Common use of BOOKS OF ACCOUNT AND AUDIT Clause in Contracts

BOOKS OF ACCOUNT AND AUDIT. 8.1 The Licensee must keep accurate books of account and other records in sufficient detail to ensure that all amounts payable to APRA under this agreement can be properly ascertained. 8.2 APRA may, on 7 days’ notice, and no more than once in any 12 month period, examine the Licensee’s accounting and other records: (a) to determine the correctness of any report or payment under this agreement; or (b) in the case of a failure by the Licensee to provide any information under this agreement, to obtain information required to be provided under those paragraphs, and for this purpose is entitled to access all records of the Licensee or under its control, wherever held. 8.3 The Licensee must give APRA all reasonable assistance in its examination of the Licensee’s records under this clause 8. 8.4 Subject to clause 8.5 below, APRA must pay the costs of any examination of the Licensee’s records under this clause 8. 8.5 The Licensee must pay the cost of the examination if the examination: (a) establishes that the amounts payable under this agreement were understated by more than 5%; or (b) is undertaken under clause 8.2(b). 8.6 The Licensee may on 7 days’ notice examine APRA’s calculations of the Licensee’s Music Use Percentage. 8.7 APRA must give the Licensee all reasonable assistance in its examination of APRA’s calculations under clause 8.6. 8.8 APRA must pay the cost of the examination if the examination establishes that the Music Use Percentage Band is lower than that determined by APRA.