Common use of Auditable Records Clause in Contracts

Auditable Records. LICENSEE shall keep true, accurate and consistent records containing regular entries relating to the gross revenues derived from the use, offer for sale, sell, lease, rent and export of Licensed Products and Related Services, by country (if applicable). These records shall be available for examination during normal business hours by accountants representing BRUK, who shall be entitled to perform an audit and to make copies and extracts and to receive any explanations that may reasonably be requested. BRUK is responsible for payment of the accountant’s fee, except that LICENSEE shall be responsible for such fees in the event an examination discloses a discrepancy in BRUK’s favor of more than five (5) percent of the payment of total fees due under this Agreement.

Auditable Records. LICENSEE shall keep true, accurate and consistent records containing regular entries relating to the gross revenues derived from the use, offer for sale, sell, lease, rent and export of Licensed Products and Related Services, by country (if applicable). These records shall be available for examination during normal business hours by accountants representing BRUKXXXXXXXX, who shall be entitled to perform an audit and to make copies and extracts and to receive any explanations that may reasonably be requested. BRUK XXXXXXXX is responsible for payment of the accountant’s fee, except that LICENSEE shall be responsible for such fees in the event an examination discloses a discrepancy in BRUK’s XXXXXXXX’x favor of more than five (5) percent (5%) of the payment of total fees due under this Agreement.

Auditable Records. LICENSEE shall keep true, accurate and consistent records containing regular entries relating to the gross revenues derived from the use, offer for sale, sell, lease, rent and export of Licensed Products and Related Services, by country (if applicable). These records shall be available for examination during normal business hours by accountants representing BRUKXXXXXXXX, who shall be entitled to perform an audit and to make copies and extracts and to receive any explanations that may reasonably be requested. BRUK XXXXXXXX is responsible for payment of the accountant’s fee, except that LICENSEE shall be responsible for such fees in the event an examination discloses a discrepancy in BRUK’s XXXXXXXX’x favor of more than five (5) percent of the payment of total fees due under this Agreement.