Common use of Audit; Verification Clause in Contracts

Audit; Verification. During the Term and for one (1) year following any termination or expiration of the Master Agreement (but no more than once in a calendar year), Anchore and its auditors may inspect and audit Customer’s records relating to its reproduction and use of the Products for the purposes of verifying Customer’s compliance with the Master Agreement. Customer shall cooperate fully with Anchore and its auditors in conducting such inspections and audits and provide reasonable assistance. If an underpayment is discovered, Customer shall promptly pay the underpaid amount. If an underpayment of more than ten percent (10%) for the period audited is discovered, Customer shall promptly reimburse Anchore for the cost of the audit. In addition to Customer’s obligations in the immediately foregoing paragraph, at Anchore's request, Customer will promptly provide Anchore with a Software-generated report verifying that Customer is using the Software in accordance with the Master Agreement. Anchore will invoice Customer, and Customer promptly shall pay Anchore, for any access to and/or use of the Software in excess of that permitted in the applicable Order Form, effective from the date that such access and/or use first exceeded that permitted under such Order Form.

Audit; Verification. During the Term and for one (1) year following any termination or expiration of the Master Agreement (but no more than once in a calendar year), Anchore and its auditors may inspect and audit Customer’s records relating to its reproduction and use of the Products for the purposes of verifying Customer’s compliance with the Master Agreement. Customer shall cooperate fully with Anchore and its auditors in conducting such inspections and audits and provide reasonable assistance. If an underpayment is discovered, Customer shall promptly pay the underpaid amount. If an underpayment of more than ten percent (10%) for the period audited is discovered, Customer shall promptly reimburse Anchore for the cost of the audit. In addition to Customer’s obligations in the immediately foregoing paragraph, at At Anchore's request, Customer will promptly provide Anchore with a Software-generated report verifying that Customer is using the Software in accordance with the Master Agreement. Anchore will invoice Customer, and Customer promptly shall pay Anchore, for any access to and/or use of the Software in excess of that permitted in the applicable Order Form, effective from the date that such access and/or use first exceeded that permitted under such Order Form.