Records and Adjustments. Each Venturer is solely responsible for and shall separately keep records of his or her share of the adjusted basis in each oil and gas property of the Joint Venture, adjust such share of the adjusted basis for any depletion taken on such property, and use such adjusted basis each year in computing his or her cost depletion (if applicable) or his or her gain or loss on the disposition of such property by the Joint Venture. A Substitute Venturer shall succeed to the basis allocated to the transferor of his or her Unit(s).
Records and Adjustments a) The Licensee shall keep full, clear and accurate records with respect to all Licensed Products and shall furnish any information which Owner may reasonably request from time to time to enable Owner to ascertain the proper royalty due on account of (a) Licensed Products sold, leased and put into use by the Licensee or any of its Related Companies, and (b) services performed by Licensee or any of its Related Companies that directly or indirectly uses Licensed Product. Owner shall have the right through its accredited auditors to make an examination, during normal business hours, of all records and accounts bearing upon the amount of royalty payable to him. Prompt adjustment shall be made to compensate for any errors or omissions disclosed by such examination.
Records and Adjustments. (a) INTRALASE shall keep full, clear and accurate records with respect to all LICENSED PRODUCTS and shall furnish any information which AGERE may reasonably prescribe from time to time to enable AGERE to ascertain the proper royalty due hereunder on account of products sold, leased and put into use by INTRALASE or any of its RELATED COMPANIES. INTRALASE shall retain such records with respect to each LICENSED PRODUCT for at least five (5) years from the sale, lease or putting into use of such LICENSED PRODUCT. AGERE shall have the right through its accredited auditors no more than once every year to make an examination after notice of at least thirty (30) days, during normal business hours, of all records and accounts bearing upon the amount of royalty payable to it hereunder. Prompt adjustment shall be made to compensate for any errors or omissions disclosed by such examination, provided AGERE gives INTRALASE notice, in writing, of such underpayment within thirty (30) days of the completion of such audit. Such notice shall contain the report of such auditors and shall include the data which formed the *** Material has been omitted pursuant to a request for confidential treatment. basis for such underpayment calculation. AGERE shall be responsible for all its costs of an audit unless the audit revealed an underpayment by INTRALASE of at least ten percent (10%) for the audited period. In such an event, INTRALASE shall be responsible for AGERE’s reasonable out-of-pocket costs for such accredited auditors to conduct the audit.
Records and Adjustments. Landlord shall keep records showing all expenditures made in connection with Operating Costs and Taxes, and such records shall be available for inspection by Tenant for a period of one hundred twenty (120) days after receipt of the statement of actual costs ("Record Review Period"); Landlord and Tenant agree the results of any such audit or review shall remain confidential. Tenant hereby waives any right to any adjustment of sums paid under this Section 10 unless a claim in writing specifying the reasons therefor is delivered to Landlord no later than sixty (60) days after the Record Review Period for the year for which the sums were paid. Operating Costs and Taxes shall be prorated for any portion of a year at the beginning or end of the term of this Lease. Notwithstanding this Section 10, the Rent payable by Tenant shall in no event be less than the Rent specified in Section 1(h) hereof.
Records and Adjustments. (a) WS shall keep full, clear and accurate records with respect to all LICENSED PRODUCTS and shall furnish any information which LUCENT GRL may reasonably prescribe from time to time to enable LUCENT GRL to ascertain the proper royalty due hereunder on account of products sold, leased and put into use by WS or any of its RELATED COMPANIES. Such records should include all records showing revenues attributable to the sale, lease or furnishing of any LICENSED PRODUCTS prior to reaching the Royalty Accrual Level. WS shall retain such records with respect to each LICENSED PRODUCT for at least seven (7) years from the sale, lease or putting into use of such LICENSED PRODUCT. LUCENT GRL shall have the right through its accredited auditors and at its own expense, to make an examination, during normal business hours and upon reasonable notice and no more than once in any twelve (12) month period, of all records and accounts bearing upon the amount of royalty payable to it hereunder. Adjustment shall be made within sixty (60) days to compensate for any errors or omissions disclosed by such examination.
Records and Adjustments. Each written statement of actual costs ----------------------- given by Landlord to Tenant pursuant to Section 10(d) shall be conclusive and binding upon Tenant unless within ninety (90) days after the receipt of such statement Tenant shall notify Landlord in writing that it disputes the correctness of the statement, specifying the particular respects in which the statement is claimed to be incorrect. If such disputes shall not have been settled by agreement, Tenant, within thirty (30) days of receipt of such statement, shall pay Additional Rent in accordance with the statement, without prejudice to Tenant's favor. If the dispute shall be determined in Tenant's favor, Landlord shall forthwith pay to Tenant the amount of Tenant's overpayment of rents resulting from compliance with the statement. Tenant may, within ninety (90) days after the receipt of such statements, upon thirty (30) days prior notice to Landlord, cause a complete audit to be made of Landlord's records regarding Operating Costs for the prior Year. If the audit discloses that Operating Costs have been over-reported to the extent of five percent (5%) or more on an annual basis for such Year, Landlord shall pay the reasonable costs of the audit and actual Operating Costs for that Year shall be adjusted accordingly.
Records and Adjustments. Landlord shall keep records showing all expenditures made in connection with operating costs and taxes, and such records shall be available for inspection by Tenant. Operating costs and taxes shall be prorated for any portion of a year at the beginning or end of the term of this Lease. Notwithstanding this Section 10, the Rent payable by Tenant shall in no event be less than the Rent specified in Section 1(h) hereof.
Records and Adjustments. (a) Licensee shall keep full, clear and accurate records with respect to (i) any and all Licensed Activities and Licensed Products and (ii) any and all Direct Revenue, Indirect Revenue and Excluded Revenue, and shall furnish any information which Nokia may reasonably prescribe from time to time to enable Nokia to ascertain the proper fee amounts due hereunder on account of the Licensed Activities and selling, leasing or putting into use of Licensed Products. Licensee shall retain such records with respect to (i) any and all Licensed Activities and each Licensed Product for at least five (5) years from the date of such Licensed Activities or the sale, lease or putting into use of such Licensed Product, and (ii) any and all Direct Revenue, Indirect Revenue and Excluded Revenue for at least five (5) years from the date of having earned such revenue. Not more than once per calendar year, Nokia shall have the right through accredited auditors to make an examination, following advance notice and during normal business hours, of all records and accounts bearing upon the amount of royalty payable to it hereunder (including but not limited to any and all records and accounts relating to Direct Revenue, Indirect Revenue and Excluded Revenue), and the audit results will be maintained as confidential among the auditors and Nokia pursuant to Section 5.14 of this Agreement. Adjustments shall be made within sixty (60) days to compensate for any errors or omissions disclosed by such examination. If such audit discloses a reported error of four percent (4%) or greater with respect to the reported sums paid to Nokia by Licensee during the applicable period subject to such audit, Licensee shall fully reimburse Nokia, promptly upon demand, for the reasonable fees and disbursements for completing such audit. Otherwise, Nokia shall be responsible for the cost of each such audit.
Records and Adjustments. (a) GCAST shall keep full, clear and accurate records with respect to all LICENSED PRODUCTS sold, leased or otherwise disposed of and sublicenses granted pursuant to Section 2.03 and shall furnish any relevant information which LUCENT may reasonably prescribe from time to time to enable LUCENT to ascertain the proper royalty due hereunder on account of LICENSED PRODUCTS sold, leased and otherwise disposed of by GCAST or any of its SUBSIDIARIES and on account of sublicenses granted, by GCAST hereunder. GCAST shall retain such records for at least seven (7) years from the granting of each sublicense and from the **Confidential treatment has been requested with respect to certain information contained in this document. Confidential portions have been omitted from the public filing and have been filed separately with the Securities and Exchange Commission. 10 sale, lease or putting into use of such LICENSED PRODUCTS. No more than once per year, LUCENT shall have the right through its mutually acceptable accredited auditors to make an examination, during normal business hours, of all records and accounts bearing upon the amount of royalty payable to it hereunder provided that such auditors agree to maintain the confidentiality of such records and accounts. Prompt adjustment shall be made to compensate for any errors or omissions disclosed by such examination. In the event that a previous audit has revealed a deficiency of greater than five percent (5%) of the total amount owed LUCENT over at least a year, LUCENT may audit GCAST twice per year in the manner provided above.
Records and Adjustments. (a) LUCENT-GRL will credit to COMDIAL the amount of any overpayment of royalties made in error which is identified and fully explained in a written notice to LUCENT-GRL delivered within two (2) years after the due date of the payment which included such alleged overpayment, provided that LUCENT-GRL is able to verify the existence and extent of the overpayment.
