Common use of RENDERING OF ACCOUNTS Clause in Contracts

RENDERING OF ACCOUNTS. Within sixty (60) days as from the Effective Distribution Date, each of the Parties shall render accounts to the other Party with respect to all and any costs and expenses to be apportioned between the Parties; and the Party that has assumed the lowest value of these costs and expenses shall reimburse the other Party in order to comply with the cost apportionment set forth in Clause 7.1. The costs and expenses referred to in this Clause shall be reimbursed within ten (10) Business Days as from the beginning of the quarter immediately after the conclusion of such rendering of accounts, in conformity with the provisions set forth in Clause 7.7