Common use of Payment Records Clause in Contracts

Payment Records. Kite and its Affiliates shall keep (and Kite shall require that its licensees and sublicensees keep) such records as are required to determine, in a manner consistent with GAAP and this Agreement, the sums or credits due under this Agreement. All such books, records, and accounts shall be retained by Kite until the later of: (a) three (3) years after the end of the period to which such books, records, and accounts pertain; and (b) the expiration of the applicable tax statute of limitations (or any extensions thereof), or for such longer period as may be required by Applicable Law. Kite shall require its licensees and sublicensees to provide to Kite a report detailing the Net Sales expenses and calculations incurred or made by such licensee or sublicensee, which report will be made available to Alpine in connection with any audit conducted by Alpine pursuant to Section 3.13.