Common use of Accounting and Payment Clause in Contracts

Accounting and Payment. Within *** after every ---------- --- -------- anniversary date of the Agreement during the term hereof, from and after the date both parties agree that Licensed Products may be released for production, *** will render to *** a certified check (or other form of payment acceptable to ***) in the amount of all *** *** on account of activities of *** under the Agreement during the calendar year preceding the year in which such *** is required to be made. Further, *** will transmit to *** , accompanying each such payment, an accurate, itemized statement (certified upon request) setting forth in sufficient detail for verification, the basis upon which such *** is determined and made. All *** will be made to the order of *** in *** and will be payable at *** address as set forth in Article 13.