Common use of Financial Disclosure by SPONSOR Clause in Contracts

Financial Disclosure by SPONSOR. Institution and Principal Investigator understand that SPONSOR is required pursuant to applicable law requiring financial transparency, including but not limited to the Physicians Payments Sunshine Act and its implementing regulations (the "Sunshine Act") to account for direct fees and pass-through expenses and other transfers of value paid on SPONSOR's behalf to covered recipients. Institution agrees to keep complete and accurate records, consistent with applicable law and Institution policy, regarding all payments and other transfers of value made in connection with each Study performed pursuant to this Agreement. To the extent not already available to the SPONSOR, Institution shall provide SPONSOR with information regarding any and all such payments and transfers of value that Institution makes on SPONSOR's behalf in a written form acceptable to SPONSOR upon request. INSTITUTION agrees that SPONSOR may disclose certain information relating to such payments or transfers of value provided to covered recipients as required by law, and acknowledges that such information may become public record.

Financial Disclosure by SPONSOR. Institution and Principal Investigator understand that SPONSOR is required pursuant to applicable law requiring financial transparency, including but not limited to the Physicians Payments Sunshine Act and its implementing regulations (the "Sunshine Act") to account for direct fees and pass-through expenses and other transfers of value paid on SPONSOR's behalf to covered recipients. Institution agrees to keep complete and accurate records, consistent with applicable law and Institution policy, regarding all payments and other transfers of value made in connection with each Study Trial performed pursuant to this Agreement. To the extent not already available to the SPONSOR, Institution shall provide SPONSOR with information regarding any and all such payments and transfers of value that Institution makes on SPONSOR's behalf in a written form acceptable to SPONSOR upon request. INSTITUTION agrees that SPONSOR may disclose certain information relating to such payments or transfers of value provided to covered recipients as required by law, and acknowledges that such information may become public record.