Common use of Beginning with the Clause in Contracts

Beginning with the. First Commercial Sale of a Licensed Product, MediCept shall keep, and shall require its Affiliates and Sublicensees to keep, full, true and accurate books of account in accordance with generally accepted accounting principles and containing sufficient detail to enable Phenome to determine the royalty and other amounts payable to Phenome under this Agreement. Said books of account shall be kept at MediCept's principal place of business or the principal place of business of the appropriate Affiliate and/or Sublicensee of MediCept to which this Agreement relates. Said books and the supporting data shall be retained for at least five (5) years following the end of the calendar year to which they pertain.