Common use of Sales Statement Clause in Contracts

Sales Statement. 10.1 Licensee shall deliver to Licensor at the time each Sales Royalty payment is due, a statement signed by a duly authorized officer of Licensee and certified by him as accurate indicating, sales by product category, shipped during the period covered by such sales Royalty payment, the amount of discounts and credits from gross sales which may be deducted therefrom and a computation of the amount of Sales Royalty payable hereunder for said period. Such statement shall be furnished to Licensor whether or not any Articles have been sold during the period for which such statement is due. 10.2 Licensee shall deliver to Licensor, not later than forty-five (45) days after the close of each Annual Period (or portion thereof in the event of prior termination for any reason), a statement signed and certified by a duly authorized officer of licensee and certified by him a accurate relating to said entire Annual Period, setting forth the same information required to be submitted by Licensee in accordance with paragraph 10.1 above and also setting forth, with respect to the advertising and promotion of Articles, the total amount expended by Licensee therefor during such Annual Period, including and stating separately those amounts paid for cooperative, trade and national consumer media advertisements