Common use of Reports and Audits Clause in Contracts

Reports and Audits. Distributor Reports Distributor will send to Supplier, in a mutually agreeable format, (i) a stock status report showing the month-end on-hand quantities of products by device type and warehouse location no later than the 2nd working day after the end of each month and (ii) a point of sale report showing product sales for the month by device type, customer, and sale price, for the products and sales covered by the applicable Territory Term Sheet. No more than twice during any year, upon reasonable prior notice, Supplier may (i) conduct a physical inventory count of products in any stocking location (or, in automated facilities, observe cycle counts and related methodology) or (ii) audit such business records, located at Distributor’s corporate headquarters, as pertain solely to the purchase of products hereunder during any such year.

Reports and Audits. a. Distributor Reports Distributor will send to Supplier, in a mutually agreeable format, (i) a stock status report showing the month-end on-hand quantities of products by device type and warehouse location no later than the 2nd working day after the end of each month and (ii) a point of sale report showing product sales for the month by device type, customer, and sale price, for the products and sales covered by the applicable Territory Term Sheet. No more than twice during any year, upon reasonable prior notice, Supplier may (i) conduct a physical inventory count of products in any stocking location (or, in automated facilities, observe cycle counts and related methodology) or (ii) audit such business records, located at Distributor’s corporate headquarters, as pertain solely to the purchase of products hereunder during any such year.