Common use of Record and File Retention Clause in Contracts

Record and File Retention. Sub-Grantee must maintain these files for five years after the end of the applicable fiscal year, except that, if any litigation, claim or audit is commenced with respect to the transactions documented by such files before the end of the aforementioned five-year period and extends beyond the expiration of the five-year period, these files must be retained until all litigation, claims, or audit findings involving the files have been resolved.

Record and File Retention. Sub-Grantee Subrecipient must maintain these files for five years after the end of the applicable fiscal year, except that, if any litigation, claim or audit is commenced with respect to the transactions documented by such files before the end of the aforementioned five-five year period and extends beyond the expiration of the five-five year period, these files must be retained until all litigation, claims, or audit findings involving the files have been resolved.