with (S) 716 of the German Civil Code. This shall apply also after termination of the Partnership to the extent required for the verification of the funds to be distributed. tbg is further entitled the review all the documentation of the YTC pertaining to the innovation project described in (S) 1, Section 2b. To exercise its rights of control, tbg is entitled to avail itself of the services of third parties. 4. The YTC concedes to BMBF and its designated representative the rights to presentation, information and inspection to the same extent as conceded to tbg. The YTC entitles tbg to forward for scientific evaluation of the model test described in (S) 1, Section 1, of this Agreement all data concerning its enterprise and the promoted innovation project to BMBF or an institute designated by BMBF. It agrees further, to disclose directly also to BMBF and an institute designated by BMBF all information required for the scientific evaluation of the model programme. In the event of the processing and/or publication of data concerning the programme it shall be ensured that the YTC incurs no damages. 5. Upon request, the YTC shall furnish tbg with all documentation deemed necessary by the Department of the AuditorGeneral for the purpose of audit.

Reporting and control. 1. The YTC TC shall report to tbg semi-annually, by March 31 and September 30, respectively, the financial situation of the YTC TC and the status of the innovation project described in (S) 1, Section 2b, until such time when tbg waives such reports, because the AC exercises control of the YTC TC also on behalf of tbg. In addition, the YTC TC shall file with tbg brief monthly status reports in the form appended hereto. 2. Regardless whether the AC exercises control in the YTC TC also on behalf of tbg, the YTC TC shall notify tbg directly and immediately of all measures exceeding the scope of the normal business transactions. In addition to the measures defined in (S) 45, Section 2, measures exceeding the scope of normal business transactions include specifically: (a) Partial or complete stoppage of operations; (b) Abandonment or substantial modifications of the innovation project described in (S) 1, Section 2; (c) The entering into commitments, also for investments, in excess of DM 150,000.- or, insofar as such commitments arise from lease, rental, or leasehold contracts, in excess of DM 50,000.-- per month, and are not stated in the present business plan. 3. Furthermore, tbg is entitled to exercise its rights of control in accordance with (S) 716 of the German Civil Code. This shall apply also after termination of the Partnership to the extent required for the verification of the funds to be distributed. tbg is further entitled the to review all the documentation of the YTC TC pertaining to the innovation project described in (S) 1, Section 2b2. To exercise its rights of control, tbg is entitled to avail itself of the services of third parties. 4. The YTC TC concedes to BMBF and its designated representative the rights to presentation, information and inspection to the same extent as conceded to tbg. The YTC TC entitles tbg to forward for scientific evaluation of the model test programme described in (S) 1, Section 1, of this Agreement all data concerning its enterprise and the promoted innovation project to BMBF or an institute designated by BMBF. It agrees further, to disclose directly also to BMBF and an institute designated by BMBF all information required for the scientific evaluation of the model programme, if necessary also after termination of the Silent Partnership. The BMBF is entitled to forward the disclosed data to the EU Commission to enable the Commission to exercise the right of supervision and control. In the event of the processing and/or publication of data concerning the programme it shall be ensured that the YTC TC incurs no damages. 5. Upon request, In accordance with (S) 91 of the YTC shall Federal Budget Law the Federal Auditor General's Department has a right to inspection. For the purposes of inspection the TC will furnish the Federal Auditor General's Department and tbg with all documentation documents deemed necessary by the Federal Auditor General's Department of the AuditorGeneral for the purpose of auditand disclose respective information.