Common use of Financial Audit Clause in Contracts

Financial Audit. Micron reserves the right to have the Joint Venture Company’s books and records related to the Pricing hereunder inspected and audited not more than [***] during any Fiscal Year to ensure compliance with Schedule 4.8 of this Agreement in regards to Pricing. Such audit will be performed by an independent third party auditor acceptable to both Parties at Micron’s expense. Micron shall provide [***] ([***]) days advance written notice to the Joint Venture Company of its desire to initiate an audit and the audit shall be scheduled so that it does not adversely impact or interrupt the Joint Venture Company’s business operations. If the audit reveals any material discrepancies, the Joint Venture Company or Micron shall reimburse the other, as applicable, for any material discrepancies within [***] ([***]) days after completion of the audit. The results of such audit shall be kept confidential by the auditor and only the discrepancies shall be reported to the Parties, and be limited to discrepancies identified by the audit. Notwithstanding the foregoing, any auditor reports shall not disclose any the Joint Venture Company pricing or terms of purchase for any purchases of materials or equipment hereunder to Micron, absent written agreement from the Members’ respective legal counsel. If any audit reveals a material discrepancy, Micron may increase the frequency of such audits to [***] for the subsequent [***] ([***]) month period.

Financial Audit. Micron Intel reserves the right to have the Joint Venture Company’s 's books and records related to the Pricing hereunder inspected and audited not more than [***] * during any Fiscal Year to ensure compliance with Schedule 4.8 of this Agreement in regards to Pricing. Such audit will be performed by an independent third party auditor acceptable to both Parties at Micron’s Intel's expense. Micron Intel shall provide [***] ([***]) * days advance written notice to the Joint Venture Company of its desire to initiate an audit and the audit shall be scheduled so that it does not adversely impact or interrupt the Joint Venture Company’s 's business operations. If the audit reveals any material discrepancies, the Joint Venture Company or Micron Intel shall reimburse the other, as applicable, for any material discrepancies within [***] ([***]) * days after completion of the audit. The results of such audit shall be kept confidential by the auditor and only the discrepancies shall be reported to the Parties, and be limited to discrepancies identified by the audit. Notwithstanding the foregoing, any auditor reports shall not disclose any the Joint Venture Company pricing or terms of purchase for any purchases of materials or equipment hereunder to MicronIntel, absent written agreement from the Members’ ' respective legal counsel. If any audit reveals a material discrepancy, Micron Intel may increase the frequency of such audits to [***] * for the subsequent [***] ([***]) * month period.

Financial Audit. Micron Intel reserves the right to have the Joint Venture Company’s books and records related to the Pricing hereunder inspected and audited not more than [***] during any Fiscal Year to ensure compliance with Schedule 4.8 of this Agreement in regards to Pricing. Such audit will be performed by an independent third party auditor acceptable to both Parties at MicronIntel’s expense. Micron Intel shall provide [***] ([***]) days advance written notice to the Joint Venture Company of its desire to initiate an audit and the audit shall be scheduled so that it does not adversely impact or interrupt the Joint Venture Company’s business operations. If the audit reveals any material discrepancies, the Joint Venture Company or Micron Intel shall reimburse the other, as applicable, for any material discrepancies within [***] ([***]) days after completion of the audit. The results of such audit shall be kept confidential by the auditor and only the discrepancies shall be reported to the Parties, and be limited to discrepancies identified by the audit. Notwithstanding the foregoing, any auditor reports shall not disclose any the Joint Venture Company pricing or terms of purchase for any purchases of materials or equipment hereunder to MicronIntel, absent written agreement from the Members’ respective legal counsel. If any audit reveals a material discrepancy, Micron Intel may increase the frequency of such audits to [***] for the subsequent [***] ([***]) month period.

Financial Audit. Micron reserves the right to have the Joint Venture Company’s 's books and records related to the Pricing hereunder inspected and audited not more than [***] * during any Fiscal Year to ensure compliance with Schedule 4.8 of this Agreement in regards to Pricing. Such audit will be performed by an independent third party auditor acceptable to both Parties at Micron’s 's expense. Micron shall provide [***] ([***]) * days advance written notice to the Joint Venture Company of its desire to initiate an audit and the audit shall be scheduled so that it does not adversely impact or interrupt the Joint Venture Company’s 's business operations. If the audit reveals any material discrepancies, the Joint Venture Company or Micron shall reimburse the other, as applicable, for any material discrepancies within [***] ([***]) * days after completion of the audit. The results of such audit shall be kept confidential by the auditor and only the discrepancies shall be reported to the Parties, and be limited to discrepancies identified by the audit. Notwithstanding the foregoing, any auditor reports shall not disclose any the Joint Venture Company pricing or terms of purchase for any purchases of materials or equipment hereunder to Micron, absent written agreement from the Members’ ' respective legal counsel. If any audit reveals a material discrepancy, Micron may increase the frequency of such audits to [***] * for the subsequent [***] ([***]) * month period.