Bad Debts. Without limiting the application of the definition of “Excluded Income”, within 3 months from the end of every Financial Year, the Licensee may send to Recorded Music a statement of bad debts of the Licensee written off for that Financial Year certified true and correct by a chartered accountant. On receipt of such certificate, Recorded Music shall, if satisfied that such bad debts have been written off for such Financial Year, rebate from the Licence Fee payable under this agreement by the Licensee in respect of the Financial Year to which the write-off relates, a sum calculated by multiplying the amount of the certified write-off by the Licence Fee rate applicable to the Licensee's business. Announcements, data supply and statement of use:
Appears in 2 contracts
Sources: Communication Licence, Communication Licence