Licence Year definition
Examples of Licence Year in a sentence
Such audit shall (i) require at least sixty (60) days’ prior written notice to Licensee; and (ii) can take place only once in respect of the audited Licence Year.
All licence fees outstanding for over nine (9) calendar months after the end of the relevant Licence Year are subject to late payment interest of ten per cent (10%) per annum, unless delay was caused by Licensor’s failure to provide to Licensee the relevant invoice pursuant to Clause 4.3 of this Tariff Scheme after Licensee had provided the relevant Financial Report pursuant to Clause 4.2 of this Tariff Scheme.
Within thirty (30) days of receiving Licensee’s Financial Report, Licensor will provide to Licensee an invoice for the licence fee for that Licence Year, calculated based on the information disclosed in the Financial Report and the tariff rate set out in clause 4.1 (“Licence Fee”).
In the event that this Extension Agreement is cancelled by PMLL pursuant to clause 8.2 during the Licence Year all Licensed Copies or Arrangements made under this Extension Agreement must be destroyed and deleted from storage devices immediately.
Proven Works may raise an invoice for the licence fees for each subsequent Licence Year up to 90 days prior to the beginning of that Licence Year.