Common use of Reporting and Payment Schedule Clause in Contracts

Reporting and Payment Schedule. The Customer must report the status of films 30 days prior to the end of each subscription year, including the Initial Term and any Renewal Terms, and pay any applicable Conditional Fees if the success criteria are met. The Company reserves the right to request audited financial accounts from the Customer in connection with the Conditional Fees. The Company retains the authority to issue an invoice for the Conditional Fee when other resources confirm that the films have met the specified success criteria without waiting for the report of the Customer.