Common use of Statements and Payments Clause in Contracts

Statements and Payments. (a) VoodooBeat shall compute and pay royalties due to Licensor hereunder within sixty (60) days following June 30 and December 31, respectively, in each case with respect to license fees and Administration Receipts actually received by VoodooBeat during the immediately preceding six (6) month period. Such payments shall be accompanied by a statement setting forth the source of such royalties. VoodooBeat shall be under no obligation to render any statement or make any payment until such time as the royalties due Licensor hereunder equal or exceed Fifty Dollars ($50.00), or upon request at the close of the fourth accounting period following receipt, whichever occurs first. Licensor acknowledges that, with respect to blanket licenses (i.e., those allowing use of multiple Tracks to be selected by a User and reported back to VoodooBeat), VoodooBeat is dependent on Users submitting cue sheets to VoodooBeat in order to calculate royalties owed to Licensor and that in some cases, royalty payment will be delayed pending VoodooBeat’s receipt of such cue sheets. VoodooBeat will use reasonable commercial efforts to collect cue sheets, but in situations where cue sheets are not provided by Users or VoodooBeat is otherwise unable to attribute revenue to particular Tracks or artists, VoodooBeat reserves the right to allocate payment in an equitable manner, as determined in VoodooBeat’s sole discretion, amongst Tracks and/or artists. VoodooBeat shall have the right to deduct or withhold income or other similar tax from sums payable to Licensor hereunder pursuant to the laws of the relevant territory of a Licensed Use, provided that VoodooBeat shall, where readily available, furnish to Licensor, with each statement, any necessary information which shall enable Licensor, upon presentation of such, to endeavor to obtain income tax credit from the United States Internal Revenue Service or local revenue service for tax so withheld. examine VoodooBeat’s books and records with respect to such statement. Such examination shall be commenced within three (3) months after the date of such notice, at Licensor’s sole cost and expense, by any certified public accountant or attorney designated by Licensor, provided he (or any member or associate of the firm within which he is affiliated) is not then engaged in an outstanding examination of VoodooBeat’s books and records on behalf of a Person other than Licensor. Such examination shall be made during VoodooBeat’s usual business hours at the place where VoodooBeat maintains the books and records which relate to Licensor and which are necessary to verify the accuracy of the statement or statements specified in Licensor’s notice to VoodooBeat and the examination shall be limited to the foregoing. Licensor’s right to inspect VoodooBeat’s books and records shall be only as set forth in this Paragraph 11(b) and VoodooBeat shall have no obligation to produce such books and records more than once with respect to each statement rendered to Licensor.

Statements and Payments. REPORTING (a) VoodooBeat Statement and Payments: By the fifteenth (15th) day following the end of each month, LICENSEE shall compute furnish (on forms provided by or approved by NBAP) full and pay accurate statements (on a county-by-country and unit basis, if more than one country is contained within the definition of the Territory), certified by an officer of LICENSEE, showing all information relating to the calculation of Net Sales for the preceding month. Simultaneously with the submission of such statement, LICENSEE shall make all monthly royalty payments required under this Agreement for the preceding month. The minimum amount of royalties due to Licensor hereunder within sixty (60) days following June 30 and December 31, respectively, in be paid by LICENSEE by the end of each case quarter with respect to license fees and Administration Receipts actually received by VoodooBeat during the immediately preceding six (6) month period. Such payments each Licensed Product category shall be accompanied by a statement setting forth the source amount which, when added to payments of such royalties. VoodooBeat shall be under no obligation to render any statement or make any payment until such time as royalties previously made for the royalties due Licensor hereunder equal or exceed Fifty Dollars ($50.00), or upon request at the close of the fourth accounting period following receipt, whichever occurs first. Licensor acknowledges that, with respect to blanket licenses (i.e., those allowing use of multiple Tracks to be selected by a User and reported back to VoodooBeat), VoodooBeat is dependent on Users submitting cue sheets to VoodooBeat in order to calculate royalties owed to Licensor and that in some cases, royalty payment will be delayed pending VoodooBeat’s receipt of such cue sheets. VoodooBeat will use reasonable commercial efforts to collect cue sheets, but in situations where cue sheets are not provided by Users or VoodooBeat is otherwise unable to attribute revenue to particular Tracks or artists, VoodooBeat reserves the right to allocate payment in an equitable manner, as determined in VoodooBeat’s sole discretion, amongst Tracks and/or artists. VoodooBeat shall have the right to deduct or withhold income or other similar tax from sums payable to Licensor hereunder pursuant to the laws of the relevant territory of a Licensed Use, provided that VoodooBeat shall, where readily available, furnish to Licensor, with each statement, any necessary information which shall enable Licensor, upon presentation of such, to endeavor to obtain income tax credit from the United States Internal Revenue Service or local revenue service for tax so withheld. examine VoodooBeat’s books and records Contract Year with respect to such statementLicensed Product category, shall be equal to one-fourth (25%) of the Minimum Guarantee for such Licensed Product category for such Contract Year required under Paragraph E above multiplied by the number of quarters then elapsed. Aggregate royalties paid each Contract Year may exceed the Minimum Guarantee for such Contract Year. Such examination monthly statements shall be commenced within furnished and the required payments made by LICENSEE whether or not there are any Net Sales for that month. LICENSEE shall not deduct or withhold any amounts by reason of any tax (including any taxes imposed on NBAP); any applicable tax on the distribution and sale of the Licensed Products shall be borne, and paid directly, by LICENSEE. All payments shall be in U.S. dollars, from a U.S. source approved by NBAP. All computations and payments shall be in U.S. dollars, at the spot rate for the local currency as published in the Wall Street Journal for the last business day of the preceding month. If LICENSEE shall fail to timely pay any amount due under this Paragraph, LICENSEE shall pay interest on such amount at a rate equal to the lesser of (i) three percent (3%) months after per annum over the highest percent rate (announced by Chemical Bank, New York branch) prevailing during the period between the date the payment first became due and the date such payment is actually paid or (ii) the highest rate permitted by law during the period between the date the payment first became due and the date such payment is actually paid. The receipt or acceptance by NBAP of such notice, at Licensor’s sole cost and expense, by any certified public accountant or attorney designated by Licensor, provided he (or any member or associate of the firm within which he is affiliatedstatements furnished or royalties paid by LICENSEE (including the cashing of any royalty checks) is shall not then engaged in an outstanding examination of VoodooBeat’s preclude NBAP from questioning their accuracy at any time, auditing LICENSEE's books and records pursuant to Paragraph 12 or claiming any shortfall in royalty payments. In order to assist with NBAp's annual budget process, by April 15 of each Contract Year, LICENSEE shall deliver a statement detailing LICENSEE's projections for sales of each Licensed Product for the following Contract Year, broken down on behalf a quarterly basis. If LICENSEE fails to comply with reporting requirements contained in this Paragraph, NBAP may charge LICENSEE, and LICENSEE shall pay, two thousand U.S. dollars (USD 2,000) for each instance of non-compliance with this Paragraph. (b) No Cross Collateralization: Any royalty payment for unit of Licensed Product sold shall only be applied against the Minimum Guarantee for such Licensed Product for the Contract Year in which the unit of such Licensed Product was sold (i.e., any shortfall in, or payment in excess of, the Minimum Guarantee for a Contract Year may not be offset or credited against the Minimum Guarantees for any other Contract Year, against any other Licensed Product or against any other NBA license (including premium license agreements entered into pursuant to Paragraph 5 hereof) held by LICENSEE). If Minimum Guarantees are stated separately for different categories of Licensed Products or for different territories, royalty payments resulting from Net Sales of a Person other than Licensor. Such examination category of Licensed Product or in a particular territory shall be made during VoodooBeat’s usual business hours at applied only against the place where VoodooBeat maintains the books and records which relate to Licensor and which are necessary to verify the accuracy Minimum Guarantee for such category of the statement Licensed Product or statements specified in Licensor’s notice to VoodooBeat and the examination shall be limited to the foregoingterritory. Licensor’s right to inspect VoodooBeat’s books and records shall be only as set forth in this Paragraph 11(b) and VoodooBeat shall have no obligation to produce such books and records more than once with respect to each statement rendered to Licensor4.

Statements and Payments. (a) VoodooBeat Each Royalty payment shall compute and pay royalties be made by wire transfer to an account for the credit of PPR at a bank designated by PPR in Paragraph 4 of this Agreement or a single check made payable to a person designated in writing by PPR as the payee for purposes of payments due to Licensor hereunder PPR under this Agreement. Each payment shall be made by Grantee’s check mailed or delivered as above within sixty (60) THIRTY days following June 30 after the calendar quarter in which Grantee receives payment of the purchase price for ores, leachates, solutions or concentrates sold by it and December 31for which the Royalty is payable according to this Agreement. If above, respectively, in each case with respect to license fees and Administration Receipts actually received by VoodooBeat the Royalty shall be paid within THIRTY days after the calendar quarter during which the immediately preceding six (6) month periodfurther processing occurs. Such payments Each such payment shall be accompanied by a an itemized statement setting forth all facts and figures weights, analyses and values of all ores, concentrates, Subject Minerals, and metals produced form the source of such royalties. VoodooBeat shall be under no obligation to render any statement or make any Property during the Period for which payment until such time as the royalties due Licensor hereunder equal or exceed Fifty Dollars ($50.00), or upon request at the close of the fourth accounting period following receipt, whichever occurs first. Licensor acknowledges that, with respect to blanket licenses (i.e., those allowing use of multiple Tracks to be selected by a User and reported back to VoodooBeat), VoodooBeat is dependent on Users submitting cue sheets to VoodooBeat made in order to calculate royalties owed to Licensor and that in some cases, royalty payment will be delayed pending VoodooBeat’s receipt of such cue sheets. VoodooBeat will use reasonable commercial efforts to collect cue sheets, but in situations where cue sheets are not provided by Users or VoodooBeat is otherwise unable to attribute revenue to particular Tracks or artists, VoodooBeat reserves the right to allocate payment in an equitable manner, as determined in VoodooBeat’s sole discretion, amongst Tracks and/or artists. VoodooBeat shall have the right to deduct or withhold income or other similar tax from sums payable to Licensor hereunder pursuant to the laws of the relevant territory of a Licensed Use, provided that VoodooBeat shall, where readily available, furnish to Licensor, with each statement, any necessary information which shall enable Licensor, upon presentation of such, to endeavor to obtain income tax credit from the United States Internal Revenue Service or local revenue service for tax so withheld. examine VoodooBeat’s books and records with respect to such statement. Such examination shall be commenced within three (3) months after the date of such notice, at Licensor’s sole cost and expense, by any certified public accountant or attorney designated by Licensor, provided he (or any member or associate of the firm within which he is affiliated) is not then engaged in an outstanding examination of VoodooBeat’s books and records on behalf of a Person other than Licensor. Such examination shall be made during VoodooBeat’s usual business hours at the place where VoodooBeat maintains the books and records which relate to Licensor and which are necessary to verify the accuracy of the statement amount of the payment. Notwithstanding anything to the contrary in this Agreement, Grantee shall not be in default for failing to make any payment to PPR in timely fashion if PPR fails or refuse to give Grantee written notice designating a bank account or a person to be the payee named on each and every check to be either wired or sent to PPR. All statements specified in Licensor’s notice provided to VoodooBeat and the examination PPR by Grantee shall be limited conclusively presumed to be true and correct after SIXTY days from the foregoingend of the period to which such statement applies unless within the SIXTY day period PPR submits to Grantee a written exception and claims that Grantee makes adjustment. Licensor’s right Failure on the part of PPR to inspect VoodooBeat’s books make a claim against Grantee for an adjustment in the subject period shall establish the correctness and records preclude the filing of later favorable to Grantee shall be only as set forth made unless they are made within the prescribed SIXTY day period or unless in this Paragraph 11(b) and VoodooBeat shall have no obligation to produce such books and records more than once connection with respect to each statement rendered to Licensora claim made by PPR.

Statements and Payments. REPORTING (a) VoodooBeat Statement and Payments: By the fifteenth (15th) day following the end of each month, LICENSEE shall compute wire transfer to NBAP the "Monthly Minimum Payment" (as defined below), and pay royalties due to Licensor hereunder within sixty fifteen (6015) days (i.e., by the 30th day following June 30 the end of each month) of each such payment, shall furnish (on forms provided by or approved by NBAP) full and December 31accurate statements (on a country-by-country and unit basis, respectivelyif more than one country is contained within the definition of the Territory), in each case certified by an officer of LICENSEE, showing all information relating to the calculation of Net Sales for the preceding month. Simultaneously with respect to license fees and Administration Receipts actually received by VoodooBeat during the immediately preceding six (6) month period. Such payments shall be accompanied by a statement setting forth the source submission of such royalties. VoodooBeat statement, LICENSEE shall be under no obligation wire transfer to render any statement or make any payment until such time as NBAP the royalties due Licensor hereunder equal or exceed Fifty Dollars ($50.00)overage, or upon request at the close of the fourth accounting period following receipt, whichever occurs first. Licensor acknowledges thatif any, with respect to blanket licenses (i.e., those allowing use the Monthly Minimum Payment made and the actual earned royalty and A&P contribution required under Paragraphs F and H for the preceding month. The minimum amount of multiple Tracks to be selected by a User and reported back to VoodooBeat), VoodooBeat is dependent on Users submitting cue sheets to VoodooBeat in order to calculate royalties owed to Licensor and that in some cases, each monthly royalty payment will with respect to each region shall be delayed pending VoodooBeat’s receipt the amount which, when added to payments of such cue sheets. VoodooBeat will use reasonable commercial efforts to collect cue sheets, but in situations where cue sheets are not provided by Users or VoodooBeat is otherwise unable to attribute revenue to particular Tracks or artists, VoodooBeat reserves royalties previously made for the right to allocate payment in an equitable manner, as determined in VoodooBeat’s sole discretion, amongst Tracks and/or artists. VoodooBeat shall have the right to deduct or withhold income or other similar tax from sums payable to Licensor hereunder pursuant to the laws of the relevant territory of a Licensed Use, provided that VoodooBeat shall, where readily available, furnish to Licensor, with each statement, any necessary information which shall enable Licensor, upon presentation of such, to endeavor to obtain income tax credit from the United States Internal Revenue Service or local revenue service for tax so withheld. examine VoodooBeat’s books and records Contract Year with respect to such statementregion, shall be equal to one-twelfth (8.34%) of the Minimum Guarantee for such region for such Contract Year required under Paragraph E above, multiplied by the number of calendar months then elapsed. The minimum amount of each monthly advertising and promotion payment shall be the amount which, when added to the advertising and promotion payments previously made for the Contract Year, shall be equal to one-twelfth (8.34%) of the A&P contribution for such Contract Year required under Paragraphs F and H above, multiplied by the number of calendar months then elapsed (the minimum payments under this sentence and the preceding sentence collectively referred to as the "Monthly Minimum Payment"). Aggregate royalties and any advertising and promotion payments paid each Contract Year may exceed the Minimum Guarantee and the A&P contribution for such Contract Year. Such examination monthly statements shall be commenced within furnished and the required payments made by LICENSEE whether or not there are any Net Sales for that month. LICENSEE shall not deduct or withhold any amounts by reason of any tax (including any taxes imposed on NBAP); any applicable tax on the distribution and sale of the Licensed Products shall be borne, and paid directly, by LICENSEE. In order to avoid the imposition of foreign withholding taxes on NBAP, all payments shall be in U.S. dollars, from a U.S. source approved by NBAP. All computations and payments shall be in U.S. dollars, at the spot rate for the local currency as published in the Wall Street Journal for the last business day of the preceding month. If LICENSEE shall fail to timely pay any amount due under this Paragraph, LICENSEE shall pay interest on such amount at a rate equal to the lesser of (i) three percent (3%) months after per annum over the highest prime rate (announced by Chemical Bank, New York branch) prevailing during the period between the date the payment first became due and the date such payment is actually paid or (ii) the highest rate permitted by law during the period between the date the payment first became due and the date such payment is actually paid. The receipt or acceptance by NBAP of such notice, at Licensor’s sole cost and expense, by any certified public accountant or attorney designated by Licensor, provided he (or any member or associate of the firm within which he is affiliatedstatements furnished or royalties paid by LICENSEE (including the cashing of any royalty checks) is shall not then engaged in an outstanding examination of VoodooBeat’s preclude NBAP from questioning their accuracy at any time, auditing LICENSEE's books and records on behalf pursuant to Paragraph 15 or claiming any shortfall in royalty payments, or advertising and promotion payments. In order to assist with NBAP's annual budget process, by April 15 of each Contract Year, LICENSEE shall deliver a Person other than Licensor. Such examination shall be made during VoodooBeat’s usual business hours at statement detailing LICENSEE's projections for sales of each Licensed Product for the place where VoodooBeat maintains the books and records which relate to Licensor and which are necessary to verify the accuracy of the statement or statements specified in Licensor’s notice to VoodooBeat and the examination shall be limited to the foregoing. Licensor’s right to inspect VoodooBeat’s books and records shall be only as set forth in this Paragraph 11(b) and VoodooBeat shall have no obligation to produce such books and records more than once with respect to each statement rendered to Licensor.following Contract

Statements and Payments. (a) VoodooBeat As soon as practicable, but no later than On or before the fifteenth (15th) Day of each calendar month, Gatherer will render to Owner a statement setting forth day following the close of each Month, Gatherer shall compute furnish to Owner: (i) an invoice setting forth the amounts due for Gathering Services provided during, and pay royalties due to Licensor hereunder within sixty for other amounts owed with respect to, the preceding Month, and (60ii) days following June 30 pertinent measurement reports setting forth the volumes of gas received and December 31, respectivelydelivered during the preceding Month (including, in each case with respect to license fees terms of Mcf's and Administration Receipts actually MMBtu's, the total quantity of Gas received by VoodooBeat hereunder as measured at the Measurement Point and the Equivalent Quantities of Gas delivered hereunder at the Delivery Point(s) Points during the immediately preceding six Month and the amount payable therefor. Additionally, such statement shall set forth the cumulative imbalance existing at the end of the current Month. Owner agrees to pay Gatherer by wire transfer (6according to the instructions set forth in the applicable statement or invoice) month the full amount payable according to such statement on or before ten (10) Days following the receipt thereof by Owner. In the event such quantities are estimated for any period. Such payments , corrected statements shall be accompanied rendered by Gatherer to Owner and paid by Owner or refunded or credited by Gatherer, as the case may be, in each instance in which the actual quantity received or delivered hereunder with respect to a statement setting forth the source of such royalties. VoodooBeat Month shall be under no obligation determined to render be at variance with the estimated quantity theretofore made the basis of billing and payment hereunder. Owner shall, if requested by Gatherer at any statement or make any time during the term of this Agreement, provide Gatherer with such payment securities as may be acceptable to Gatherer. In the event Owner fails to promptly provide payment securities acceptable to Gatherer when requested by Gatherer, Gatherer and Owner agree that Gatherer may suspend its performance hereunder until such time as Owner furnishes acceptable payment securities to Gatherer. In addition to all other remedies available to Gatherer, should Owner fail to pay any amount when the royalties due Licensor hereunder equal or exceed Fifty Dollars ($50.00same becomes due, interest shall accrue thereon), or upon request at the close a statement of the fourth accounting period Fuel Gas allowances, cumulative Imbalances, and the total net amount due Gatherer. Owner shall pay Gatherer the invoiced amount within fifteen (15) days following receiptthe invoice date ("Due Date"). If the Due Date falls on a Day other than a Business Day, whichever occurs firstpayment is due the next Business Day. Licensor acknowledges that, with respect to blanket licenses (i.e., those allowing use of multiple Tracks to be selected by a User and reported back to VoodooBeat), VoodooBeat is dependent on Users submitting cue sheets to VoodooBeat in order to calculate royalties owed to Licensor and that in some cases, royalty payment will be delayed pending VoodooBeat’s receipt of such cue sheets. VoodooBeat will use reasonable commercial efforts to collect cue sheets, but in situations where cue sheets are not provided by Users or VoodooBeat is otherwise unable to attribute revenue to particular Tracks or artists, VoodooBeat reserves the right to allocate payment in an equitable manner, as determined in VoodooBeat’s sole discretion, amongst Tracks and/or artists. VoodooBeat shall have the right to deduct or withhold income or other similar tax from sums payable to Licensor hereunder pursuant to the laws of the relevant territory of a Licensed Use, provided that VoodooBeat shall, where readily available, furnish to Licensor, with each statement, any necessary information which shall enable Licensor, upon presentation of such, to endeavor to obtain income tax credit from the United States Internal Revenue Service or local revenue service for tax so withheld. examine VoodooBeat’s books and records with respect to such statement. Such examination Payment shall be commenced within three (3) months after the date of such noticeby wire transfer to Gatherer’s account at _______ Bank, at Licensor’s sole cost and expenseN.A., by any certified public accountant or attorney designated by LicensorABA Routing No. 000000000, provided he (or any member or associate of the firm within which he is affiliated) is not then engaged in an outstanding examination of VoodooBeat’s books and records on behalf of a Person other than LicensorAccount No. Such examination shall be made during VoodooBeat’s usual business hours at the place where VoodooBeat maintains the books and records which relate to Licensor and which are necessary to verify the accuracy of the statement or statements specified in Licensor’s notice to VoodooBeat and the examination shall be limited to the foregoing. Licensor’s right to inspect VoodooBeat’s books and records shall be only as set forth in this Paragraph 11(b) and VoodooBeat shall have no obligation to produce such books and records more than once with respect to each statement rendered to Licensor4140327387.

Statements and Payments. REPORTING (a) VoodooBeat Statement and Payments: By the fifteenth (15th) day following the end of each month, LICENSEE shall compute furnish (on forms provided by or approved by NBAP) full and pay royalties due accurate statements (on a county-by-country and unit basis, if more than one country is contained within the definition of the Territory), certified by an officer of LICENSEE, showing all information relating to Licensor hereunder within sixty (60) days following June 30 and December 31the calculation of Net Sales for the preceding month. Simultaneously with the submission of such statement, respectively, in LICENSEE shall make all monthly royalty payments required under this Agreement for the preceding month. The minimum amount of each case monthly royalty payment with respect to license fees and Administration Receipts actually received by VoodooBeat during the immediately preceding six (6) month period. Such payments each Licensed Product category shall be accompanied by a statement setting forth the source amount which, when added to payments of such royalties. VoodooBeat shall be under no obligation to render any statement or make any payment until such time as royalties previously made for the royalties due Licensor hereunder equal or exceed Fifty Dollars ($50.00), or upon request at the close of the fourth accounting period following receipt, whichever occurs first. Licensor acknowledges that, with respect to blanket licenses (i.e., those allowing use of multiple Tracks to be selected by a User and reported back to VoodooBeat), VoodooBeat is dependent on Users submitting cue sheets to VoodooBeat in order to calculate royalties owed to Licensor and that in some cases, royalty payment will be delayed pending VoodooBeat’s receipt of such cue sheets. VoodooBeat will use reasonable commercial efforts to collect cue sheets, but in situations where cue sheets are not provided by Users or VoodooBeat is otherwise unable to attribute revenue to particular Tracks or artists, VoodooBeat reserves the right to allocate payment in an equitable manner, as determined in VoodooBeat’s sole discretion, amongst Tracks and/or artists. VoodooBeat shall have the right to deduct or withhold income or other similar tax from sums payable to Licensor hereunder pursuant to the laws of the relevant territory of a Licensed Use, provided that VoodooBeat shall, where readily available, furnish to Licensor, with each statement, any necessary information which shall enable Licensor, upon presentation of such, to endeavor to obtain income tax credit from the United States Internal Revenue Service or local revenue service for tax so withheld. examine VoodooBeat’s books and records Contract Year with respect to such statementLicensed Product category, shall be equal to one-twelfth (8.34%) of the Minimum Guarantee for such Licensed Product category for such Contract Year required under Paragraph E above, multiplied by the number of months then elapsed. Aggregate royalties paid each Contract Year may exceed the Minimum Guarantee for such Contract Year. Such examination monthly statements shall be commenced within furnished and the required payments made by LICENSEE whether or not there are any Net Sales for that month. All computations and payments shall be in U.S. dollars, at the spot rate for the local currency as published in the Wall Street Journal for the last business day of the preceding month. If LICENSEE shall fail to timely pay any amount due under this Paragraph, LICENSEE shall pay interest on such amount at a rate equal to the lesser of (i) three percent (3%) months after per annum over the highest prime rate (announced by Chemical Bank, New York branch) prevailing during the period between the date the payment first became due and the date such payment is actually paid or (ii) the highest rate permitted by law during the period between the date the payment first became due and the date such payment is actually paid. The receipt or acceptance by NBAP of such notice, at Licensor’s sole cost and expense, by any certified public accountant or attorney designated by Licensor, provided he (or any member or associate of the firm within which he is affiliatedstatements furnished or royalties paid by LICENSEE (including the cashing of any royalty checks) is shall not then engaged in an outstanding examination of VoodooBeat’s preclude NBAP from questioning their accuracy at any time, auditing LICENSEE's books and records pursuant to Paragraph 12 or claiming any shortfall in royalty payments or advertising and promotion payments. In order to assist with NBAP's annual budget process, by April 15 of each Contract Year, LICENSEE shall deliver a statement detailing LICENSEE's projections for sales of each Licensed Product for the following Contract Year, broken down on behalf a quarterly basis. If LICENSEE fails to comply with reporting requirements contained in this Paragraph, NBAP may charge LICENSEE, two thousand U.S. dollars (US $2,000) for each instance of non- compliance with this Paragraph. (b) No Cross Collateralization: Any royalty payment for unit of Licensed Product sold shall only be applied against the Minimum Guarantee for such Licensed Product for the Contract Year in which the unit of such Licensed Product was sold (i.e., any shortfall in, or payment in excess of, the Minimum Guarantee for a Contract Year may not be offset or credited against the Minimum Guarantees for any other Contract Year, against any other Licensed Product or against any other NBA license (including premium license agreements entered into pursuant to Paragraph 5 hereof) held by LICENSEE). If Minimum Guarantees are stated separately for different categories of Licensed Products royalty payments resulting from Net Sales of a Person other than Licensor. Such examination category of Licensed Product shall be made during VoodooBeat’s usual business hours at applied only against the place where VoodooBeat maintains the books and records which relate to Licensor and which are necessary to verify the accuracy Minimum Guarantee for such category of the statement or statements specified in Licensor’s notice to VoodooBeat and the examination shall be limited to the foregoingLicensed Product. Licensor’s right to inspect VoodooBeat’s books and records shall be only as set forth in this Paragraph 11(b) and VoodooBeat shall have no obligation to produce such books and records more than once with respect to each statement rendered to Licensor.(c)