REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests or the commercial service of the Game. 6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen (15) days after the end of the applicable month. Such report shall be in writing and discuss Licensee’s business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts for the pertinent month, the amounts spent on advertising activities, complaints received from End Users and market trends in the Territory. 6.3 Licensee shall keep all of their records, contractual and accounting documents and company documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five (5) years after the expiration or termination of this Agreement. 6.4 During the term of this Agreement and for five (5) years after the expiration or termination hereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licensee. For this purpose, Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit. 6.5 All expenses incurred for such investigation and audit shall be borne by Licensor. 6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Payment amount, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) below.
Appears in 4 contracts
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.), Game License Agreement (GRAVITY Co., Ltd.), Exclusive Game License Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged the information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen twenty (1520) days after of the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number list of End-Users including the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts Service-Sales Amounts for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their its records, contractual and accounting documents and company documents in relation to its business and other activities related to under this Agreement in its principal offices offices, during the term of this Agreement and for not less than five two (52) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five One (51) years year after the expiration or termination hereofthereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licenseebusiness. For this purpose, Licensor may request Licensee to produce the relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 . All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If Licensor unless such investigation and audit reveals underpayment by greater than five one percent (51%) of the annual Royalty Payment amount, in which case Licensee shall bear all expenses for such investigation and audit and shall immediately also promptly pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to eighteen (18% %) percent thereof. [In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article Section 13.3(b) below.
Appears in 2 contracts
Samples: Exclusive License and Distribution Agreement, License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen (15) days after the end of the applicable month. Such report shall be in writing and discuss Licensee’s business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts for the pertinent month, the amounts spent on advertising activities, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their records, contractual and accounting documents and company documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five (5) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five (5) years after the expiration or termination hereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licensee. For this purpose, Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Payment amount, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to eighteen percent (18% percent %) thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) below.
Appears in 2 contracts
Samples: Exclusive License and Distribution Agreement, Exclusive License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 7.1 Licensee shall provide Licensor with all relevant and non-privileged the information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of after its launch of the beta tests or service and the commencement of the commercial service of the Game.
6.2 7.2 Licensee shall provide Licensor with a monthly report (the “"Monthly Report”") within fifteen twenty (1520) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, Game including but not limited to, to the number list of End-Users including the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts for sale revenue of the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefor, complaints received from End Users and market trends in the Territory.
6.3 7.3 Licensee shall keep all of their recordsits record, contractual and accounting documents and company documents in relation to its business and other activities related to under this Agreement in its principal offices offices, during the term of this Agreement and for not less than five (5) two years after the expiration or termination of this Agreement.
6.4 7.4 During the term of this Agreement and for five two (52) years after the expiration or termination hereofthereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit all of the accounting company documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licenseebusiness. For this purpose, Licensor may request Licensee to produce the relevant documents, and may visit Licensee’s 's office and make copies of Licensee’s 's documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 . All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If Licensor unless such investigation and audit reveals underpayment by greater than five percent (5%) % of the annual Royalty Payment required royalty amount, in which case Licensee shall bear all expenses for such investigation and audit and shall immediately also promptly pay to Licensor the unpaid amount together with a per annum [18] % default interest thereon equivalent to 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) belowthereon.
Appears in 1 contract
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged the information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of after its launch of the beta tests or service and the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “"Monthly Report”") within fifteen (15) days after the end of the applicable month. Such report shall be in writing and discuss Licensee’s on its business activities in relation to the Game, including, Game including but not limited to, to the number list of End-Users including the maximum and average number of concurrent End-Users, the fees prices charged by Licensee, the total service amounts for sale revenue of the pertinent month, Service-Sales Amount of the amounts spent on pertinent month, advertising activitiesactivities and the expenses therefor, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their recordsits record, contractual and accounting documents and company documents in relation to its business and other activities related to under this Agreement in its principal offices offices, during the term of this Agreement and for not less than five (5) two years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five two (52) years after the expiration or termination hereofthereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit all of the accounting company documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licenseebusiness. For this purpose, Licensor may request Licensee to produce the relevant documents, and may visit Licensee’s 's office and make copies of Licensee’s 's documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 . All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If Licensor unless such investigation and audit reveals underpayment by greater than five percent (5%) % of the annual Royalty Payment required royalty amount, in which case Licensee shall bear all expenses for such investigation and audit and shall immediately also promptly pay to Licensor the unpaid amount together with a per annum [18%] default interest thereon equivalent to 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) belowthereon.
Appears in 1 contract
Samples: Exclusive License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to the development of its business in relation to the GameLocal Version. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests or the commercial service of the GameLocal Version.
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen Ten (1510) days after the end of the applicable month. Such report shall be in writing and discuss Licensee’s business activities in relation to the GameLocal Version, including, but not limited to, the number of End-Users including the calculation of the Gross Sales Amount, the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts for the pertinent month, the amounts spent on advertising activities, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their records, contractual and accounting documents and company documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five (5) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five (5) years after the expiration or termination hereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licensee. For this purpose, Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Payment amountamount for any Royalty Period, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) below.
Appears in 1 contract
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen (15) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-UsersEnd User, the fees charged by Licensee, the total service amounts for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their records, contractual and including all contractual, accounting documents and documents, company related documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five Five (5) years year after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five Five (5) years year after after the expiration or termination hereof, Licensor may and/or Character Licensor may, subject to prior written Licensee’s consent, by itself or through an accountant designated by Licensor and/or Character Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licensee. For this purpose, Licensor and/or Character Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual monthly Royalty Payment amount, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to Eighteen percent (18% percent %) thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to to, after prior discussion with Licensee, terminate this Agreement pursuant to Article 13.3(b) below.
Appears in 1 contract
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee Level Up! shall provide Licensor Gravity with all relevant and non-privileged the information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee Level Up! shall inform Licensor Gravity promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 Licensee Level Up! shall provide Licensor Gravity with a monthly report (the “Monthly Report”) within fifteen twenty (1520) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number list of End-Users including the maximum and average number of concurrent End-Users, the fees charged by LicenseeLevel Up!, the total service amounts Service-Sales Amounts for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users and market trends in the Territory.
6.3 Licensee Level Up! shall keep all of their its records, contractual and accounting documents and company documents in relation to its business and other activities related to under this Agreement in its principal offices offices, during the term of this Agreement and for not less than five two (52) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five two (52) years after the expiration or termination hereofthereof, Licensor Gravity may by itself or through an accountant designated by Licensor Gravity investigate and audit the accounting documents of Licensee Level Up! with respect to its Game business upon seven (7) days prior written notice to Licenseebusiness. For this purpose, Licensor Gravity may request Licensee Level Up! to produce the relevant documents, and may visit LicenseeLevel Up!’s office and make copies of LicenseeLevel Up!’s documents. Licensee Level Up! shall provide all assistance and co-operation required by Licensor Gravity for such investigation and audit.
6.5 . All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If Gravity unless such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Payment Copyright amount, Licensee in which case Level Up! shall bear all expenses for such investigation and audit and shall immediately also promptly pay to Licensor Gravity the unpaid amount together with a per annum default interest thereon equivalent to 18% twelve (12%) percent thereof. In the event of LicenseeLevel Up!’s understatement of the Royalty Payment Copyright amount without any justifiable reasons, Licensor Gravity shall be entitled to terminate this Agreement pursuant to Article Section 13.3(b) below.
Appears in 1 contract
Samples: Authorization to Use and Distribute Software Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen (15) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-UsersEnd User, the fees charged by Licensee, the total service amounts for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses thereof, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their records, contractual and including all contractual, accounting documents and documents, company related documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five (5) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five (5) years after the expiration or termination hereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven fourteen (714) days prior written notice to Licensee. For this purpose, Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual monthly Royalty Payment amount, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) below.
Appears in 1 contract
Samples: Exclusive License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen (15) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-UsersEnd User, the fees charged by Licensee, the total service amounts for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their records, contractual and including all contractual, accounting documents and documents, company related documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five (5) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five (5) years after the expiration or termination hereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven fourteen (714) days prior written notice to Licensee. For this purpose, Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and auditaudit at no cost to Licensee.
6.5 All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Payment amount, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article Section 13.3(b) below.
Appears in 1 contract
Samples: Exclusive License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged the information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “"Monthly Report”") within fifteen twenty (1520) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts Service-Sales Amounts for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their its records, contractual and accounting documents and company documents in relation to its business and other activities related to under this Agreement in its principal offices offices, during the term of this Agreement and for not less than five two (52) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five two (52) years after the expiration or termination hereofthereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licenseebusiness. For this purpose, Licensor may request Licensee to produce the relevant documents, and may visit Licensee’s 's office and make copies of Licensee’s 's documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 . All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If Licensor unless such investigation and audit reveals underpayment by greater than five ten percent (510%) of the annual Royalty Payment amount, in which case Licensee shall bear all expenses for such investigation and audit and shall immediately also promptly pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to 18% eight (8%) percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) below.
Appears in 1 contract
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 7.1 Licensee shall provide Licensor with all relevant and non-privileged the information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of after its launch of the beta tests or service and the commencement of the commercial service of the Game.
6.2 7.2 Licensee shall provide Licensor with a monthly report (the “"Monthly Report”") within fifteen (15) days after the end of the applicable month. Such report shall be in writing and discuss Licensee’s on its business activities in relation to the Game, including, Game including but not limited to, to the number list of End-Users including the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts for sale revenue of the pertinent monthmonth including the sale of the Distribution Package, advertising activities and the amounts spent on advertising activitiesexpenses therefor, complaints received from End Users and market trends in the Territory.
6.3 7.3 Licensee shall keep all of their recordsits record, contractual and accounting documents and company documents in relation to its business and other activities related to under this Agreement in its principal offices offices, during the term of this Agreement and for not less than five (5) two years after the expiration or termination of this Agreement.
6.4 7.4 During the term of this Agreement and for five two (52) years after the expiration or termination hereofthereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit all of the accounting company documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licenseebusiness. For this purpose, Licensor may request Licensee to produce the relevant documents, and may visit Licensee’s 's office and make copies of Licensee’s 's documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 . All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If Licensor unless such investigation and audit reveals underpayment by greater than five percent (5%) % of the annual Royalty Payment required royalty amount, in which case Licensee shall bear all expenses for such investigation and audit and shall immediately also promptly pay to Licensor the unpaid amount together with a per annum [18] % default interest thereon equivalent to 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) belowthereon.
Appears in 1 contract
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen (15) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-UsersEnd User, the fees charged by Licensee, the total service amounts for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their records, contractual and including all contractual, accounting documents and documents, company related documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five Five (5) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five Five (5) years after the expiration or termination hereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven fourteen (714) days prior written notice to Licensee. For this purpose, Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Payment amount, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) below.
Appears in 1 contract
Samples: Exclusive License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 7.1 Licensee shall provide Licensor with all relevant and non-privileged the information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 7.2 Licensee shall provide Licensor with a monthly report (the “"Monthly Report”") within fifteen twenty (1520) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number list of End-Users including the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts sales revenue for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users and market trends in the Territory.
6.3 7.3 Licensee shall keep all of their its records, contractual and accounting documents and company documents in relation to its business and other activities related to under this Agreement in its principal offices offices, during the term of this Agreement and for not less than five two (52) years after the expiration or termination of this Agreement.
6.4 7.4 During the term of this Agreement and for five two (52) years after the expiration or termination hereofthereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit all of the accounting company documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licenseebusiness. For this purpose, Licensor may request Licensee to produce the relevant documents, and may visit Licensee’s 's office and make copies of Licensee’s 's documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 . All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If Licensor unless such investigation and audit reveals underpayment by greater than five percent (5%) % of the annual Royalty Payment amount, in which case Licensee shall bear all expenses for such investigation and audit and shall immediately also promptly pay to Licensor the unpaid amount together with a per annum [18] % default interest thereon equivalent to 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) belowthereon.
Appears in 1 contract
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen (15) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-UsersEnd User, the fees charged by Licensee, the total service amounts for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their records, contractual and including all contractual, accounting documents and documents, company related documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five (5) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five (5) years after the expiration or termination hereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven fourteen (714) days prior written notice to Licensee. For this purpose, Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Payment amount, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article Section 13.3(b) below.
Appears in 1 contract
Samples: Exclusive License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen (15) days after the end of the applicable month. Such report shall be in writing and discuss Licensee’s business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts for the pertinent month, the amounts spent on advertising activities, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their records, contractual and accounting documents and company documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five (5) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five (5) years after the expiration or termination hereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licensee. For this purpose, Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Payment amount, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to 18% twelve (12%) percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) below.
Appears in 1 contract
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen (15) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-UsersEnd User, the fees charged by Licensee, the total service amounts for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users and market trends in the Territory.
6.3 Licensee Both Parties shall keep all of their records, contractual and including all contractual, accounting documents and documents, company related documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five three (53) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five three (53) years after the expiration or termination hereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven fourteen (714) days prior written notice to Licensee. For this purpose, Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and auditaudit at no cost to Licensee.
6.5 All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Payment amount, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) below.
Appears in 1 contract
Samples: Exclusive License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee Level Up! shall provide Licensor Gravity with all relevant and non-privileged information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee Level Up! shall inform Licensor Gravity promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 Licensee Level Up! shall provide Licensor Gravity with a monthly report (the “Monthly Report”) within fifteen (15) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-UsersEnd User, the fees charged by LicenseeLevel Up!, the total service amounts Gross Sales Amount for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users and market trends in the Territory. The Parties shall mutually agree on the format for this report.
6.3 Licensee Both Parties shall keep all of their records, contractual and including all contractual, accounting documents and documents, company related documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five (5) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five (5) years after the expiration or termination hereof, Licensor Gravity may by itself or through an accountant designated by Licensor Gravity investigate and audit the accounting documents of Licensee Level Up! with respect to its the Game business upon seven fourteen (714) days prior written notice to LicenseeLevel Up!. For this purpose, Licensor Gravity may request Licensee Level Up! to produce relevant documents, and may visit LicenseeLevel Up!’s office and make copies of LicenseeLevel Up!’s documents. Licensee Level Up! shall provide all reasonable assistance and co-operation required by Licensor Gravity for such investigation and auditaudit at no cost to Level Up!.
6.5 All expenses incurred for such investigation and audit shall be borne by LicensorGravity.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Copyright Payment amount, Licensee Level Up! shall bear all expenses for such investigation and audit and shall immediately pay to Licensor Gravity the unpaid amount together with a per annum default interest thereon equivalent to 1812% percent thereof. In the event of LicenseeLevel Up!’s understatement of the Royalty Copyright Payment amount without any justifiable reasons, Licensor Gravity shall be entitled to terminate this Agreement pursuant to Article Section 13.3(b) below.
Appears in 1 contract
Samples: Authorization to Use and Distribute Software Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to on the development of its business in relation to the Game. Without limiting , which shall mean any information to be reported to Licensor for the generality calculation of the foregoingRoyalty Payment under Article 6.2 hereof and subject to Licensor’s audit in accordance with this Agreement. For the avoidance of doubt, however, Licensee shall inform does not have to provide any personal information or personal data(hereinafter referred to as the “Personal Information”) prohibited to provide Licensor promptly with, in the event Japanese law of its launch of the beta tests or the commercial service of the Game“Law on Personal Information Protection” .
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen Twenty (1520) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-UsersEnd User, the fees charged by Licensee, the total service amounts for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users Users, market trend and market trends in any other information necessary to calculate the Territory.Royalty Payment (excluding Personal Information)..
6.3 Licensee shall keep all of their records, contractual and including all contractual, accounting documents and documents, company related documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five (5) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five (5) years after the expiration or termination hereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven fourteen (714) days prior written notice to Licensee. For this purpose, Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual monthly Royalty Payment amount, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to eighteen percent 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasonswith wilfulness or negligence of Licensee, Licensor shall be entitled to terminate this Agreement pursuant to Article Section 13.3(b) below.
Appears in 1 contract
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee XXXXX shall provide Licensor Gravity with all relevant and non-privileged information pertaining to the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee XXXXX shall inform Licensor Gravity promptly in the event of its launch of the beta tests or the commercial service of the Game.
6.2 Licensee XXXXX shall provide Licensor Gravity with a monthly report (the “Monthly Report”) within fifteen (15) days after the end of the applicable month. Such report shall be in writing and discuss LicenseeLUISA’s business activities in relation to the Game, including, but not limited to, the number of End-Users including the maximum and average number of concurrent End-Users, the fees charged by LicenseeXXXXX, the total service amounts for the pertinent month, the amounts spent on advertising activities, complaints received from End Users and market trends in the Territory.
6.3 Licensee XXXXX shall keep all of their records, contractual and accounting documents and company documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five (5) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five (5) years after the expiration or termination hereof, Licensor Gravity may by itself or through an accountant designated by Licensor Gravity investigate and audit the accounting documents of Licensee XXXXX with respect to its Game business upon seven (7) days prior written notice to LicenseeXXXXX. For this purpose, Licensor Gravity may request Licensee XXXXX to produce relevant documents, and may visit LicenseeLUISA’s office and make copies of LicenseeLUISA’s documents. Licensee XXXXX shall provide all assistance and co-operation required by Licensor Gravity for such investigation and audit.
6.5 All expenses incurred for such investigation and audit shall be borne by LicensorGravity.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Copyright Payment amount, Licensee XXXXX shall bear all expenses for such investigation and audit and shall immediately pay to Licensor Gravity the unpaid amount together with a per annum default interest thereon equivalent to 18% twelve percent (12%) thereof. In the event of LicenseeLUISA’s understatement of the Royalty Copyright Payment amount without any justifiable reasons, Licensor Gravity shall be entitled to terminate this Agreement pursuant to Article 13.3(b) below.
Appears in 1 contract
Samples: Exclusive Authorization and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen twenty (1520) days after the end of the applicable month. Such report shall be in writing and discuss Licensee’s business activities in relation to the Game, including, but not limited to, the number a list of End-Users including the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts for the pertinent month, the amounts spent on advertising activities, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their records, contractual and accounting documents and company documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five (5) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five (5) years after the expiration or termination hereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licensee. For this purpose, Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and auditaudit at no cost to Licensee.
6.5 All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Payment amount, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to eighteen percent (18% percent %) thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) below.
Appears in 1 contract
Samples: Exclusive Software License Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 8.1 Licensee shall provide Licensor with all relevant and non-privileged the information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of after its launch of the beta tests or service and the commencement of the commercial service of the Game.
6.2 8.2 Licensee shall provide Licensor with a monthly report (the “"Monthly Report”") within fifteen (15) days after the end of the applicable month. Such report shall be in writing and discuss Licensee’s on its business activities in relation to the Game, including, Game including but not limited to, to the number list of End-Users including the maximum and average number of concurrent End-End Users, the fees charged by Licensee, the total service amounts for sale revenue of the pertinent monthmonth including the sale of the Special Edition Package, advertising activities and the amounts spent on advertising activitiesexpenses therefor, complaints received from End Users and market trends in the Territory.
6.3 8.3 Licensee shall keep all of their recordsits record, contractual and accounting documents and company documents in relation to its business and other activities related to under this Agreement in its principal offices offices, during the term of this Agreement and for not less than five two (52) years after the expiration or termination of this Agreement.
6.4 8.4 During the term of this Agreement and for five two (52) years after the expiration or termination hereofthereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit all of the accounting company documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licenseebusiness. For this purpose, Licensor may request Licensee to produce the relevant documents, and may visit Licensee’s 's office and make copies of Licensee’s 's documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 . All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If Licensor unless such investigation and audit reveals underpayment by 5% or greater than five percent (5%) of the annual Royalty Payment required royalty amount, in which case Licensee shall bear all expenses for such investigation and audit and shall immediately also promptly pay to Licensor the unpaid amount together with a per annum [18] % default interest thereon equivalent to 18% percent thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) belowthereon.
Appears in 1 contract
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged information pertaining to the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “Monthly Report”) within fifteen (15) days after the end of the applicable month. Such report shall be in writing and discuss Licensee’s business activities in relation to the Game, including, but not limited to, the number of End-End Users including the maximum and average number of concurrent End-End Users, the fees charged by Licensee, the total service amounts for the pertinent month, the amounts spent on advertising activities, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their records, contractual and accounting documents and company documents in relation to its business and other activities related to this Agreement in its principal offices during the term of this Agreement and for not less than five (5) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five (5) years after the expiration or termination hereof, Licensor may may, by itself or through an accountant designated by Licensor Licensor, investigate and audit the accounting documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licensee. For this purpose, Licensor may request Licensee to produce relevant documents, and may visit Licensee’s office and make copies of Licensee’s documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Payment amount, Licensee shall bear all expenses for such investigation and audit and shall immediately pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to 18% twelve percent (12%) thereof. In the event of Licensee’s understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) below.
Appears in 1 contract
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged the information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “"Monthly Report”") within fifteen twenty (1520) days after of the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number list of End-Users including the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts Service-Sales Amounts for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their its records, contractual and accounting documents and company documents in relation to its business and other activities related to under this Agreement in its principal offices offices, during the term of this Agreement and for not less than five two (52) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five One (51) years year after the expiration or termination hereofthereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licenseebusiness. For this purpose, Licensor may request Licensee to produce the relevant documents, and may visit Licensee’s 's office and make copies of Licensee’s 's documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 . All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If Licensor unless such investigation and audit reveals underpayment by greater than five one percent (51%) of the annual Royalty Payment amount, in which case Licensee shall bear all expenses for such investigation and audit and shall immediately also promptly pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to eighteen (18% %) percent thereof. [In the event of Licensee’s 's understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article Section 13.3(b) below.
Appears in 1 contract
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 7.1 Licensee shall provide Licensor with all relevant and non-privileged the information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 7.2 Licensee shall provide Licensor with a monthly report (the “"Monthly Report”") within fifteen twenty (1520) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number list of End-Users including the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts sales revenue for the pertinent monthmonth including the sale of the Special Edition Package, advertising activities and the amounts spent on advertising activitiesexpenses therefore, complaints received from End Users and market trends in the Territory.
6.3 7.3 Licensee shall keep all of their its records, contractual and accounting documents and company documents in relation to its business and other activities related to under this Agreement in its principal offices offices, during the term of this Agreement and for not less than five two (52) years after the expiration or termination of this Agreement.
6.4 7.4 During the term of this Agreement and for five two (52) years after the expiration or termination hereofthereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit all of the accounting company documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licenseebusiness. For this purpose, Licensor may request Licensee to produce the relevant documents, and may visit Licensee’s 's office and make copies of Licensee’s 's documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 . All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If Licensor unless such investigation and audit reveals underpayment by greater than five percent (5%) % of the annual Royalty Payment amount, in which case Licensee shall bear all expenses for such investigation and audit and shall immediately also promptly pay to Licensor the unpaid amount together with a per annum 18 % default interest thereon equivalent thereon.
7.5 Licensee shall ensure that the billing system used to 18% percent thereof. In calculate Service-Sales Amounts will correctly calculate the event of Licensee’s understatement Service-Sales Amounts and shall be liable for any incorrect calculation and/or report of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article 13.3(b) below.Service-Sales Amounts arising from error or malfunctioning of the billing system. 14.2
Appears in 1 contract
Samples: Exclusive License and Distribution Agreement (GRAVITY Co., Ltd.)
REPORT & AUDIT. 6.1 Licensee shall provide Licensor with all relevant and non-privileged the information pertaining to on the development of its business in relation to the Game. Without limiting the generality of the foregoing, Licensee shall inform Licensor promptly in the event of its launch of the beta tests service or the commercial service of the Game.
6.2 Licensee shall provide Licensor with a monthly report (the “"Monthly Report”") within fifteen twenty (1520) days after the end of the applicable month. Such report shall be month in writing and discuss Licensee’s on its business activities in relation to the Game, including, but not limited to, the number list of End-Users including the maximum and average number of concurrent End-Users, the fees charged by Licensee, the total service amounts Service-Sales Amounts for the pertinent month, advertising activities and the amounts spent on advertising activitiesexpenses therefor, complaints received from End Users and market trends in the Territory.
6.3 Licensee shall keep all of their its records, contractual and accounting documents and company documents in relation to its business and other activities related to under this Agreement in its principal offices offices, during the term of this Agreement and for not less than five two (52) years after the expiration or termination of this Agreement.
6.4 During the term of this Agreement and for five two (52) years after the expiration or termination hereofthereof, Licensor may by itself or through an accountant designated by Licensor investigate and audit the accounting documents of Licensee with respect to its Game business upon seven (7) days prior written notice to Licenseebusiness. For this purpose, Licensor may request Licensee to produce the relevant documents, and may visit Licensee’s 's office and make copies of Licensee’s 's documents. Licensee shall provide all assistance and co-operation required by Licensor for such investigation and audit.
6.5 . All expenses incurred for such investigation and audit shall be borne by Licensor.
6.6 If Licensor unless such investigation and audit reveals underpayment by greater than five percent (5%) of the annual Royalty Payment amount, in which case Licensee shall bear all expenses for such investigation and audit and shall immediately also promptly pay to Licensor the unpaid amount together with a per annum default interest thereon equivalent to 18% twelve (12%) percent thereof. [In the event of Licensee’s 's understatement of the Royalty Payment amount without any justifiable reasons, Licensor shall be entitled to terminate this Agreement pursuant to Article Section 13.3(b) below.]
Appears in 1 contract
Samples: License and Distribution Agreement (GRAVITY Co., Ltd.)