BOOKS OF ACCOUNT AND AUDITS. 8.1 The Licensee shall keep and make available for inspection upon reasonable notice (and shall procure that each End Customer keeps and makes available for inspection upon reasonable notice), both during and for twelve months after termination of this Agreement, proper, detailed books and records relating to (a) the use of all Musical Works and (b) any income or other consideration received by or on behalf of the Licensee in relation to the Licensed Services, together with any supporting documentation relating thereto covering the period up to six years prior to the date of notification of audit.
BOOKS OF ACCOUNT AND AUDITS. Davidson shall keep books of account relating to the distribution of Licensed Products on the same basis and in the same manner and for the same periods as such records are customarily kept by Davidson. IVI may, upon reasonable notice and at its own expense, audit the applicable records at Davidson's office, in order to verify any Royalty Statements rendered hereunder. Any such audit shall be conducted only by a certified public accountant who is not held on retainer by IVI nor working on a contingency fee and shall take place only during reasonable business hours and in such manner so as not to interfere with Davidson's normal business activities. However, no audit may be conducted during the first three (3) weeks of any calendar quarter. All of the information contained in Davidson's books and records shall be kept confidential except to the extent necessary to permit enforcement of IVI's rights hereunder, and IVI agrees that such information inspected and/or copied on behalf of IVI hereunder shall be used only for the purposes of determining the accuracy of the Royalty Statements, and shall be revealed only to such employees, agents and/or representatives of IVI as necessary to verify the accuracy of the Royalty Statements except to the extent necessary to permit enforcement of IVI's rights hereunder. Davidson shall be furnished with a copy of IVI's auditor report within thirty (30) days after the completion of such report. In no event shall an audit with respect to any Royalty Statement rendered hereunder commence after the date on which such Royalty Statement has become incontestable pursuant to Section 6(b) above nor shall any audit continue for longer than ten (10) consecutive business days nor shall audits be made hereunder more frequently than once annually nor shall the records supporting any such Royalty Statements be audited more than once. In addition, Davidson shall be responsible for all reasonable documented costs incurred by IVI to conduct such an examination should an underpayment of five (5%) percent or greater be discovered.
BOOKS OF ACCOUNT AND AUDITS. GoodTimes shall keep books of account relating to the distribution of Video Devices on the same basis and in the same manner and for the same periods as such records are customarily kept by GoodTimes. Media Net may, upon reasonable notice and at its own expense, audit the applicable records at GoodTimes' office, in order to verify statements rendered hereunder. Any such audit shall be conducted only by a certified public accountant or accounting professional, and take place during reasonable business hours and in such manner so as not to interfere with GoodTimes' normal business activities. However, no audit may be conducted during the first three (3) weeks of any calendar quarter. All of the information contained in GoodTimes' books and records shall be kept confidential, and Media Net agrees that such information inspected and/or copied on behalf of Media Net hereunder shall be used only for the purpose of determining the accuracy of the statements, and shall be revealed only to such officers, directors, employees, agents and/or representatives of Media Net as necessary to verify the accuracy of the statements. GoodTimes shall be furnished with a copy of Media Net's auditor's report within thirty (30) days after the completion of such report. In no event shall an audit with respect to any statement rendered hereunder commence after the date on which such statement has become incontestable pursuant to subsection 4.2 above nor shall any audit continue for longer than ten (10) consecutive business days nor shall audits be made hereunder more frequently than once annually nor shall the records supporting any such statements be audited more than once.
BOOKS OF ACCOUNT AND AUDITS. Licensee shall keep books of account (the “Books of Account”) relating to Licensee’s commercial use of the Authorized Copy on the basis of generally accepted accounting principles. Licensee shall maintain such Books of Account for a period of at least two (2) years after the expiration or earlier termination of this Agreement; provided, however, that Licensee shall not be required to keep such Books of Account longer than seven (7) years from their date of origination. Id Software may, upon reasonable notice and at its own expense, audit the applicable Books of Account at Licensee’s office, in order to verify the accuracy of Royalty statements rendered hereunder. Any such audit shall take place during reasonable business hours and in such manner so as not to unreasonably interfere with Licensee’s normal business activities. If in an audit of Licensee’s Books of Account it is determined that there is a short fall of ten percent (10%) or more in Royalties reported for any calendar month, in addition to payment of such short fall and interest as may be due, as provided herein, Licensee shall reimburse Id Software for the full out-of-pocket costs of the audit including reasonable travel costs and expenses; provided, however, that the amount of reimbursement paid by Licensee shall not exceed U.S. Fifteen Thousand Dollars ($15,000.00) for any audit.
BOOKS OF ACCOUNT AND AUDITS. (a) Licensee shall keep books of account relating to the distribution of the Products on the basis of generally accepted accounting principles and shall be maintained for a minimum period of two (2) years after the termination of this Agreement.
BOOKS OF ACCOUNT AND AUDITS. (a) SAND shall keep books of account relating to the distribution of the Products on the basis of generally accepted accounting principles and shall be maintained for a minimum period of two (2) years after the termination of the ISR license agreement.
