Common use of Bookkeeping and Auditing Clause in Contracts

Bookkeeping and Auditing. COMPANY is obliged to keep, and shall oblige its SUBLICENSEES to keep, complete and accurate books on any reports and payments due to [**] under this Agreement, which books shall contain sufficient information to permit [**] to confirm the accuracy of any reports and payments made to [**]. [**], or [**] appointed agents, is authorized to check the books of COMPANY, and, upon [**] request, COMPANY, or agents appointed by [**] for COMPANY, shall check the books of its SUBLICENSEES for [**], [**]. The charges for such a check shall be borne by [**]. In the event that such check reveals an underpayment in excess of 5% (five percent), COMPANY shall bear the full cost of such check and shall remit any amounts due to [**] within thirty days of receiving notice thereof from [**]. The right of auditing by [**] under this Section shall expire five years after each report or payment has been made. Sublicenses granted by COMPANY shall provide that COMPANY shall have the right to check the books of its SUBLICENSEES according to this Section 5.6.

Bookkeeping and Auditing. COMPANY is obliged to keep, and shall oblige its SUBLICENSEES to keep, complete and accurate books on any reports and payments due to [**] under this Agreement, which books shall contain sufficient information to permit [**] to confirm the accuracy of any reports and payments made to [**]. [**], or [**] appointed agents, is authorized to check the books of COMPANY, and, upon [**] request, COMPANY, or agents appointed by [**] for COMPANY, shall check the books of its SUBLICENSEES for [**], [**]. The charges for such a check shall be borne by [**]. In the event that such check reveals an underpayment in excess of 5% (five percent), COMPANY shall bear the full cost of such check and shall remit any amounts due to [**] within thirty days of receiving notice thereof from [**]. The right of auditing by [**] under this Section shall expire five years after each report or payment has been made. Sublicenses granted by COMPANY shall Execution Copy provide that COMPANY shall have the right to check the books of its SUBLICENSEES according to this Section 5.6.

Bookkeeping and Auditing. COMPANY is obliged to keep, and shall oblige its SUBLICENSEES to keep, complete and accurate books on any reports and payments due to [***] under this Agreement, which books shall contain sufficient information to permit [***] to confirm the accuracy of any reports and payments made to [***]. [***], or [***] appointed agents, is authorized to check the books of COMPANY, and, upon [***] request, COMPANY, or agents appointed by [***] for COMPANY, shall check the books of its SUBLICENSEES for [**], [**]. The charges for such a check shall be borne by [***]. In the event that such check reveals an underpayment in excess of 5% (five percent), COMPANY shall bear the full cost of such check and shall remit any amounts due to [***] within thirty days of receiving notice thereof from [***]. The right of auditing by [***] under this Section shall expire five years after each report or payment has been made. Sublicenses granted by COMPANY shall provide that COMPANY shall have the right to check the books of its SUBLICENSEES according to this Section 5.6.