Common use of ACCOUNTING Clause in Contracts

ACCOUNTING. Licensee shall provide Licensor with accounting statements on a quarterly basis for the first three years of the License Period and biannually thereafter for the remaining License Period. Within thirty days of the relevant accounting period Licensee shall furnish in the English language accounting statements with the information provided below and pay concurrently with the accounting statement(s) any portion of Gross Receipts due to Licensor (Licensor's Share) as indicated in the accounting statements: (a) A summarized statement of the agreements signed, indicating the minimum guarantee/ fee divided by territory and right. (b) A detailed statement of the amounts collected, indicating the venue, total receipts, distributor’s net receipts. (c) A detailed statement of the amounts recovered as a result of the infringement of the Rights by third parties. (d) A detailed statement of the amounts collected as a result of any dealing in trailers, posters, copies, stills, excerpts, advertising accessories or other materials made in connection with or supporting the exercise of the Rights. (e) A statement of all Allowable Distribution Expenses which are recoupable against the amounts deriving from statements indicated sub (a), (b), (c) and (d) above (“Theatrical Gross Receipts”) before the allocation of the Licensor’s Share.