Common use of Quarterly Royalty Payment and Report Clause in Contracts

Quarterly Royalty Payment and Report. LICENSEE shall make written reports and royalty payments to LICENSOR within ninety (90) days after the end of each calendar quarter following the First Commercial Sale ("Quarterly Report"). This Quarterly Report shall state the number, description, and aggregate Net Sales of Licensed Product(s) during such completed calendar quarter, and resulting calculation of earned royalty payment due the LICENSOR for such completed calendar quarter. Concurrent with the making of each such report, LICENSEE shall include payment due LICENSOR of royalties for the calendar quarter covered by such report. All Payments pursuant to the License shall be made and sent to the following address: Director Office of Technology Transfer The University of Arizona X.X. Xxx 000000 Xxxxxx, XX 00000-0000

Quarterly Royalty Payment and Report. LICENSEE shall make written reports and royalty payments to LICENSOR within ninety (90) days after the end of each calendar quarter following the First Commercial Sale ("Quarterly Report")Sale. This Quarterly Report report shall state the number, description, and aggregate Net Sales of Licensed Product(s) during such completed calendar quarter, and resulting calculation of earned royalty payment due the LICENSOR for such completed calendar quarter. Concurrent with the making of each such report, LICENSEE shall include payment due LICENSOR of royalties for the calendar quarter covered by such report. All Payments pursuant to the License shall be made and sent to the following address: Director Attention: UA #04-034; UA # 06-011 Office of Technology Transfer The University of Arizona X.X. Xxx 000000 Xxxxxx, XX 00000-0000