Necessary Records pertaining to a particular royalty reporting period, including Necessary Records relating to the Making and/or Selling of any AV1 Products, shall be maintained for five (5) years after the expiry of the Term.
Accounting Records means the general ledger and subsidiary ledgers and supporting schedules which support the general ledger balances.
Files and Records means all files and records, whether in hard copy or digital, electronic, data, magnetic or other format, of Seller relating to or used in connection with the Seller Business or otherwise relating to the Contributed Assets;
Records means any written or recorded information, regardless of physical form or characteristics, which is produced or acquired by the Party in the performance of this agreement. Records produced or acquired in a machine readable electronic format shall be maintained in that format. The records described shall be made available at reasonable times during the period of the Agreement and for three years thereafter or for any period required by law for inspection by any authorized representatives of the State or Federal Government. If any litigation, claim, or audit is started before the expiration of the three-year period, the records shall be retained until all litigation, claims or audit findings involving the records have been resolved.