Payments and Accounting. Except as herein otherwise specifically provided, PDC shall promptly pay and discharge expenses incurred in the development and operation of the Contract Area pursuant to this agreement. PDC shall keep an accurate record of the account hereunder, showing expenses incurred and charges and credits made and received. Regardless of which party has contributed the lease(s) and/or oil and gas interest(s) hereto on which royalty is due and payable, PDC shall pay or deliver or cause to be paid or delivered the royalty and overriding royalty payments due under the terms associated with the acquisition of each Prospect, and shall deduct such payments from the revenue of the Partnership.
Payments and Accounting. (a) With respect to the royalties set forth herein, Purchaser shall keep full, clear and accurate records until otherwise provided in Section 11.2(b). These records shall be retained for a period of three (3) years from the date of payment notwithstanding the expiration or other termination of this License. Seller shall have the right, through a mutually agreed upon independent certified public accountant (consent to which shall not be unreasonably withheld or delayed by Purchaser), and at Seller’s expense, to examine and audit, not more than once a year, and during normal business hours, all such records and such other records and accounts as may under recognized accounting practices contain information bearing upon the amount of royalty payable to Seller under this License. Prompt adjustment shall be made by either party to compensate for any errors and/or omissions disclosed by such examination or audit. Should any such error and/or omission result in an underpayment of more than five percent (5%) of the total royalties due for the period under audit, Purchaser shall, upon Seller’s request, pay for the cost of the audit and pay Seller an additional fee equal to a compound annual interest rate of ten percent (10%) of such error and/or omission.
Payments and Accounting. With respect to the royalties set forth herein, Licensee shall keep complete and accurate records. These records shall be retained for a period of three (3) years from the date of payment, notwithstanding the expiration or other termination of this Agreement. Licensee agrees to permit its directly related financial records and accounts to be examined, not more than once a year, during normal business hours, to verify the amount of royalties payable to Licensor under this Agreement. Prompt adjustment shall be made by Licensee to Licensor corresponding to the net amount of any underpayment of royalties due hereunder. If such examination reveals an underpayment of more than five percent (5%), then Licensee shall promptly reimburse Licensor for the cost of the examination and for any amounts underpaid. Until full payment of the aggregate $500,000 royalty amount, the actual annual royalty payment shall be the greater of the total royalties generated from licenses or the minimum annual commitment.
Payments and Accounting. Except as otherwise specifically provided, Operator shall promptly pay and discharge expenses incurred in the development and operation of the Contract Area pursuant to this agreement and shall charge each of the Parties hereto with their respective proportionate shares upon the expense basis provided in Exhibit "B". Operator shall keep an accurate record of the joint account hereunder, showing expenses and charges and credits made and received. Operator may request advance payment of estimated expenses. If any party fails to pay its share of said estimated expenses within the time specified, the amount due shall bear interest as provided in Exhibit "B". Such request shall include a detail listing of the expenses to be covered by the advance payment. Exhibit "B" shall detail the accounting procedures for the Contract Area.
Payments and Accounting. 6.1. All payments hereunder shall be made in U.S. Dollars.
Payments and Accounting. Except as herein otherwise specifically provided, Operator shall promptly pay and discharge expenses incurred in the development and operation of the Contract Area pursuant to this agreement and shall charge each of the parties hereto with their respective proportionate shares upon the expense basis provided is Exhibit “C". Operator shall keep an accurate record of the joint account hereunder showing expenses incurred and charges and credits made and waived and received. Operator, at its election, shall have the right from tine to time to demand and receive from the other parties payment in advance of their respective shares of their respective shares of the estimated amount of the expense to be incurred in operations hereunder during the next succeeding month which right may be exercised only by submission to each such party of an itemized statement of such estimated expense, together with an invoice for its share thereof. Each such statement and invoice for the payment in advance of estimated expense shall be submitted on or before the 29th day of the next preceding month. Each party shall pay to Operator its proportionate share of such estimate within fifteen (15) days after such estimate and invoice is received. If any party fails to pay its share of said estimate within said time the amount due shall bear interest as provided in Exhibit "C” until paid. Proper adjustment shall be made monthly between advances and actual expense to the end that each party shall bear and pay its proportionate share of actual expenses incurred, and no more.
Payments and Accounting. 17 5.4 Royalties to Intel..................................................18 5.5 Warrant and Board Rights............................................20 5.6
Payments and Accounting. [*] Confidential treatment requested.
Payments and Accounting. 20 4.5 Withholding......................................... 21 4.6
Payments and Accounting. (a) In consideration of the grant of the License Criticare shall pay to Immtech during the term of this Agreement a royalty consisting of $100 per year.
