Payments; Reports. Within [**] after the end of each Calendar Quarter for which royalties are payable by one Party to the other Party under either Section 8.5 or Section 8.6, the Party that owes the royalty (the “Royalty-paying Party”) shall submit to the other Party a report, on a country-by-country basis, providing in reasonable detail an accounting of all Net Sales by the Royalty-paying Party and its Affiliates and Sublicensees in the Licensed Territory with respect to Net Sales by Biogen Idec and its Affiliates and Sublicensees and with respect to the AVEO Territory with respect to Net Sales by AVEO and its Affiliates and Sublicensees (including, in each case, an accounting of all unit sales of the Licensed Product and a calculation of the deductions from gross invoice price to Net Sales in accordance with Section 1.63) made during such Calendar Quarter and the calculation of the applicable royalties under Section 8.5 or 8.6, as the case may be. The Royalty-paying Party shall, at the time the Royalty-paying Party submits the report, pay to the other Party all amounts due to such other Party under Section 8.5 or 8.6, as the case may be, as indicated in the applicable report.
Appears in 4 contracts
Samples: Option and License Agreement (Aveo Pharmaceuticals, Inc.), Option and License Agreement, Option and License Agreement (Aveo Pharmaceuticals Inc)
