Common use of Right of Verification Clause in Contracts

Right of Verification. LICENSEE agrees to maintain all necessary information in its books and records to allow SESAC to verify LICENSEE’s reports, payments, statements and computations required by this Agreement. SESAC shall have the right, on at least ten (10) days prior written notice, to examine LICENSEE's books and records during customary business hours to such extent as may be necessary to verify any and all reports, payments, statements and computations made or required hereunder. In connection with such an examination, LICENSEE agrees to furnish all pertinent books and records, including electronic records in industry standard format, to SESAC’s authorized representatives. Such books and records shall be kept by LICENSEE for at least three (3) years following any termination of this Agreement.