Common use of Customer and Sales Reporting Clause in Contracts

Customer and Sales Reporting. Distributor shall, at its own expense and consistent with the sales policies of INFRAREDX: (i) Place the Products in Distributor’s catalogues, both printed and electronic, including websites, as soon as possible and feature the Products in any applicable trade show that it finds appropriate; (ii) Maintain adequate contact with existing and potential customers within the Territory on a regular basis, consistent with good business practice, which shall include but shall not be limited to maintaining a list of its Product customers including the customer name and address, the customer point of contact, the customer telephone and facsimile numbers, Product serial number and Product installation date and location, software revision level or upgrade level; (iii) Assist INFRAREDX in assessing customer requirements for the Products, including modifications and improvements thereto, in terms of quality, design, functional capability, and other features; and (iv) Prepare accurate and orderly business and accounting records concerning its inventories and sales of the Products. Distributor shall maintain these records for a period of at least two years after any calendar quarter to which they apply. Distributor shall provide INFRAREDX with copies of such records within fifteen (15) days of any written request by INFRAREDX; and (v) On the Effective Date and thereafter at the beginning of each calendar year, provide INFRAREDX with a report containing information concerning the following: (A) Distributor’s quarterly sales volumes for each of the Products during the period covered by the report; (B) Distributor’s promotional activities regarding the Products, both during the period covered by the report and for the upcoming year; (C) a summary of current market conditions for the Products, including information concerning introductions, promotional activities and sales levels of products competitive with the Products; and (D) additional market research information, as reasonably requested by INFRAREDX, regarding competition and changes in the market within the Territory, including without limitation identification of competing products, market prices and market trends.