4.1 For the first twelve (12) months after the Delivery Date or the last date of the month during which Gross Receipts are first credited to the Collection Account, in respect of each calendar month during which Gross Receipts are credited to the Collection Account, FCAM shall provide the Parties with a Statement within twenty (20) Business Days of the end of each calendar month to which it relates.
4.2 From the thirteenth (13th) month after the Delivery Date or the last date of the month during which Gross Receipts are first credited to the Collection Account until thirty six (36) months thereafter, FCAM shall provide the Parties with a Statement on a quarterly basis, within twenty (20) Business Days of the end of each quarter to which it relates.
4.3 Thereafter, until termination of this Agreement, FCAM shall provide the Parties with Statements on an annual basis.
4.4 Unless specifically requested by the Parties in writing, no Statements shall be provided to Parties that have received their Entitlement in full. Any such Parties shall have no further rights pursuant to this Agreement after such receipt.
4.5 FCAM will pay the Entitlements simultaneously with or within five (5) Business Days from the issue of a Statement.
4.6 FCAM shall at all times keep at its principal place of business complete and accurate books of account and records relating to all monies received in and paid from the Collection Account.
4.7 Any Party hereto shall have the right on giving prior reasonable notice no more than once in any twelve (12) month period to audit the books and accounts of FCAM in relation to the Film at its office and such audit shall be at the expense of the requesting party unless such audit reveals an error of the greater of five per cent (5%) or USD 5,000.00 against the interests of the requesting party, in which case FCAM shall pay the reasonable costs of such audit which costs shall not form part of the FCAM Expenses for the purposes of this Agreement;
4.8 Provided FCAM distributes Collected Gross Receipts in accordance with the terms of this Agreement, no liability shall attach to FCAM on account of its application of any sums received by FCAM under this Agreement or for any other obligations on the part of FCAM under this Agreement save as provided for by Clause 4.7 above or in the event of gross negligence or wilful misconduct on the part of FCAM. FCAM will make good any underpayments on its part provided that a claim has been lodged in writing with FCAM within 20 Business Days after the date of payment to which such claim relates.
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