Common use of Research Program Expenditures Clause in Contracts

Research Program Expenditures. Symyx shall keep complete, true and accurate books of account and records for the purpose of determining Symyx's Research Expenses incurred in connection with the performance of the Research Program. Symyx shall make quarterly written reports to the EC with regard to all Research Expenses expended in a particular quarter, by Active Field, within ninety (90) days after the end of such calendar quarter. Such books and records shall be kept at the principal place of business of Symyx for at least two (2) years following the end of each calendar year. Such records will be open for inspection during such two (2) year period, by an independent auditor of Celanese, for the purpose of verifying the financial reports submitted by Symyx. Such inspections may be made no more than once each calendar year, at reasonable times mutually agreed by Symyx and Celanese. Celanese's auditor will be obliged to execute a reasonable confidentiality agreement prior to commencing any such inspection.