Common use of Collecting License Consideration Clause in Contracts

Collecting License Consideration. The Managing Party shall have the responsibility, obligation and authority to diligently manage, administer and enforce the Licensee’s performance of the License Agreement, including without limitation, receiving and collecting the License Consideration payable under the License Agreement, and performing such audit under the License Agreement as the Managing Party deems appro­priate. The Managing Party shall keep the Other Parties fully and promptly informed as to all receipts of the License Consideration in accordance with Section 5.4. The Managing Party shall keep the Other Parties reasonably informed of any material delinquencies, deficiencies or defaults by the Licensee in performing the License Agreement.

Collecting License Consideration. The Managing Party shall have the responsibility, obligation and authority to diligently manage, administer and enforce the Licensee’s performance of the License Agreement, including without limitation, receiving and collecting the License Consideration payable under the License Agreement, and performing such audit under the License Agreement as the Managing Party deems appro­priateappropriate. The Managing Party shall keep the Other Parties fully and promptly informed as to all receipts of the License Consideration in accordance with Section 5.4. The Managing Party shall keep the Other Parties reasonably informed of any material delinquencies, deficiencies or defaults by the Licensee in performing the License Agreement.