Model Project Development Agreement Page 32
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88may require such confidential information in connection with the discharge of
their obligations under this Agreement.
9.1.3
Subject to the provisions of this Section 9.1, the Laws and policies of Nepal on
disclosure of the GON confidential information, each of the Parties shall, within a
reasonable period following receipt of a request, provide the other Party with such
information as that Party has available which is or may be necessary or useful to enable
such other Party to perform its obligations under this Agreement.
Accounts and reports
9.2
9.2.1
The Company shall prepare and maintain Records in the quality and quantity required
for facilitating efficient management and supervision of the Project, for providing
information to the GON, and for informing the public and the Company's customers of
the quality and performance of its operations and the Project.
9.2.2
The Company shall maintain complete and accurate records in Dollars (and, to the extent
required by the Laws of Nepal or by the board of directors of the Company, in Rupees),
accounting for all transactions relating to the Project. Financial records and accounts
shall be maintained in accordance with applicable generally accepted international
accounting principles as agreed to by the GON. Such records shall be subject to
inspection by the GON on reasonable notice.
9.2.3
Beginning on the Effective Date, the Company shall prepare and maintain current
Records of the Hydro Property in sufficient detail as required by the Company to
provide a full understanding of the state of the Project. Such Records shall include
physical drawings, databases and calculation sheets along with historical records
relating to their constitution, repairs, and maintenance, including all works carried out
as replacements, rehabilitation and maintenance.
9.2.4
The Company shall provide the GON, any GON Agency (if applicable), the Technical
Review Panel, the Project Task Force, the Project Coordination Committee, the Local
Project Co-ordination Committee, the Independent Engineer, the Handover Expert (as
defined in Schedule 2) and their respective designated representatives and agents with
copies of the records contemplated in this Section 9, as requested by such Person.
9.2.5
The Company shall provide the GON, any GON Agency (if applicable), the Technical
Review Panel, the Project Task Force, the Project Coordination Committee, the Local
Project Coordination Committee, the Independent Engineer, the Handover Expert and
their respective designated representatives and agents with any other information as
such Person may reasonably require, including:
(A)
immediate notification of disasters, accidents within the Project Area
causing loss of properties and lives, or serious injury;
(B)
immediate notification of incidents causing any pollution or other forms
of environmental damage;
(C)
immediate notification of material industrial relations issues; and
(D)
immediate notification of material public complaints.
9.2.6
The Company shall, at its own cost and expense, make arrangements reasonably
satisfactory to the GON with respect to the installation and operation of an accounting
and cost control system and a firm of independent chartered accountants as the auditor,
reasonably acceptable to the GON.
9.2.7
Within thirty five (35) Days following the Agreement Date, the Company shall, at its
own cost and expense, select and appoint an independent auditor pursuant to the Laws
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