Common use of Bookkeeping and Reporting Clause in Contracts

Bookkeeping and Reporting. The Reseller (i) shall maintain up-to-date and detailed accounts and records on the accrual of revenue and sales related to the Products, and (ii) within five business days following the end of each month, make itemized reports on the accrual of revenue and sales and on the Product Inventory of the Reseller at the end of each month. The Reseller will permit MobileMail or a representative to examine and audit the Reseller's books and records during normal business hours for purposes of verification of the reported accrual of revenue, sales and inventory. If such an audit uncovers a deficiency in reporting, the Reseller shall immediately compensate such deficiency and bear the audit expenses and MobileMail shall be entitled to immediately terminate the Agreement upon written notice to the Reseller. Any and all statements or records or notes taken in relation to such examination shall be held in confidence as confidential information of the Reseller.