Common use of Audit and Reporting Clause in Contracts

Audit and Reporting. Dassault Systemes shall, for two years following each transaction that is subject to royalty payments pursuant to Section 5.1, keep true and accurate records and books of account of such transaction containing all particulars which may be necessary for the purpose of auditing payments to PlanetCAD under this Agreement. During such two year period, and upon reasonable notice to Dassault Systemes, PlanetCAD shall have the right to have an audit conducted through a licensed independent accounting firm, of any billxxxx, xxllections, and taxes on such itemized statement, and to examine the records and books of account of Dassault Systemes in connection therewith. Dassault Systemes will bear the costs of such audit if a discrepancy or error of computation in an amount greater than USD 10,000 in favor of PlanetCAD is identified. Any audit conducted pursuant to this Section 5.6 shall not be conducted in such a manner as to unreasonably interfere with the Dassault Systemes' operations and in no event shall an audit be conducted more frequently than once each year.

Audit and Reporting. Dassault Systemes shall, during and for two years following after the termination of this Agreement, regarding the distribution of the Products to each transaction that is subject to royalty payments pursuant to Section 5.1User, keep true and accurate records and books of account of such transaction containing all particulars which may be necessary for the purpose of auditing payments to PlanetCAD under this Agreement. During such two year period, and upon reasonable notice to Dassault Systemes, PlanetCAD shall have the right to have an audit conducted through a licensed independent accounting firm, of any billxxxx, xxllections, and taxes on such itemized statement, and to examine the records and books of account of Dassault Systemes in connection therewith. Dassault Systemes will bear the costs of such audit if a discrepancy or error of computation in an amount greater than USD $10,000 in favor of PlanetCAD is identified. Any audit conducted pursuant to this Section 5.6 6.2 shall not be conducted in such a manner as to unreasonably interfere with the Dassault Systemes' operations and in no event shall an audit be conducted more frequently than once each a year.

Audit and Reporting. Dassault Systemes shall, for two years following each transaction that is subject to royalty payments pursuant to Section SECTION 5.1, keep true and accurate records and books of account of such transaction containing all particulars which may be necessary for the purpose of auditing payments to PlanetCAD under this Agreement. During such two year period, and upon reasonable notice to Dassault Systemes, PlanetCAD shall have the right to have an audit conducted through a licensed independent accounting firm, of any billxxxxxxxxxxxx, xxllectionscollections, and taxes on such itemized statement, and to examine the records and books of account of Dassault Systemes in connection therewith. Dassault Systemes will bear the costs of such audit if a discrepancy or error of computation in an amount greater than USD 10,000 in favor of PlanetCAD is identified. Any audit conducted pursuant to this Section SECTION 5.6 shall not be conducted in such a manner as to unreasonably interfere with the Dassault Systemes' operations and in no event shall an audit be conducted more frequently than once each year.

Audit and Reporting. Dassault Systemes shall, during and for two years following after the termination of this Agreement, regarding the distribution of the Products to each transaction that is subject to royalty payments pursuant to Section 5.1User, keep true and accurate records and books of account of such transaction containing all particulars which may be necessary for the purpose of auditing payments to PlanetCAD under this Agreement. During such two year period, and upon reasonable notice to Dassault Systemes, PlanetCAD shall have the right to have an audit conducted through a licensed independent accounting firm, of any billxxxxxxxxxxxx, xxllectionscollections, and taxes on such itemized statement, and to examine the records and books of account of Dassault Systemes in connection therewith. Dassault Systemes will bear the costs of such audit if a discrepancy or error of computation in an amount greater than USD $10,000 in favor of PlanetCAD is identified. Any audit conducted pursuant to this Section 5.6 SECTION 6.2 shall not be conducted in such a manner as to unreasonably interfere with the Dassault Systemes' operations and in no event shall an audit be conducted more frequently than once each a year.