Common use of Respective Responsibilities of Directors, Management and Auditors Clause in Contracts

Respective Responsibilities of Directors, Management and Auditors. The directors and/or management are responsible for preparing the Official Past Use Report in accordance with the terms of the License Agreement, so as to set out completely and accurately the information required to be reported under the License Agreement for the period [insert Date] through [insert Date]. Our responsibility is to express an opinion on the completeness and accuracy of the Official Past Use Report based on our audit of Licensee Owner’s (and/or its Registered Affiliates’) books and records and other aspects of its manufacturing and distribution operations. This audit statement is intended for use by the Board of Directors and Management of Licensee for the purpose of its reporting requirements under the License Agreement, and therefore may only be made available by Licensee to Licensing Company (and Licensee’s Affiliates) as defined in the License Agreement. We consent to such distribution on the understanding that under no circumstances shall we accept any liability or responsibility to Licensing Company (or its Affiliates), or to any other party to whom our report is made available, whether or not intentionally and whether or not by Licensee or Licensing Company (or either of their Affiliates). This audit statement may not be made available to any other party without our prior written consent.

Respective Responsibilities of Directors, Management and Auditors. The directors and/or management are responsible for preparing the Official Past Use Report in accordance with the terms of the License Past Use Agreement, so as to set out completely and accurately the information required to be reported under the License Past Use Agreement for the period [insert Date] through [insert Date]. Our responsibility is to express an opinion on the completeness and accuracy of the Official Past Use Report based on our audit of Licensee Brand Owner’s (and/or its Registered Affiliates’) books and records and other aspects of its manufacturing and distribution operations. This audit statement is intended for use by the Board board of Directors directors and Management management of Licensee Brand Owner for the purpose of its reporting requirements under the License Past Use Agreement, and therefore may only be made available by Licensee Brand Owner to Licensing Company (and Licensee’s its Affiliates) as defined in the License Past Use Agreement. We consent to such distribution on the understanding that under no circumstances shall we accept any liability or responsibility to Licensing Company (or its Affiliates), or to any other party to whom our report is made available, whether or not intentionally and whether or not by Licensee Brand Owner or Licensing Company (or either of their Affiliates). This audit statement may not be made available to any other party without our prior written consent.

Respective Responsibilities of Directors, Management and Auditors. Reference Copy The directors and/or management are responsible for preparing the Official Past Use Report in accordance with the terms of the License Agreement, so as to set out completely and accurately the information required to be reported under the License Agreement for the period [insert Date] through [insert Date]. Our responsibility is to express an opinion on the completeness and accuracy of the Official Past Use Report based on our audit of Licensee Owner’s (and/or its Registered Affiliates’) books and records and other aspects of its manufacturing and distribution operations. This audit statement is intended for use by the Board of Directors and Management of Licensee for the purpose of its reporting requirements under the License Agreement, and therefore may only be made available by Licensee to Licensing Company (and Licensee’s Affiliates) as defined in the License Agreement. We consent to such distribution on the understanding that under no circumstances shall we accept any liability or responsibility to Licensing Company (or its Affiliates), or to any other party to whom our report is made available, whether or not intentionally and whether or not by Licensee or Licensing Company (or either of their Affiliates). This audit statement may not be made available to any other party without our prior written consent.