Quarterly Royalty Report Sample Clauses
The Quarterly Royalty Report clause requires a party, typically a licensee, to provide detailed reports of royalties earned or owed on a quarterly basis. In practice, this means the licensee must submit a statement every three months outlining sales figures, revenue generated, and the corresponding royalty payments due to the licensor. This clause ensures regular financial transparency and accountability, allowing the licensor to monitor income and verify that royalty payments are accurate and timely.
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Quarterly Royalty Report. Within thirty (30) days after the calendar year in which Net Sales first occur, and within 30 days after each calendar quarter thereafter, Licensee shall provide Licensor with a written report detailing all sales and uses, if any, made of Licensed Products and Licensed Methods during the preceding calendar quarter, and detailing the amount of Net Sales made during such quarter and calculating the royalties due pursuant to Sections 6.1 and 4.3 hereof. Each report shall include at least the following:
a. number of Licensed Products manufactured, leased and sold by and/or for Licensee, Affiliates and all Sublicensees;
b. accounting for all Licensed Methods used or sold by and/or for Licensee, Affiliates and all Sublicensees;
c. accounting for Net Sales, noting the deductions applicable as provided in Section 1.10;
d. royalties due under Section 4.4;
e. running royalties due under Section 4.3 and 4.6;
f. royalties due on other payments from Sublicensees and assignees under Section 4.5;
g. total royalties due;
h. names and addresses of all Sublicensees of Licensee;
i. the amount spent on product development; and
j. the number of full-time equivalent employees working on the Licensed Products and/or Licensed Methods. Each report shall be in substantially similar form as Exhibit “C” attached hereto. Each such report shall be signed by an officer of Licensee (or the officer’s designee). With each such report submitted, Licensee shall pay to Licensor the royalties and fees due and payable under this Agreement. If no royalties shall be due, Licensee shall so report. Licensee’s failure to submit a Royalty Report in the required form will constitute a breach of this Agreement. Licensee will continue to deliver Royalty Reports to Licensor after the termination or expiration of this Agreement until such time as all Licensed Product(s) permitted to be sold after termination have been sold or destroyed.
Quarterly Royalty Report. Within thirty (30) days after the first calendar quarter in which Net Sales first occur, and within thirty (30) days after each calendar quarter thereafter, AgeX shall provide BioTime with a written report detailing all sales and uses, if any, made of AgeX Products and AgeX Methods during the preceding calendar quarter, and detailing the amount of Net Sales made during such quarter and calculating the royalties due pursuant to Sections and, hereof. Each report shall include at least the following:
a) number of AgeX Products manufactured, leased and sold by and/or for AgeX, its Affiliates;
b) accounting for all AgeX Methods used or sold by and/or for AgeX, its Affiliates;
c) accounting for Net Sales, noting the deductions applicable as provided in Section;
d) minimum royalties due under Section , if applicable;
e) running royalties due under Section ;
f) total royalties due;
g) the amount spent on (i) Research for each AgeX Product and (ii) Development for each AgeX Product; and
h) the number of full-time equivalent employees working on AgeX Products and/or AgeX Methods. Each report shall be in substantially similar form as Exhibit G attached hereto. Each such report shall be signed by an officer of AgeX (or the officer’s designee). With each such report submitted, AgeX shall pay to BioTime the royalties and fees due and payable under this Agreement. If no royalties shall be due, AgeX shall so report. AgeX’s failure to submit a royalty report in the form required above will constitute a breach of this Agreement. AgeX will continue to deliver such reports to BioTime after the termination or expiration of this Agreement until such time as all AgeX Product(s) permitted to be sold after termination have been sold or destroyed.
Quarterly Royalty Report. During the period commencing on the First Commercial Sale of any Product by KYE or its permitted sublicensees and ending on the reporting date following expiration of the obligation of KYE to pay Royalties in respect of any Calendar Quarter in which Royalties accrue, KYE shall deliver to Catalyst quarterly written reports for the preceding Calendar Quarter for each Product showing the Net Sales of such Product subject to Royalty payments sold by or on behalf of KYE and/or its permitted sublicensees during the reporting period in Dollars and local currency. Such reports will also include detailed information regarding Gross Sales, Sales Deductions and Allowances, Net Sales of Product on which Royalties are paid, and amount of Royalties due or, if no Royalties are due, a statement that no Royalties are due for such Product. KYE shall translate the amount of such Net Sales at the foreign exchange rates used for the preparation of the consolidated financial statements of KYE under GAAP for the same period and consistently applied. Royalty reports shall be due twenty (20) days from the end of the respective Calendar Quarter. Upon receipt of such Royalty report, Catalyst will issue a Royalty invoice which is due and payable by KYE thirty (30) days from the receipt of such invoice.
Quarterly Royalty Report. Within sixty (60) days after the Quarter in which any First Commercial Sale occurs, and within sixty (60) days after each Quarter thereafter, MSGI shall provide Mount Sinai with a written report detailing the number and type of test (including a test for one or more conditions) by MSGI that is covered by one or more Valid Claims during such Quarter and the royalty payments due to Mount Sinai for such Quarter pursuant to Article 4 (each such report, a “Quarterly Report”). Each Quarterly Report shall include at least the following:
a. the number and type of test (including a test for one or more conditions) by MSGI that is covered by one or more Valid Claims;
Quarterly Royalty Report. RDA’s quarterly report shall be certified by an officer of RDA (or his or her designee) and shall contain the following information:
(i) identification by model or other identifying number, quantity, ASP and brief description of each Product upon which royalty has accrued;
(ii) the amount of royalties due for each Product, and the aggregate amount of all royalties due;
(iii) identification by type, number, quantity, and description of each Product Sold by or for RDA during such quarterly period and which is exempt from royalty under any provision of the Agreement , and the reason such exemption applies; and
(iv) in the event that any of the Sections 3.2 (b)(i) through (iii) do not apply, RDA shall so state. In the event no royalties are due, RDA’s report shall so state.
Quarterly Royalty Report. Within thirty (30) days after the Quarter in which any First Commercial Sale occurs, and within thirty (30) days after each Quarter thereafter, Licensee shall provide Mount Sinai with a written report detailing the amount of Gross Sales from Commercial Sales of Licensed Products during the preceding Quarter, the amount of Net Sales made during such Quarter and the royalty payments due to Mount Sinai for such Quarter pursuant to Article 4 (each such report, a “Quarterly Report”). Each Quarterly Report shall include at least the following:
(a) accounting for Net Sales, detailing the Gross Sales and specifying the deductions taken to arrive at Net Sales, listed by Licensed Product and by Jurisdiction;
(b) total royalty payments due to Mount Sinai by Licensed Product and by Jurisdiction.