Common use of Record Keeping, Reports Clause in Contracts

Record Keeping, Reports. A. Simultaneously with each payment set forth in Article “7” of this Agreement, the Licensee shall furnish the Licensor with a detailed statement, certified to be true and correct by both its president and another executive officer, provided that the president and such other executive officer are not the same person, setting forth with respect to such calendar quarter period: (1) all sublicenses of the Technologies, (2) all revenues derived from sublicenses of the Technologies, (3) all sublicenses of the rights to manufacture and sell Products, (4) all revenues derived from sublicenses of the rights to manufacture and sell Products, (5) all Net Sales of Products by the Licensee, or its Sublicensees or Affiliates (6) any trade discounts and allowances, and (7) all credits for returned units of the Products and other similar adjustments together with copies of documents which support the detailed statement.

Record Keeping, Reports. A. Simultaneously with each payment set forth in Article “"7” " of this Agreement, the Licensee shall furnish the Licensor with a detailed statement, certified to be true and correct by both its president and another executive officer, provided that the president and such other executive officer are not the same person, setting forth with respect to such calendar quarter period: (1) all sublicenses of the Technologies, (2) all revenues derived from sublicenses of the Technologies, (3) all sublicenses of the rights to manufacture and sell Products, (4) all revenues derived from sublicenses of the rights to manufacture and sell Products, (5) all Net Sales of Products by the Licensee, or its Sublicensees or Affiliates (6) any trade discounts and allowances, and (7) all credits for returned units of the Products and other similar adjustments together with copies of documents which support the detailed statement.