Common use of IOMED Clause in Contracts

IOMED. shall keep and shall cause its AFFILIATES and sublicensees to keep true and accurate records of sales of PRODUCTS, other transactions giving rise to NET REVENUS, and the royalties payable to ELAN under Article IV hereof and shall deliver to ELAN a written statement thereof within forty five (45) days following the and of each calendar quarter (or any past thereof in the first or last calendar quarter of this Agreement) for such calendar quarter. Said written statements shall set forth (I) for each PRODUCT on ****, the calculation of NET REVENUES from gross revenues during that calendar quarter, the applicable percentage royalty rates, and a computation of such royalties due and (II) such details of the transactions arising from the exploitation of the ELAN IONTOPHORETIC INTELLECTUAL PROPERTY and/or the IOMED PATENT RIGHTS and/or the IOMED KNOW-HOW as are relevant to the calculation of NET REVENUES (the "Royalty Statement").

IOMED. shall keep and shall cause its AFFILIATES and sublicensees to keep true and accurate records of sales of PRODUCTS, other transactions giving rise to NET REVENUSREVENUES, and the royalties payable to ELAN DDS under Article IV hereof and shall deliver to ELAN DDS a written statement thereof within forty five (45) days following the and end of each calendar quarter (or any past part thereof in the first or last calendar quarter of this Agreement) for such calendar quarter. Said written statements shall set forth (I) for each PRODUCT on ****, the calculation of NET REVENUES from gross revenues during that calendar quarter, the applicable percentage royalty rates, and a computation of such royalties due and (II) such details of the transactions arising from the exploitation of the ELAN DDS IONTOPHORETIC INTELLECTUAL PROPERTY and/or the IOMED PATENT RIGHTS and/or the IOMED KNOW-HOW as are relevant to the calculation of NET REVENUES (the "Royalty Statement").

IOMED. shall keep and shall cause its AFFILIATES and sublicensees to keep true and accurate records of sales of PRODUCTS, other transactions giving rise to NET REVENUSREVENUES, and the royalties payable to ELAN DDS under Article IV hereof and shall deliver to ELAN DDS a written statement thereof within forty five (45) days following the and end of each calendar quarter (or any past part thereof in the first or last calendar quarter of this Agreement) for such calendar quarter. Said written statements shall set forth (I1) for each PRODUCT on ****, the calculation of NET REVENUES from gross revenues during that calendar quarter, the applicable percentage royalty rates, and a computation of such royalties due and (II) such details of the transactions arising from the exploitation of the ELAN DDS IONTOPHORETIC INTELLECTUAL PROPERTY and/or the IOMED PATENT RIGHTS and/or the IOMED KNOW-HOW as are relevant to the calculation of NET REVENUES (the "Royalty Statement").