Common use of Beginning August Clause in Contracts

Beginning August. 31, 1996, and semi-annually thereafter, Licensee will submit to The Regents a progress report covering activities by Licensee and its sublicensees related to the development and testing of all their Products and the obtaining of the governmental approvals necessary for marketing them, but Licensee will not be required to report on Products for which a royalty is not due The Regents. These progress reports will be provided to The Regents to cover the progress of the research and development of the Products until the first commercial sale of Products in the United States.

Beginning August. 31, 1996, 1997 and semi-annually thereafter, Licensee will submit to The Regents a progress report covering activities by Licensee and its sublicensees related to the development developing and testing of all their Patent Products and the obtaining of the governmental approvals necessary for marketing them, but Licensee will not be required to report on Products for which a royalty is not due The Regents. These progress reports will be provided to The Regents to cover the progress of the research and development of the Patent Products until the their first commercial sale of Products in the United States.

Beginning August. 3128, 1996, 1997 and semi-annually thereafter, the Licensee will shall submit to The Regents a written progress report covering the Licensee's (and any Affiliate or sublicensee's) activities by Licensee and its sublicensees related to the development and testing of all their Licensed Products and the obtaining of the governmental approvals necessary for marketing them, but Licensee will not be marketing. Progress reports are required to report on Products for which a royalty is not due The Regents. These progress reports will be provided to The Regents to cover the progress of the research and development of the Products each Licensed Product until the first commercial sale of Products that Licensed Product occurs in the United StatesStates and shall be again required if commercial sales of such Licensed Product are suspended or discontinued.