17. ACCOUNTING
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a) MDS shall account to Label for Records sold by MDS hereunder by rendering a
statement after 90 days after the end of each quarterly period ending
March 31 (an "Accounting") showing all payments of invoices
from Customers relating to sales of Records during that 3 month period
together with the Apllicable Fees dues to MDS
in respect of its services to Label.
b) When rendering such Accounting MDS shall pay to Label the
balance of the monies MDS has actually received from Customers in
relation to sales of Records after the deduction of Applicable Fees and
any other permissable offsets including without limitation,
mechanical royalties, sales tax and the value of any returns of
any description.