Franchise Fees Subject to Audit Sample Clauses

Franchise Fees Subject to Audit. 7.2.1 Upon reasonable prior written notice, during Normal Business Hours at Grantee’s principal business office, the Franchising Authority shall have the right to inspect the Grantee’s financial records used to calculate the Franchising Authority’s franchise fees; provided, however, that any such inspection shall take place within two (2) years from the date the Franchising Authority receives such payment, after which period any such payment shall be considered final.

Franchise Fees Subject to Audit. The City and Grantee acknowledge that the audit standards are set forth in the Illinois Municipal Code at 65 ILCS 5/11-42-11.05 (Municipal Franchise Fee Review; Requests For Information). Any audit shall be conducted in accordance with generally applicable auditing standards. 5.2.1 In accordance with 65 ILCS 5/11-42-11.05 (k), the City shall provide on an annual basis, a complete list of addresses within the corporate limits of the City. If an address is not included in the list or if no list is provided, the Grantee shall be held harmless for any franchise fee underpayments (including penalty and interest) from situsing errors.

Franchise Fees Subject to Audit. 7.2.1 Upon notice pursuant to Section 13.2 herein, during Normal Business Hours at Franchisee’s principal business office, the Franchising Authority shall have the right to inspect the Franchisee’s financial records used to calculate the Franchising Authority’s franchise fees; provided, however, that any such inspection shall take place within two (2) years from the date the Franchising Authority receives such payment, after which period any such payment shall be considered final.

Franchise Fees Subject to Audit. 7.1.2.1. Upon notice pursuant to Section 15.2 herein, during Normal Business Hours at Franchisee’s principal business office, the Franchising Authority shall have the right to inspect the Franchisee’s financial records used to calculate the Franchising Authority’s franchise fees; provided, however, that any such inspection shall take place within two (2) years from the date the Franchising Authority receives such payment, after which period any such payment shall be considered final. 7.1.2.2. Upon the completion of any such audit by the Franchising Authority, the Franchising Authority shall provide to the Franchisee a final report setting forth the Franchising Authority’s findings in detail, including any and all substantiating documentation. In the event of an alleged underpayment, the Franchisee shall have thirty (30) days from

Franchise Fees Subject to Audit. 7.2.1. Upon reasonable prior written notice, during normal business hours at Grantee’s principal business office located in the state of Utah, the Franchising Authority shall have the right to inspect the Grantee’s financial records used to calculate the Franchising Authority’s franchise fees; provided, however, that any such inspection shall take place within two (2) years from the date the Franchising Authority receives such payment, after which period any such payment shall be considered final. 7.2.2. Upon the completion of any such audit by the Franchising Authority, the Franchising Authority shall provide to the Grantee a final report setting forth the Franchising Authority’s findings in detail, including any and all substantiating documentation. In the event of an alleged underpayment, the Grantee shall have thirty (30) days from the receipt of the report to provide the Franchising Authority with a written response agreeing to or refuting the results of the audit, including any substantiating documentation. Based on these reports and responses, the parties shall agree upon a “Finally Settled Amount.” For purposes of this Section, the term “Finally Settled Amount(s)” shall mean the agreed upon underpayment, if any, to the Franchising Authority by the Grantee as a result of any such audit. If the parties cannot agree on a “Final Settlement Amount,” the parties shall submit the dispute to a mutually agreed upon mediator within sixty (60) days of reaching an impasse. In the event an agreement is not reached at mediation, either party may bring an action to have the disputed amount determined by a court of law. 7.2.3. Any “Finally Settled Amount(s)” due to the Franchising Authority as a result of such audit shall be paid to the Franchising Authority by the Grantee within thirty (30) days from the date the parties agree upon the “Finally Settled Amount.” Once the parties agree upon a Finally Settled Amount and such amount is paid by the Grantee, the Franchising Authority shall have no further rights to audit or challenge the payment for that period. The Franchising Authority shall bear the expense of its inspection and audit of the Grantee’s books and records, except that if the audit shows that franchise fee payments have been underpaid by five percent (5%) or more, Grantee shall pay the total cost of the Audit up to $5,000.

Franchise Fees Subject to Audit. 7.2.1. Upon reasonable prior written notice, during normal business hours at ▇▇▇▇▇▇▇'s principal business office, the Franchising Authority shall have the right to inspect the Grantee's financial records used to calculate the Franchising Authority's franchise fees; provided, however, that any such inspection shall take place within two (2) years from the date the Franchising Authority receives such payment, after which period any such payment shall be considered final. 7.2.2. Upon the completion of any such audit by the Franchising Authority, the Franchising Authority shall provide to the Grantee a final report setting forth the Franchising Authority's findings in detail, including any and all substantiating documentation. In the event of an alleged underpayment, the Grantee shall have thirty

Franchise Fees Subject to Audit. Upon reasonable prior written notice and no more than once annually, during normal business hours at Grantee’s principal business office, the Town shall have the right to inspect the Grantee’s financial records used to calculate the Town’s franchise fees; provided, however, that any such inspection shall take place within two (2) years from the date the Franchising Authority receives such payment, after which period any such payment shall be considered final.

Franchise Fees Subject to Audit. The County and Grantee acknowledge that the audit standards are set forth in the Counties Code at 55 ILCS 5/5-1095.1. Any audit shall be conducted in accordance with generally applicable auditing standards. This

Franchise Fees Subject to Audit. No acceptance of any payment shall be construed as an accord that the amount is in fact the correct amount, nor shall such acceptance of payment be construed as a release of any claim the City may have for further or additional sums payable under the provision of this Franchise. (a) All payments shall be subject to audit, which audit shall be limited to no more than one (1) for any three (3) year Franchise period. The Grantee shall pay the City's reasonable and actual out-of-pocket costs of the audit if the audit results show an under payment of more than five percent (5%) of the Grantee's annual payment to the City, up to a maximum amount of Seventy-Five Hundred Dollars ($7500), or an audit occurring in year ten (10) through and including year thirteen (13) of the Franchise the maximum amount of reimbursable reasonable and actual out-of-pocket expenses shall increase to Ten Thousand Dollars ($10,000). The Grantee shall pay to the City within thirty (30) days after the time for filing such statements, the sum prescribed or any undisputed unpaid balance thereof for the period of time covered by such statement. In the event the Grantee overpaid the City, the Grantee may deduct such amount from the next Franchise fee payment due to the City until such time as the overpayment has been recovered. (b) The Grantee shall file with the City within one hundred eighty (180) days after the expiration of the Grantee's fiscal year an audited financial statement prepared by a certified public accountant or an officer of the Grantee, certifying in a form reasonably satisfactory to the City's financial officer the Gross Revenues of the Grantee during the preceding fiscal year.