REPORT ON TERMINATION Sample Clauses
The "Report on Termination" clause requires one or both parties to formally notify the other when a contract is being ended. In practice, this clause typically outlines the method, timing, and content of the termination report, such as specifying that written notice must be provided within a certain number of days and detailing the reasons for termination. Its core function is to ensure transparency and clear communication between parties, reducing misunderstandings and providing a documented record of the contract's conclusion.
REPORT ON TERMINATION. Licensee also agrees to make a written report to Licensor within ninety (90) days after the termination of this Agreement, stating in such report the royalties payable hereunder and the basis therefor not previously reported to Licensor. Licensee shall also continue to make annual reports pursuant to the provisions of this Agreement covering making, using or selling of Products after termination thereof, such as the selling of stock on hand at termination which is specifically contemplated by this Agreement and the applicable earned royalties hereunder, until such time as all such makings, uses or sales shall have terminated. Concurrent with the submittal of each post-termination report, Licensee shall pay Licensor all applicable royalties.
REPORT ON TERMINATION. Licensee also agrees to make a written report to Licensor within ninety (90) days after the expiration or termination of this Agreement, stating in such report the amounts payable hereunder and the basis therefor not previously reported to Licensor. In the event of a termination prior to expiration of the Term, Licensee shall also continue to make annual reports pursuant to the provisions of this Agreement covering sales, uses, or production and the applicable earned royalties and other amounts payable hereunder for Licensed Products made during the Term, but not used or sold until after termination thereof, until such time as all such makings, uses or sales shall have terminated. Concurrent with the submittal of such post-expiration or post-termination report, Licensee shall pay Licensor all applicable royalties and other amounts payable hereunder.