Common use of Auditing Clause in Contracts

Auditing. 8.1 Licensee shall keep the account records, reports and auxiliary data separate and in a careful manner in order to enable audit of income generated by Licensee’s distribution measures in the Licence Territory and shall permit a representative of Licensor to audit and copy account records, reports, and supporting data at Licensee’s headquarters during regular office hours, after providing adequate advance notice. 8.2 Such audits shall take place at the costs of the Licensor, except in cases in which the audit or inspection of records determines that the amount that should have been paid to Licensor by Licensee under audit is at least five (5) % greater that the amount actually paid.