Common use of Earned Royalty Payment and Report Clause in Contracts

Earned Royalty Payment and Report. Beginning with the first sale of a Licensed Product by *****, ***** will submit to Stanford a written report and an earned royalty payment due Stanford within 30 days after each calendar period, where the period is initially on a per-year basis, and changes to a per-quarter basis when annual royalty payments to Stanford exceed $200,000. This report will be in the form of Appendix A and will state the number, description, and aggregate Net Sales of Licensed Product during the completed calendar time period. The report will include an overview of the process and documents relied upon to permit Stanford to understand how the earned royalties are calculated. With each report, ***** will include any earned royalty payment due Stanford for the completed time period (as calculated under Section 7.4).

Earned Royalty Payment and Report. Beginning with the first sale of a Licensed Product by *****, ***** will submit to Stanford a written report and an earned royalty payment due Stanford within 30 days after each calendar period, where the period is initially on a per-year basis, and changes to a per-quarter basis when annual royalty payments to Stanford exceed $200,000. This report will be in use the form template of Appendix A B and will state the number, description, and aggregate Net Sales of Licensed Product during the completed calendar time period. The report will include an overview of the process and documents relied upon to permit Stanford to understand how the earned royalties are calculated. With each report, ***** will include any earned royalty payment due Stanford for the completed time period (as calculated under Section 7.47.5).