Audit Cost definition

Audit Cost shall have the meaning set forth in Section 6.20(c).
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Audit Cost means, (i) if the audit is performed by independent certified public accountants, the cost, including reasonable expenses billed by such certified public accountants to the auditing party for such audit; or (ii) if the audit is performed by employees of the auditing party, all reasonable expenses incurred during the course of such audit plus a reasonable allocation of each such employee's salary reflecting the time spent on the audit.
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Examples of Audit Cost in a sentence

  • In the event that the third auditor confirms that the Silver Dragon Payment and/or Additional Silver Dragon Payment for the period in question were understated by five percent (5%) or more, Sino shall remit the amount of the Deficiency and the Audit Cost to Silver Dragon forthwith.

  • In the event an audit determines that there are no delinquent contributions due the Fund, other than in situations as noted in the above paragraph, the Fund shall pay the entire Audit Cost.

  • If this Agreement is terminated pursuant to Section 12.1, the Company promptly shall pay to the Buyer the Company's portion of the 1993-1994 Audit Cost.

  • Licensee will be responsible for reimbursing the District for Licensee’s pro-rata share of the District’s actual, reasonable, and documented total Audit Cost, taking into account all other persons having Pole Attachments on the audited Poles paying their respective pro- rata share.

  • All field audits shall be at the cost and expense of the Borrowers; provided, however, that, except as otherwise expressly set forth below, in the absence of an Event of Default hereunder, the cost and expense to the Borrowers of field audits shall be limited to the cost and expense of no more than two (2) field audits conducted during any twelve (12) month period (the "Field Audit Cost Limitation").

  • In the event the audit determines that there are delinquent contributions due the Fund which were intentionally not paid by the Employer, the entire Audit Cost shall be assessed against the Employer.

  • To the extent related to Licensee’s Attachments to the total of all audited 3rd party attachments, Licensee will reimburse District for its pro-rata share of District’s total Audit Cost and related administrative expenses within thirty (30) days of the invoice date.

  • Notwithstanding the foregoing, any field audit conducted with respect to the joinder of a new Borrower pursuant to Section 1.10 of this Agreement shall not be subject to the Field Audit Cost Limitation.

  • The Cash Certificate shall set forth as well: (aa) the Payroll and (bb) the Audit Cost, it being understood that the relevant auditors shall have provided prior to the Closing Date a firm estimate of their fees with respect to the audit of the 2007 Interim Consolidated Financial Statements and 2007 Interim Statutory Financial Statements to be performed according to Sections 5.5(b)(2) and 6.20(c).

  • Audit Cost" shall mean, (i) if the audit is performed by independent certified public accountants, the cost, including reasonable expenses billed by such certified public accountants to the auditing party for such audit; or (ii) if the audit is performed by employees of the auditing party, all reasonable expenses incurred during the course of such audit plus a reasonable allocation of each such employee's salary reflecting the time spent on the audit.

Related to Audit Cost

  • Net cost means the Contractor’s actual cost after deducting all permitted cash and trade discounts, rebates, allowances, credits, sales taxes, commissions, and refunds (whether or not any or all of the same shall have been taken by the Contractor) of all parts and materials purchased by the Contractor solely for the use in performing its obligation hereunder provided, where such purchase has received the prior written approval of the Manager as required herein. The Contractor shall promptly furnish to the Manager such bills of sale and other instruments as the Manger may require, executed, acknowledged and delivered, assuring to the Manager title to such materials, supplies, equipment, parts, and tools free of encumbrances.

  • Patient cost means the cost of a medically necessary health care service that is incurred as a result

  • Project Cost means the price payable to Service Provider over the entire period of Agreement (i.e. Rs. <in words>) for the full and proper performance of its contractual obligations.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Equipment Cost means, for each Unit, the purchase price therefor paid by the Owner Trustee to the Lessee pursuant to Section 2 of the Participation Agreement and as set forth in Schedule 1 to the Participation Agreement with respect to such Unit. Notwithstanding anything to the contrary contained in the Operative Agreements, the Equipment Cost for any Replacement Unit shall be deemed to be the Equipment Cost or deemed Equipment Cost of the Unit replaced by such Replacement Unit.