Common use of Quarterly Payments and Reports Clause in Contracts

Quarterly Payments and Reports. In each year the amount of royalty due shall be calculated quarterly as of the end of each CALENDAR QUARTER and shall be paid quarterly within the forty-five (45) days next following such date. Every such payment shall be supported by the accounting described in Section 4.9 of this Agreement. All royalties due BIOVENTURE and CMCC are payable in United States dollars. BIOVENTURE and CMCC shall each designate, in writing, one bank account to which CELGENE shall make all payments due hereunder to each, respectively. When PRODUCTS are sold for currency other than United States dollars, the earned royalties will first be determined in the foreign currency of the country in which such PRODUCTS were sold and then converted into equivalent United States funds. The exchange rate will be that rate quoted in The Wall Street Journal, NY Edition on the last business day of the CALENDAR QUARTER in which such sales were made.

Quarterly Payments and Reports. In each year the amount of royalty due shall be calculated quarterly as of the end of each CALENDAR QUARTER and shall be paid quarterly within the forty-five (45) days next following such date. Every such payment shall be supported by the accounting described in Section 4.9 of this Agreement. All royalties due BIOVENTURE and CMCC are payable in United States dollars. BIOVENTURE and CMCC shall each designate, in writing, one bank account to which CELGENE shall make all payments due hereunder to each, respectively. When PRODUCTS are sold for currency other than United States dollars, the earned royalties will first be determined in the foreign currency of the country in which such PRODUCTS were sold and then converted into equivalent United States funds. The exchange rate will be that rate quoted in The Wall Street Journal, NY Edition on the last business day of the CALENDAR QUARTER in which such sales were made.. -28- <PAGE> 4.9

Quarterly Payments and Reports. In each year the amount of royalty due shall be calculated quarterly as of the end of each CALENDAR QUARTER and shall be paid quarterly within the forty-five (45) days next following such date. Every such payment shall be supported by the accounting described in Section 4.9 of this Agreement. All royalties due BIOVENTURE and CMCC are payable in United States dollars. BIOVENTURE and CMCC shall each designate, in writing, one bank account to which CELGENE shall make all payments due hereunder to each, respectively. When PRODUCTS are sold for currency other than United States dollars, the earned royalties will first be determined in the foreign currency of the country in which such PRODUCTS were sold and then converted into equivalent United States funds. The exchange rate will be that rate quoted in The Wall Street JournalTHE WALL STREET JOURNAL, NY Edition EDITION on the last business day of the CALENDAR QUARTER in which such sales were made.