Common use of Reports; Payment of Royalty Clause in Contracts

Reports; Payment of Royalty. During the term of the Agreement following the First Commercial Sale of a Product or Test, MERCK shall furnish to deCODE a quarterly written report for the Calendar Quarter showing the Net Sales of all Products or Tests subject to royalty payments sold by MERCK and its Related Parties in the Territory during the reporting period and the royalties payable under this Agreement. Reports shall be due on the sixtieth (60) day following the close of each Calendar Quarter. Royalties shown to have accrued by each royalty report shall be due and payable on the date such royally report is due. MERCK shall keep complete and accurate records in sufficient detail to enable the royalties payable hereunder to be determined.

Reports; Payment of Royalty. During the term of the Agreement following Following the First Commercial Sale of a Product or Testand during the term of the Agreement, MERCK shall furnish to deCODE ARENA a quarterly written report for the Calendar Quarter showing the Net Sales sales of all Products or Tests subject to royalty payments sold by MERCK MERCK, its Affiliates and its Related Parties sublicensees in the Territory during the reporting period and the royalties payable under this Agreement. Reports shall be due on the sixtieth (6060th) day following the close of each Calendar Quarter. Royalties shown to that have accrued by each royalty report in a particular Calendar Quarter shall be due and payable on the date such royally royalty report is due. MERCK shall keep complete and accurate records in sufficient detail to enable the royalties payable hereunder to be determined.

Reports; Payment of Royalty. During the term of the Agreement following the First Commercial Sale of a Product or TestLicensed Product, MERCK shall furnish to deCODE NITROMED a quarterly written report for the Calendar Quarter showing the Net Sales sales of all Licensed Products or Tests subject to royalty payments sold by MERCK MERCK, its Affiliates and its Related Parties sublicensees in the Territory during the reporting period and the royalties payable under this Agreement. Reports shall be due on the sixtieth (60) day following the close of each Calendar Quarter. Royalties shown to have accrued by each royalty report shall be due and payable on the date such royally royalty report is due. MERCK shall keep complete and accurate records in sufficient detail to enable the royalties payable hereunder to be determined.

Reports; Payment of Royalty. During the term of the Agreement Term following the First Commercial Sale of a Product or TestProduct, MERCK Merck shall furnish to deCODE SurModics a quarterly written report for the Calendar Quarter showing the Net Sales on a country-by-country basis of all Products or Tests subject to royalty payments sold by MERCK Merck and its Related Parties in the Territory during the reporting period period, total deductions and the royalties payable under this Agreement. Reports shall be due on the sixtieth (60) [*] day following the close of each Calendar Quarter. Royalties shown to have accrued by each royalty report shall be due and payable on the date such royally royalty report is due. MERCK Merck shall keep complete and accurate records in sufficient detail to enable the royalties payable hereunder to be determined.