REPORTING TO VERSANT Clause Samples

REPORTING TO VERSANT. 15.1 At Versant's request and not more frequently than twice a year, VAR will submit to Versant a signed statement containing the number of Run-Time copies in use. VAR agrees to provide the information within thirty (30) days of such request. 15.2 Subsequent to the initial purchase of Software and forty-five (45) days after the end of each calendar quarter, VAR will pay any royalties due less any prepaid amounts, whether a Royalty Percentage or Royalty Amount and submit to Versant a statement which includes at a minimum: a. a list of all shipments of the Application; and b. Application product code & the number of copies of each; and c. Run-Time Software installed and the number of copies of each. d. VAR will make best efforts to obtain the above information and to provide it to VERSANT on a timely basis. e. Any other information reasonably required by Versant and so requested in writing from time to time. 15.3 VAR agrees to allow an independent accountant to review VAR's books and records to determine the accuracy of the reports. The independent accountant will be chosen by Versant and approved by VAR, whose approval shall not be unreasonably withheld. The cost of the independent accountant's review will be at Versant's cost unless an error of more than 5% is found, in which case it shall be at VAR's cost. The reviews will occur at mutually agreeable times during normal business hours and will not occur more frequently than one time per year. The independent accountant will be instructed to keep all information learned strictly confidential.