Reports Records and Payments Sample Clauses

Reports Records and Payments. Before the thirtieth (30) day following each quarterly period ending September 30, 1997, December 31, 1997, and March 31, 1998, June 30, 1998, and so on, respectively, from the date of the signing of this Agreement, all production minimums and sales, and related royalties payable hereunder shall be reported to LICENSOR. LICENSEE shall furnish to LICENSOR a statement, certified by an officer of LICENSEE, showing all licensed "units" and/or "fuel pellets" manufactured and sold by LICENSEE during such quarter. This report shall include details of all production and sales and a computation of the royalties payable pursuant to paragraph 3 hereof. In that itemization, sales of all companies operating as sublicensees of LICENSEE shall also be reported. This statement shall be submitted to LICENSOR even if no sales have taken place during the applicable quarterly period. Concurrent with the conveyance of such royalty report, LICENSEE shall pay to LICENSOR all royalties as are due and payable. All sums of money payable by LICENSEE to LICENSOR under this Agreement shall be paid in United States currency and to the LICENSOR directly, or to an account designed by LICENSOR. Payment shall be made in accordance with the definition of net selling price of "units" and/or "fuel pellets" of the inventions licensed hereunder, as set out in the definitions portion of this Agreement. Where foreign currency is received, such shall be converted into United States currency using the foreign exchange rate as set for bank transfers in the United States for payment abroad, less all expenses relating to the conversion and/or collection thereof. The exchange rate shall be that which is in effect for the last business day of a calendar quarter in which the sales were made. LICENSEE shall keep complete, true and accurate books of account containing all particulars of their business activities as necessary for demonstrating the accuracy of the report rendered to LICENSOR setting out the amount to be paid to LICENSOR by way of royalties, as set forth above. Such books of account and supporting data shall be open at any reasonable time for a period of five (5) years following the end of a calendar year to which they pertain for the inspection of LICENSOR, or his representatives, for the purpose of verifying LICENSEE's royalty statements, or LICENSEE's compliance with respect to other aspects of this Agreement.

Reports Records and Payments. 5.1 Beginning January 1, 2008 and ending on the date of first commercial sale of a Licensed Product, MYMETICS shall submit to PEVION annual progress reports covering MYMETICS' (and Affiliate's and Sublicensee's) activities to develop and test all Licensed Products and obtain governmental approvals necessary for marketing the same. Such reports shall include an overview of work completed; overview of work in progress; current schedule of anticipated events or milestones; market plans for introduction of Licensed Products in the reporting period. MYMETICS shall also report to PEVION, in its immediately subsequent progress report, the date of first commercial sale of a Licensed Product in each country of the Territory. 5.2 MYMETICS shall inform PEVION in writing no later than thirty (30) days after signing any collaboration-, partnering- or sublicensing agreement comprising the Licensed Product. 5.3 MYMETICS shall inform PEVION in writing no later than thirty (30) days after receiving any up-front payments, milestone payments and/or other monetary considerations provided that such monetary consideration is attributed to the Licensed Products. MYMETICS shall pay PEVION the fees according Paragraph 4.2 no later than sixty (60) days after receiving the up-front payments, milestone payments and/or other monetary considerations. 5.4 After the first commercial sale of a Licensed Product anywhere in the world, MYMETICS shall submit to PEVION quarterly royalty reports on or before each February 28, May 31, August 31 and November 30 of each year. Each royalty report shall cover MYMETICS' (and each Affiliate's and Sublicensee's) most recently completed calendar quarter and shall show: * The number of each type of Licensed Product sold and the Net Sales during the most recently completed calendar quarter; * The sublicense fees and royalties received during the most recently completed calendar quarter in Swiss Francs pursuant to Subsection 5.6 of this Agreement; * The royalties and sublicense fees payable in Swiss Francs, including the method used to calculate the royalties and the exchange rates used pursuant to Subsection 5.6 of this Agreement. If no sale of Licensed Products has been made and no sublicense revenues has been received by MYMETICS during any reporting period, MYMETICS shall so report. 5.5 MYMETICS shall keep, and shall require its Affiliates and Sublicensees to keep, accurate and correct records of all Licensed Products used, and sold, and sublicense fee...

Reports Records and Payments a. Following receipt of Oncorus’s written notifications under Section 7.3, ▇▇▇▇▇ will issue an invoice to Oncorus for the applicable payment. Oncorus shall pay all fees within [***] ([***]) days of invoice. b. Prior to the First Commercial Sale of the first Product, within [***] ([***]) days after the end of each calendar year during the Term, Oncorus shall provide a written report to ▇▇▇▇▇ summarizing the major events in development and commercialization of Product, including clinical trials, during the preceding year. c. After the First Commercial Sale of the First Product, within [***] ([***]) days after each of 1 January, 31 March, 30 June and 30 September in any year of the Term, Oncorus shall provide written reports to ▇▇▇▇▇ which shall show: i. The gross sales, Allowable Deductions and Net Sales during the preceding three months payable with respect thereto. If no sales of a particular Product have been made, then Oncorus shall so report. ii. The cumulative Net Sales, and resulting determination of any Net Sales Milestone achieved during the preceding three months. iii. The number of each type of Product supplied, broken down on a country-by-country basis. iv. The method used to calculate Sub-licensing Fees and details of Reachthrough Revenues. v. Any sales or other supplies made otherwise than on arms-length terms including the party to whom they were made and details of the terms. vi. The exchange rates used. d. The reports will be accompanied by payment in cleared funds of all payments due under this Agreement in accordance with the reports. e. Oncorus shall keep accurate and correct financial books and records of all Products and Checkpoint Blockade Agents (to the extent the latter are subject to payments under Section 6) used, and sold. Such records shall be retained by Oncorus for at least the period of time required under the Applicable Law or [***] ([***]) years following a given reporting period, which ever period is longer. f. All records shall be available upon reasonable prior notice and during normal business hours for inspection for a period of [***] ([***]) years from the end of the calendar year in which they pertain by a nationally-recognized U.S. public accounting firm selected by ▇▇▇▇▇ or UZH as the case may be and reasonably acceptable to Oncorus for the sole purpose of verifying reports and payments. No accounting period will be subject to audit more than [***]. In no event will such inspections be conducted hereunder more frequ...

Reports Records and Payments. 9.1 The Licensee shall provide written reports detailing Gross Sales, Licence Payments, commercialisation of Licensed IP and Products, progress with Milestones, and other information as specified in Item 8 of the Details or reasonably required by the Licensor in relation to this Agreement. Unless otherwise provided in Item 8, reports shall be half-yearly, within 30 days after each period ending on the last days of June and December in each year). 9.2 The Licensee shall: (a) keep (and ensure its sub-licensees keep) records and accounts containing information reasonably necessary for calculation and verification of amounts payable and for reporting under this Agreement (including efforts to commercially apply the Licensed IP) and shall, if requested by the Licensor from time to time at the Licensor’s cost, provide copies of such information; and (b) permit the Licensor or its representative (including an independent accountant appointed by the Licensor at Licensor’s expense) to inspect and take copies of the Licensee’s records and accounts to the extent necessary to verify reports and payments under this Agreement. 9.3 Any error or discrepancy in the Licensee’s records or accounts shall be promptly amended. If any amount payable to the Licensor has been underpaid, by more than 2%, unless the Licensor determines otherwise, the expenses of the inspection, the overdue amount and accrued interest pursuant to clause 15.2 shall be immediately payable. 9.4 The Licensee shall ensure that the Licensor has similar rights as provided in this clause 9 with respect to any sub-licensee of Licensee.

Reports Records and Payments. 5.1 PEVION commits to keep MYMETICS management informed of the significant evolutions of its virosome technology on a regular basis, but at least annually, with more in depths information being available to MYMETICS' CSO through PEVION's CSO, on a need-to-know basis.

Reports Records and Payments. (a) LICENSEE shall provide to UNIVERSITY semi-annual progress reports covering LICENSEE’S evaluation activities of Invention. The progress reports are due semi- annually, on June 30 and December 31 of each year and for the life of this Agreement. The reports referred to in this Section 4.1(a) should be marked with the following title and case number: “License Agreement between UCSD and <LICENSEE NAME> for case <XXXX-XXX>.” Reports shall be submitted as attachment to UCSD’s email address: ▇▇▇-▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇. (b) The progress reports will include, but are not limited to, the following topics so that UNIVERSITY may determine the progress and status of LICENSEE’S evaluation: • a summary of work completed; • the results of LICENSEE’S evaluation of Invention; • a summary of work in progress; • a summary of resources (dollar value and labor) expended in the reporting period; • a current schedule of anticipated events or milestones; and • a conclusion of LICENSEE’S evaluation of Invention leading to its decision on whether or not to exercise the evaluation license granted herein.

Reports Records and Payments