Common use of Right to Examine Clause in Contracts

Right to Examine. METROPOLITAN'S RECORDS SUMMIT shall have the right to examine and audit any and all of the books, records, or other information of METROPOLITAN, with respect to or concerning this agreement or the receivables during business hours or at such other times as may be reasonable under applicable circumstances. 6. EVENT OF DEFAULT The following shall be construed as an event of default: a. The failure by METROPOLITAN to deliver any and all monies received by METROPOLITAN which METROPOLITAN is obligated to pay to SUMMIT pursuant to the terms of this agreement; b. The failure by SUMMIT to deliver any sums required to be paid to METROPOLITAN pursuant to the terms of this agreement. c. The failure of either party to perform in accordance with the terms and conditions of this agreement to the extent that such failure to perform shall constitute a material breach of a term or condition of this agreement. d. In the event that METROPOLITAN shall file bankruptcy or otherwise be determined to be insolvent, this agreement may be terminated by SUMMIT and SUMMIT may take immediate steps to employ another entity to collect and service the receivables then being serviced by METROPOLITAN. 7.

Right to Examine. METROPOLITAN'S RECORDS SUMMIT ARIZONA LIFE shall have the right to examine and audit any and all of the books, records, or other information of METROPOLITAN, with respect to or concerning this agreement or the receivables during business hours or at such other times as may be reasonable under applicable circumstances. 6. EVENT OF DEFAULT The following shall be construed as an event of default: a. The failure by METROPOLITAN to deliver any and all monies received by METROPOLITAN which METROPOLITAN is obligated to pay to SUMMIT ARIZONA LIFE pursuant to the terms of this agreement; b. The failure by SUMMIT ARIZONA LIFE to deliver any sums required to be paid to METROPOLITAN pursuant to the terms of this agreement. c. The failure of either party to perform in accordance with the terms and conditions of this agreement to the extent that such failure to perform shall constitute a material breach of a term or condition of this agreement. d. In the event that METROPOLITAN shall file bankruptcy or otherwise be determined to be insolvent, this agreement may be terminated by SUMMIT ARIZONA LIFE and SUMMIT ARIZONA LIFE may take immediate steps to employ another entity to collect and service the receivables then being serviced by METROPOLITAN. 7.