Common use of Royalty Report and Payment Clause in Contracts

Royalty Report and Payment. During the Royalty Term, no later than [***] after the end of each Calendar Quarter, Purchaser or its Affiliates shall pay to Seller the Royalty Payments payable for such Calendar Quarter and provide a royalty report (the “Royalty Report”) showing: (i) the Net Sales of each Product sold by (A) Purchaser and its Affiliates and (B) Purchaser’s Commercial Licensees, in each case during such Calendar Quarter; (ii) the Royalty Payments, reflected in Dollars, which shall have accrued hereunder with respect to any Net Sales of each Product; (iii) withholding Taxes, if any, to be deducted with respect to such Royalty Payments; and (iv) the rate of exchange, if applicable, as calculated using the average of the foreign currency exchange rate for converting the applicable currency into Dollars as published by Bloomberg Business during the Calendar Quarter.

Royalty Report and Payment. During the Royalty Term, no later than [***] after the end of each Calendar Quarter, Purchaser or its Affiliates shall pay to Seller Holding the Royalty Payments payable for such Calendar Quarter and provide a royalty report (the “Royalty Report”) showing: (i) the Net Sales of each Patented Product sold by (A) Purchaser and its Affiliates and (B) Purchaser’s Commercial Licensees, in each case during such Calendar Quarter; (ii) the Royalty Payments, reflected in Dollars, which shall have accrued hereunder with respect to any Net Sales of each Patented Product; (iii) withholding Taxes, if any, (x) deducted on a Product-by-Product and country-by-country basis and (y) subject to be deducted Section 1.04(b) in connection with respect to the payment of such Royalty Payments; and (iv) the rate of exchange, if applicable, as calculated using the average of the foreign currency exchange rate for converting the applicable currency into Dollars as published by Bloomberg Business during the Calendar Quarter.