Royalty Reports; Inspection Sample Clauses

Royalty Reports; Inspection. License agrees to keep accurate and correct records of Licensed Products made, used, or sold and Licensed Processes practiced under this Agreement appropriate to determine the amount of royalties due Licensor. Upon *** prior notice to Licensee and during normal business hours, but not more frequently than once per calendar year, an independent auditor paid for and selected by Licensor (which selection shall be with the reasonable consent of the Licensee) may inspect such books and records of Licensee, its Affiliates and Sub-licensees at their respective facilities for the *** immediately preceding the date of inspection, to verify the correctness of the reports given to Licensor under, this Section 4.07. If an inspection shows an underreporting or underpayment *** then Licensee shall reimburse Licensor for the cost of the inspection.
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Royalty Reports; Inspection. Each Calendar Half Year royalty payment shall be accompanied by a written report for the applicable period setting forth SANDOZ' computation of royalties due under this Agreement in respect of sales by SANDOZ, its Affiliates and any sublicensee during the applicable Calendar Half year. SANDOZ shall keep, and shall cause its Affiliates and sublicensees to keep, accurate records and books of account of all Licensed products sold for a prior of at least 3 years following the date of such sale. Upon reasonable notice to SANDOZ and during normal business hours, but not more frequently than once a year, an independent Certified Public Accountant paid for and selected by PDL and approved by SANDOZ, such approval not to be unreasonably withheld, may inspect such books and records under this Agreement. Notwithstanding the foregoing, if a material discrepancy of more than 5% or $5,000 (whichever is greater) in SANDOZ' favor is found between royalties paid and actual royalties due for any Calendar Half Year, all costs of such inspection shall be borne by SANDOZ. Following any such inspection, the parties shall make any adjustments necessary in respect of royalties previously paid to PDL.
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Related to Royalty Reports; Inspection

  • Royalty Reports After the first commercial sale of a Licensed Product anywhere in the world, LICENSEE shall submit to UNIVERSITY quarterly royalty reports on or before each February 28, May 31, August 31 and November 30 of each year. Each royalty report shall cover LICENSEE’s (and each Affiliate’s and Sublicensee’s) most recently completed calendar quarter and shall show:

  • Reports and Rights of Inspection The Company will keep, and will cause each Consolidated Subsidiary to keep, proper books of record and account in which full and correct entries will be made of all dealings or transactions of, or in relation to, the business and affairs of the Company or such Consolidated Subsidiary, in accordance with GAAP consistently applied (except for changes disclosed in the financial statements furnished to the Holders pursuant to this SECTION 5.15 and concurred with by the independent public accountants referred to in SECTION 5.15(b) hereof), and will furnish to each Institutional Holder of the then outstanding Notes (in duplicate if so specified below or otherwise requested):

  • Audits/Inspections Upon reasonable notice and during normal business hours, the Borrower will, and will cause each of its Subsidiaries to, permit representatives appointed by the Administrative Agent, including, without limitation, independent accountants, agents, attorneys, and appraisers to visit and inspect its property, including its books and records, its accounts receivable and inventory, its facilities and its other business assets, and to make photocopies or photographs thereof and to write down and record any information such representative obtains and shall permit the Administrative Agent or its representatives to investigate and verify the accuracy of information provided to the Lenders and to discuss all such matters with the officers, employees and representatives of such Person.

  • Inspection of Reports The Depositary shall make available for inspection by holders of Receipts at the Corporate Office and at such other places as it may from time to time deem advisable during normal business hours any reports and communications received from the Company that are both received by the Depositary as the holder of deposited Preferred Stock and made generally available to the holders of the Preferred Stock. In addition, the Depositary shall transmit certain notices and reports to the holders of Receipts as provided in Section 5.05.

  • PROGRESS AND ROYALTY REPORTS 8.1. For the period beginning January 1st 2007, LICENSEE will submit to REGENTS a semi-annual progress report covering LICENSEE’s activities related to the development and testing of all LICENSED PRODUCTS, LICENSED SERVICES and LICENSED METHOD and the obtaining of necessary governmental approvals, if any, for marketing in the United States. These progress reports will be made for all development activities until the first SALE occurs in the United States.

  • Royalty Report The term “Royalty Report” shall have the meaning ascribed to such term as provided in Section 5.4.

  • Inspection; Reports (a) The Shipowner will at all reasonable times afford the Mortgagee or its authorized representatives full and complete access to the Vessel for the purpose of inspecting the Vessel and her cargo and papers, including without limitation all records pertaining to the Vessel’s maintenance and repair, and, at the request of the Mortgagee, the Shipowner will deliver for inspection copies of any and all contracts and documents relating to the Vessel, whether on board or not.

  • Agreements Regarding Collateral and Field Examination Reports (ll) Lien Releases;

  • Maintenance of Books and Records; Inspection The Company shall maintain its books, accounts and records in accordance with generally accepted accounting principles consistently applied, and permit the Secured Party, its officers and employees and any professionals designated by the Secured Party in writing, at any time to visit and inspect any of its properties (including but not limited to the collateral security described in the Transaction Documents and/or the Loan Instruments), corporate books and financial records, and to discuss its accounts, affairs and finances with any employee, officer or director thereof.

  • Development Reports Beginning six months after Effective Date and ending on the date of first commercial sale of a Licensed Product in the United States, LICENSEE shall report to Cornell progress covering LICENSEE's (and Affiliate's and Sublicensee's) activities and efforts in the development of rights granted to LICENSEE under this Agreement for the preceding six months. The report shall include, but not be limited to, activities and efforts to develop and test all Licensed Products and obtain governmental approvals necessary for marketing the same. Such semi-annual reports shall be due within sixty days (60) of the reporting period and shall use the form as provided herein as Appendix C.

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