N-1Non-Confidential Work Order 10/4/2010
4 passages
7. ACCOUNTS AND AUDIT - 7.1 For a period of five (5) years after the completion of the Project, each Party shall, at their own expense: - (a) keep proper books, accounts, and records of their revenue received and expenses incurred and paid...
AI summary The document outlines obligations for parties involved in a project, requiring them to maintain detailed financial and environmental records for five years post-completion. These records must be made available to NB Power for audit purposes upon request.
7. REPAYMENT OF CONTRIBUTION - For the period commencing on March 31, 2014 and ending on March 31, 2019, the Proponent 7.1 shall pay to Canada 50% of annual profits (as defined by the Generally Accepted Accounting Principles (the "GAAP"))...
AI summary The Proponent is required to repay 50% of annual profits derived from intellectual property related to the Project to Canada for the period from March 31, 2014, to March 31, 2019. Payments must be submitted according to Schedule C, and interest is due on overdue amounts.
8. ACCOUNTS AND AUDIT - 8.1 Prior to the Completion Date of the Projeot and for five (5) years tbereifter the Proponent shall, at its own expense: - a) keep proper books. accounfs, and records of its revenue received and expenses Incurred...
AI summary The document outlines the Proponent's obligation to maintain detailed financial and technical records related to the Project for five years after its completion, including environmental impact data, and to allow Canada to audit these records and conduct technical audits to verify compliance with the Agreement.
C. FIn.1 Reports (FIn.ncial and ProgresSiTechnical): - i) The Proponent shall submit a financial report that shail demonstrate how the contribution was spent. As specified in the Paragraph 12.2 ofthl. Agreement, the Proponent shall provide...
AI summary The Proponent is required to submit a detailed financial and technical report on the Project, including a declaration of contributions received, a narrative of activities contributing to the Project's benefits, and a final report with sections such as executive summary, background, objectives, and cost tables. A fact sheet based on the report will also be prepared and posted on the NRCan website.