Common use of Book and Records Clause in Contracts

Book and Records. Reseller agrees to maintain adequate books and records relating to the distribution of Products to End User Customers. Such books and records shall be available at their place of keeping for inspection by Vendor or its representative, for the purpose of determining whether the correct fees have been paid to Vendor in accordance with the terms of this Agreement, and whether Reseller has otherwise complied with the terms of this Agreement. Vendor shall have the right to conduct such an audit upon ten (10) days advance notice twice each year. In the event that such an audit discloses an underpayment of more than five percent (5%), then Reseller shall pay the costs of such audit.

Book and Records. Reseller agrees to maintain adequate books and records relating to the distribution of Products to End User CustomersVendor Client. Such books and records shall be available at their place of keeping for inspection by Vendor or its representative, for the purpose of determining whether the correct fees have been paid to Vendor in accordance with the terms of this Agreement, and whether Reseller has otherwise complied with the terms of this Agreement. Vendor shall have the right to conduct such an audit upon ten (10) days advance notice twice each year. In the event that such an audit discloses an underpayment of more than five percent (5%), then Reseller shall pay the costs of such audit.