7. Records, Reports and Inspections
7.01. Records; Reports
During the term of this Agreement and for a minimum period of three (3) years thereafter, Licensees shall keep detailed, accurate and up to date records and/or books accessible upon AstraZeneca’s request, showing the quantity, description and price of all the Licensed Product supplied by Licensees or any Sublicensees in each country, and all sums paid to Licensees or any Sublicensees in each case during the previous five (5) years. Licensees shall ensure that such records and/or books are sufficient to ascertain the calculation of the Sublicense Fee with respect to the Licensed Product supplied by Licensees and any Sublicenses in the Territory and the payments due to AstraZeneca under this Agreement.
As agreed in this Agreement, Licensees shall furnish Quarterly Certificate from Licensee’s accounting department for the calculation of Sublicense Fee and Additional Fee as per Section 6.03.
7.03. Inspection Costs
Licensees shall bear all the costs for the Quarterly Certificates of Sublicence Fee and Additional Fee. In case AstraZeneca wishes to get the Quarterly Certificates verified, they shall do the same at their costs.