Common use of REPORT ON TERMINATION Clause in Contracts

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.