Common use of Payment Dates and Reports Clause in Contracts

Payment Dates and Reports. Within [***] after the end of each calendar quarter of each year during the Term of this Agreement (including the last day of any calendar quarter following the expiration of this Agreement), Licensee shall pay to Northwestern, all fees and royalties accruing during such calendar quarter. Any payments of royalties shall be accompanied by a statement showing the Net Sales of each Licensed Product by Licensee and its Sublicensees in each country, the applicable royalty rate and the calculation of the amount of royalty due.

Payment Dates and Reports. Within [***] sixty (60) days after the end of each calendar quarter of each year during the Term term of this Agreement (including the last day of any calendar quarter following the expiration of this Agreement), Licensee shall pay to Northwestern, all fees and royalties accruing during such calendar quarter. Any Such payments of royalties shall be accompanied by a statement showing the Net Sales of each Licensed Product by Licensee and its Sublicensees sublicensees in each country, the applicable royalty rate and the calculation of the amount of royalty due.