Common use of Reports and Information Exchange Clause in Contracts

Reports and Information Exchange. Each of Dyax and Genzyme shall use commercially reasonable and diligent efforts to disclose to the other Party and, if applicable, Kallikrein LLC, all material information relating to any Collaboration Product promptly after it is learned or its materiality is appreciated. The Party performing or supervising clinical trials of Collaboration Products in accordance with the Development Plan shall, on behalf and in the name of the owner of the clinical trial data accumulated from all clinical trials of Collaboration Products, maintain the database of such data and of adverse reaction information for all such Collaboration Products. Each Party shall also keep the Program Management Team informed as to its progress in the Development Plan. Within sixty (60) days following the end of each calendar quarter during the Development Program, each of Dyax and Genzyme shall provide the other Parties with a reasonably detailed written report describing the progress to date of all activities for which such Party was allocated responsibility during such quarter under the Development Plan.