Payment Direction; Reports Clause Samples

Payment Direction; Reports. Following the consummation of the Transaction, Sponsor shall remain responsible for the performance of its obligations and the exercise of its rights under the Agreement, however, Counterparty agrees that, upon written notice from Sponsor (or any direct or indirect permitted Assignee contemplated by Section 1 above), Counterparty shall deliver any future payments contemplated by the Agreement, together with any royalty or other reports or statements contemplated by the Agreement (“Reports”) to the Assignee, in accordance with the directions in such written notice; provided copies of Reports are also simultaneously sent to the Sponsor.