Common use of Compensation and Royalties Clause in Contracts

Compensation and Royalties. The Licensee shall compensate the Editor as set forth in Addendum A. Royalties shall be payable quarterly, in arrears and Licensee shall provide a statement, signed by an officer of the Licensee, within 30 days of the end of each calendar quarter beginning after the Effective Date of this Agreement (March 31st, June 30th, September 30th, December 31st). The statement must indicate the term of any subscriptions claimed, units sold, and list price of units. All amounts herein refer to U.S. dollars. For bulk sales, a company name and sales contact shall be provided to enable the Editor to verify that the stated bulk sale was execute with the third party. Editor or their independent auditor will have the right to audit the relevant records of the Licensee.