Common use of Reports; Payment of Royalty Clause in Contracts

Reports; Payment of Royalty. During the Term, beginning with the Calendar Quarter during which the earlier of (a) the First Commercial Sale of a Licensed Product occurs or (b) Sublicense Revenue is first received, Telix shall furnish to Lilly a quarterly written report for each Calendar Quarter showing (i) the Telix Net Sales of Licensed Products subject to royalty payments hereunder, broken down between Telix, its Affiliates, and any Sublicensees during the reporting period, and (ii) Sublicense Revenue received during the applicable Calendar Quarter, and the royalties payable under this Agreement with respect to any of the foregoing, including a detailed reporting of the calculation of Net Sales (including the deductions used to calculate Net Sales from gross sales and the calculation of any royalty adjustments under Section 6.3(b))