Common use of Reporting and Auditing Clause in Contracts

Reporting and Auditing. (a) CEL will provide a written statement to Publisher on a calendar semi-annual basis, specifying which portion of each payment to Publisher is attributable to which Title. The statement will accompany the payment, if any, due to the Publisher pursuant to Exhibit C, but CEL will provide a statement for each calendar period, regardless of whether any payment is due. (b) Once annually, upon thirty (30) days’ notice, Publisher shall have the right to have certified public or chartered accountants audit CEL’s accounting records necessary to calculate fees due hereunder during normal business hours. Such audit shall be at Publisher’s expense unless accounting errors amounting to ten percent (10%) or more of the total sums accruing to Publisher during the year in question shall be found to Publisher’s disadvantage. For each such occurrence, CEL shall bear the cost of the audit, and payment of the amount due shall be made to Publisher within thirty (30) days’ notice to CEL of the deficiency, provided there is no dispute regarding the audit.

Reporting and Auditing. (a) a. CEL will provide a written statement to Publisher on a calendar semi-annual basis, specifying which portion of each payment to Publisher is attributable to which Title. The statement will accompany the payment, if any, due to the Publisher pursuant to Exhibit C, but CEL will provide a statement for each calendar period, regardless of whether any payment is due. (b) b. Once annually, upon thirty (30) days’ notice, Publisher shall have the right to have certified public or chartered accountants audit CEL’s accounting records necessary to calculate fees due hereunder during normal business hours. Such audit shall be at Publisher’s expense unless accounting errors amounting to ten percent (10%) or more ormore of the total sums accruing to Publisher during the year in question shall be found to Publisher’s disadvantage. For each such occurrence, CEL shall bear the cost of the audit, and payment of the amount due shall be made to Publisher within thirty (30) days’ notice to CEL of the deficiency, provided there is no dispute regarding the audit.