Royalty Reports; Royalty Payments. [***]. Within [***] Business Days following the end of each Calendar Quarter after the First Commercial Sale of a Licensed Product in the Licensee Territory or the Takeda Territory, as applicable, the Royalty-paying Party will provide the other Party with a Royalty report in respect of such Calendar Quarter for the other Party’s review and confirmation within [***] Business Days from receipt, which report (each, a “Royalty Report”) will include (a) the amount of gross sales (in U.S. dollars) of the Licensed Products in the Licensee Territory or the Takeda Territory (as applicable), (b) an itemized calculation of Net Sales in the Licensee Territory or Takeda Territory (as applicable) showing deductions, to the extent practicable, provided for in the definition of “Net Sales”, (c) a calculation of the Royalty payment due on such sales by such Party, (d) an accounting of the number of units and prices for the Licensed Products sold by such Party, (e) the application of the reductions, if any, made pursuant to Section 9.2.3 (Royalty Reductions), and (f) any additional Information reasonably required by the other Party for the purpose of calculating Royalties. [***]. Within [***] Business Days following the written confirmation of the applicable quarterly Royalty Report, a Party will pay all amounts due to other Party pursuant to Section 9.2 (Royalties) and set forth in such Royalty Reports with respect to Net Sales for such Calendar Quarter.
Royalty Reports; Royalty Payments. The Royalty Paying Party shall deliver to the Royalty Receiving Party, within thirty (30) days after the end of each calendar quarter, reasonably detailed written accountings of Net Sales of Royalty Bearing Products that are subject to royalty payments due to the Royalty Receiving Party for such calendar quarter. Such accountings shall be Confidential Information of the Royalty Paying Party unless otherwise excluded by Section 6.1(b). Such quarterly reports shall indicate (i) gross sales and Net Sales (including reasonable detail for deductions from gross sales to Net Sales) Royalty Bearing Product-by-Royalty Bearing Product basis in the Territory, and (ii) the calculation of royalties from such gross sales and Net Sales. When the Royalty Paying Party delivers such accounting to the Royalty Receiving Party, the Royalty Paying Party shall also deliver all royalty payments due under Section 5.2 or 5.3, as applicable, to the Royalty Receiving Party for the calendar quarter.
Royalty Reports; Royalty Payments. Infinity shall deliver to Purdue, within thirty (30) days after the end of each calendar quarter during the applicable Royalty Term, reasonably detailed written accountings of Net Sales of Products that are subject to royalty payments due to Purdue for such calendar quarter. Such accountings shall be Confidential Information of Infinity unless otherwise excluded by Section 5.1(b). Such quarterly reports shall indicate (i) gross sales and Net Sales (including reasonable detail for deductions from gross sales to Net Sales) on a country-by-country and Product-by-Product basis, and (ii) the calculation of royalties from such gross sales and Net Sales. When Infinity delivers such accounting to Purdue, Infinity shall also deliver all royalty payments due under Section 4.1 to Purdue for the calendar quarter.
Royalty Reports; Royalty Payments. CTI shall deliver to Abbott, within sixty (60) days after the end of each calendar quarter, sufficiently detailed written accountings of Net Sales of Products that are subject to royalty payments due to Abbott or Third Parties, in accordance with this Agreement, including, without limitation, Acusphere and Skye Pharma, for such calendar quarter. Such quarterly reports shall indicate gross sales on a country-by-country basis, the deductions from gross sales used in calculating Net Sales and the resulting calculation of royalties. When CTI delivers such accountings to Abbott, CTI shall also deliver all royalty payments due under Section 6.3 to Abbott for the calendar quarter. With respect to sales of products invoiced in United States Dollars, the sales and royalties payable shall be expressed in United States Dollars. With respect to sales of products invoiced in a currency other than United States Dollars, such foreign currency amounts shall be converted into United States Dollars at the official average monthly rates used by Xxxxxx Laboratories for conversion of its monthly financial statements - the average B.2.0 rate. The month end B.2.0 rate is determined by taking the numbers from the 9:00 am CST Reuters screen at the second to last business day of each month (with the exception of November, when the rate is taken on the last business day). With the exception of the Euro, British Pound, Australian Dollar and New Zealand Dollar, the ask price is used. For the four (4) aforementioned currencies the bid rate is used. An average monthly rate is determined by taking the calculated average of the prior last business day of the month book rate and the current last business day of the month book rate.
Royalty Reports; Royalty Payments. The Party owing royalties under Section 7.2 or 7.3, as applicable (the “Paying Party”), shall deliver to the other Party (the “Payee”), within […***…] days after the end of each calendar quarter, reasonably detailed written accountings of the Paying Party’s Net Product Sales and/or Net Assay Revenue, as applicable (in each case, the “Net Amount”) during such calendar quarter. Such quarterly reports shall indicate the Net Amount (on a Product-by-Product basis), and the resulting calculation of royalties. The Parties acknowledge that if both Parties have incurred royalty obligations during a calendar quarter, then, after each party has had a reasonable opportunity to review the other party’s written report of gross sales and Net Amounts for such quarter, the Parties may mutually agree to have the Paying Party owing the greater amount of royalties during such calendar quarter remit a net payment of the difference between the two royalty amounts rather than requiring both Parties to make separate payments. Gross sales, Net Amounts and applicable royalties payable shall be expressed in United States Dollars.
Royalty Reports; Royalty Payments. CTI shall deliver to Abbott, within sixty (60) days after the end of each calendar quarter, sufficiently detailed written accountings of Net Sales of Products that are subject to royalty payments due to Abbott in accordance with this Agreement for such calendar quarter. Such quarterly reports shall indicate gross sales on a country-by-country basis, the deductions from gross sales used in calculating Net Sales and the resulting calculation of royalties. When CTI delivers such accountings to Abbott, CTI shall also deliver all royalty payments due under Section 6.3 to Abbott for the calendar quarter. With respect to sales of products invoiced in United States Dollars, the sales and royalties payable shall be expressed in United States Dollars. With respect to sales of products invoiced in a currency other than United States Dollars, such foreign currency amounts shall be converted into United States Dollars at the official average monthly rates used by Abbott for conversion of its monthly financial statements - the average B.2.0 rate. The month end B.2.0 rate is determined by taking the numbers from the 9:00 am CST Reuters screen at the second to last business day of each month (with the exception of November, when the rate is taken on the last business day). With the exception of the Euro, British Pound, Australian Dollar and New Zealand Dollar, the ask price is used. For the four (4) aforementioned currencies the bid rate is used. An average monthly rate is determined by taking the calculated average of the prior last business day of the month book rate and the current last business day of the month book rate.
Royalty Reports; Royalty Payments. Infinity shall deliver to MICL, within thirty (30) days after the end of each calendar quarter during the applicable Royalty Term, reasonably detailed written accountings of Net Sales of Products that are subject to royalty payments due to MICL for such calendar quarter. Such accountings shall be Confidential Information of Infinity unless otherwise excluded by Section 5.1(b). Such quarterly reports shall indicate (i) gross sales and Net Sales (including reasonable detail for deductions from gross sales to Net Sales) on a country-by-country and Product-by-Product basis, and (ii) the calculation of royalties from such gross sales and Net Sales. When Infinity delivers such accounting to MICL, Infinity shall also deliver all royalty payments due under Section 4.1 to MICL for the calendar quarter.
Royalty Reports; Royalty Payments. Each Party obligated to pay royalties to the other Party under Sections 5.5 and 5.6 above (a "Royalty-Paying Party") shall deliver to the other Party (the "Royalty Recipient"), within sixty (60) days after the end of each calendar quarter, reasonably detailed written accountings of Net Sales of Royalty-Bearing Products that are subject to royalty payments due to the Royalty Recipient for such calendar quarter. Such quarterly reports shall indicate gross sales on a country-by-country and product-by-product basis and the calculation of royalties from such gross sales. When the Royalty-Paying Party delivers such accountings to the Royalty Recipient, the Royalty-Paying Party shall also deliver all royalty payments due under Section 5.5 or Section 5.6 to the Royalty Recipient for the calendar quarter. With respect to sales of products invoiced in U.S. Dollars, the sales and royalties payable shall be expressed in U.S. Dollars. With respect to sales of products invoiced in a currency other than U.S. Dollars, the sales and royalties payable shall be expressed in their U.S. Dollar equivalent, calculated using the applicable conversion rates for buying United States dollars published by THE WALL STREET JOURNAL on the last business day of the calendar quarter to which the royalty report relates.
Royalty Reports; Royalty Payments. BD shall deliver to Newco, and Newco and TriPath shall each deliver to BD, within sixty (60) days after the end of each calendar quarter, reasonably detailed written accountings of Net Sales on Program Products and Third Party Pharmacogenomic Products that are subject to royalty payments for such calendar quarter. Such quarterly reports shall indicate (i) gross sales and Net Sales on a product-by-product basis, and (ii) the calculation of royalties from such Net Sales. When a Party delivers such accounting to another Party, it shall also deliver all royalty payments due under Section 4.2 to the other Party for the calendar quarter.
Royalty Reports; Royalty Payments. BSC shall deliver to NitroMed, within forty-five (45) days after the end of each calendar quarter, reasonably detailed written accountings of Net Sales of Royalty-Bearing Products that are subject to royalty payments due to NitroMed for such calendar quarter. Such quarterly reports shall indicate (i) gross sales and Net Sales on a country-by-country and Royalty-Bearing Product-by-Royalty-Bearing Product basis, and (ii) the calculation of royalties from such gross sales and Net Sales. When BSC delivers such accounting to NitroMed, BSC shall also deliver all royalty payments due under Section 4.4 to NitroMed for the calendar quarter.
