Common use of Reporting and Updates Clause in Contracts

Reporting and Updates. After the First Commercial Sale of a Product and until the expiry of the Agreement Term, GBT shall inform Roche in an annual report regarding the commercialization of Product(s) in the Field in the Territory by GBT, its Affiliates and Sublicensees in the preceding year. The first such annual report shall be provided within [***] after the end of the Calendar Year containing the First Commercial Sale. Each subsequent annual report shall be provided within [***] after the end of each Calendar Year thereafter until the expiration of all Royalty Terms. Each annual report shall include non-binding [***] sales projections (which may be expressed as a reasonable range), within [***] of the end of each Calendar Year thereafter until the expiration of all Royalty Terms. In addition to the foregoing, upon reasonable request of Roche, GBT shall update Roche regarding the commercialization of the Product(s) in the Territory in the Field by GBT, its Affiliates and Sublicensees. Upon such reasonable request of Roche, GBT shall provide an update, in writing and/or through a meeting (face to face/ tele-presence/videoconference or telephone). Roche shall not request an update more frequently than [***].