Common use of Payments Audits Clause in Contracts

Payments Audits. 13.5.1 At the end of each quarter in which MP3 or the Company, respectively, actually receives payments of e-commerce transactions of the type described in Section 13.4 or advertising revenue of the type described in Section 13.4 or advertising revenue of the type described in Section 13.1.2, MP3 or the Company, as the * CONFIDENTIAL TREATMENT REQUEST(ED) -50- 159 case may be, shall prepare a quarterly statement providing sufficient detail regarding the source of such e-commerce transaction or advertising revenue and will deliver such statement along with the required payment described therein to the Company or MP3, respectively, no less than thirty (30) calendar days following such date. 13.5.2 MP3 and the Company shall each have the right, upon reasonable written notice to the other party, to inspect, or have its agent inspect, subject to such confidentiality requirements as may reasonably be imposed by the other party, such other party's books and records and all other documents and material in the possession of or under its control with respect to all amounts described in this Agreement at the place or places where such records are normally retained by MP3 or the Company, respectively. MP3 or the Company or their agents shall have free and full access thereto during normal business hours for such purposes and shall be permitted to be able to make copies thereof and extracts therefrom. In the event that an inspection reveals a discrepancy in the amount of any payments owed MP3 or the Company from what was actually paid, the Company or MP3 shall promptly pay such discrepancy. In the event that such discrepancy is in excess of five percent (5%) of the payments due for the period audited, the Company or MP3, as appropriate, shall reimburse the other party for the reasonable costs of performing the audit.

Payments Audits. 13.5.1 At the end of each quarter in which MP3 or the Company, respectively, actually receives payments of e-commerce transactions [***] of the type described in Section * CONFIDENTIAL TREATMENT REQUEST(ED) -50- 159 13.4 or advertising revenue of the type described in Section 13.4 or advertising revenue [***] of the type described in Section 13.1.2, MP3 or the Company, as the * CONFIDENTIAL TREATMENT REQUEST(ED) -50- 159 case may be, shall prepare a quarterly statement providing sufficient detail regarding the source of such e-commerce transaction or advertising revenue [***] and will deliver such statement along with the required payment described therein to the Company or MP3, respectively, no less than thirty (30) calendar days following such date. 13.5.2 MP3 and the Company shall each have the right, upon reasonable written notice to the other party, to inspect, or have its agent inspect, subject to such confidentiality requirements as may reasonably be imposed by the other party, such other party's books and records and all other documents and material in the possession of or under its control with respect to all amounts described in this Agreement at the place or places where such records are normally retained by MP3 or the Company, respectively. MP3 or the Company or their agents shall have free and full access thereto during normal business hours for such purposes and shall be permitted to be able to make copies thereof and extracts therefrom. In the event that an inspection reveals a discrepancy in the amount of any payments owed MP3 or the Company from what was actually paid, the Company or MP3 shall promptly pay such discrepancy. In the event that such discrepancy is in excess of five percent (5%) of the payments due for the period audited, the Company or MP3, as appropriate, shall reimburse the other party for the reasonable costs of performing the audit.