Common use of Royalty Reports Clause in Contracts

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: (1) the gross sales, deductions as provided in Paragraph 1.11, and Net Sales during the most recently completed calendar quarter and the royalties, in US dollars, payable with respect thereto; (2) the number of each type of Licensed Product sold; (3) sublicense fees and royalties received during the most recently completed calendar quarter in US dollars, payable with respect thereto; (4) the method used to calculate the royalties; and (5) the exchange rates used. If no sales of Licensed Products has been made and no sublicense revenues has been received by LICENSEE during any reporting period, LICENSEE shall so report.

Royalty Reports. After the first commercial sale of a Licensed Product anywhere in the world, LICENSEE shall submit to UNIVERSITY Cornell 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: (1i) the gross sales, deductions as provided in Paragraph 1.11, and Net Sales during the most recently completed calendar quarter and the royalties, in US dollars, payable with respect thereto; (2ii) the number of each type of Licensed Product sold; (3iii) sublicense Sublicense fees and royalties received during the most recently completed calendar quarter in US dollars, payable with respect thereto; (4iv) the method used to calculate the royalties; and (5v) the exchange rates used. If no sales of Licensed Products has have been made and no sublicense revenues Sublicense revenue has been received by LICENSEE during any reporting period, LICENSEE shall so report.

Royalty Reports. After the first commercial sale of a Licensed Product anywhere in the world, LICENSEE shall submit to UNIVERSITY quarterly VTIP annual royalty reports on or before each February 28, May 31, August 31 and November 30 of each yearthe date that is sixty (60) days after the anniversary date thereof. Each royalty report shall cover LICENSEE's ’S (and each Affiliate's ’s and Sublicensee's’s) most recently completed calendar quarter year and shall show: (1) the gross sales, deductions as provided in Paragraph 1.111.7, and Net Sales during the most recently completed calendar quarter and the royalties, in US dollars, payable with respect thereto; (2) the number of each type of Licensed Product sold; (3) sublicense fees and royalties received during the most recently completed calendar quarter in US dollars, payable with respect thereto; (4) the method used to calculate the royalties; and (5) the exchange rates used. If no sales of Licensed Products has have been made and no sublicense revenues has have been received by LICENSEE during any reporting period, LICENSEE shall so report.

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 ’S (and each Affiliate's ’s and Sublicensee's’s) most recently completed calendar quarter and shall show: (1) the gross sales, deductions as provided in Paragraph 1.11paragraph 1.13, and Net Sales during the most recently completed calendar quarter and the royalties, in US dollars, payable with respect thereto; (2) the number of each type of Licensed Product sold; (3) sublicense fees and royalties received during the most recently completed calendar quarter in US dollars, dollars and the portion payable to UNIVERSITY with respect thereto; (4) the method used to calculate the royaltiesroyalties and sublicense fees and the portion payable to UNIVERSITY thereto; and (5) the exchange rates used. . (6) If no sales of Licensed Products has have been made and no sublicense revenues has have been received by LICENSEE during any reporting period, LICENSEE shall so report.

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: (1) the gross sales, deductions as provided in Paragraph 1.111.10, and Net Sales during the most recently completed calendar quarter and the royalties, in US dollars, payable with respect thereto; (2) the number of each type of Licensed Product sold; (3) sublicense fees and royalties received during the most recently completed calendar quarter in US dollars, payable with respect thereto; (4) the method used to calculate the royalties; and (5) the exchange rates used. If no sales of Licensed Products has have been made and no sublicense revenues has have been received by LICENSEE during any reporting period, LICENSEE shall so report.

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 ’s (and each Affiliate's ’s and Sublicensee's’s) most recently completed calendar quarter and shall show: (1) the gross sales, deductions as provided in Paragraph 1.111.10, and Net Sales during the most recently completed calendar quarter and the royalties, in US dollars, payable with respect thereto; (2) the number of each type of Licensed Product sold; (3) sublicense fees and royalties received during the most recently completed calendar quarter in US dollars, payable with respect thereto; (4) the method used to calculate the royalties; and (5) the exchange rates used. If no sales of Licensed Products has been made and no sublicense revenues has been received by LICENSEE during any reporting period, LICENSEE shall so report.

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 ’S (and each Affiliate's ’s and Sublicensee's’s) most recently completed calendar quarter and shall show: (1) the gross sales, deductions as provided in Paragraph 1.11, and Net Sales during the most recently completed calendar quarter and the royalties, in US dollars, payable with respect thereto; (2) the number of each type of Licensed Product sold; (3) sublicense fees and royalties received during the most recently completed calendar quarter in US dollars, payable with respect thereto; (4) the method used to calculate the royalties; and (5) the exchange rates used. If no sales of Licensed Products has been made and no sublicense revenues has been received by LICENSEE during any reporting period, LICENSEE shall so report.

Royalty Reports. After the date of 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 ’s (and each Affiliate's ’s and Sublicensee's’s) most recently completed calendar quarter and shall show: (1) the gross sales, deductions as provided in Paragraph 1.111.6, and Net Sales during the most recently completed calendar quarter and the royalties, in US dollars, payable with respect thereto;; and (2) the number quantities (in sale unit) and receipts of each type of Licensed Product sold;; and (3) sublicense fees and royalties received during the most recently completed calendar quarter in US dollars, payable with respect thereto;; and (4) the method used to calculate the royalties; , and (5) the exchange rates used. If no sales of Licensed Products has been made and LICENSEE has received no sublicense revenues has been received by LICENSEE during any reporting period, LICENSEE shall so report.

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 ’S (and each Affiliate's ’s and Sublicensee's’s) most recently completed calendar quarter and shall show: (1) the gross sales, deductions as provided in Paragraph 1.11, and Net Sales during the most recently completed calendar quarter and the royalties, in US dollars, payable with respect thereto; (2) the number of each type of Licensed Product sold; (3) sublicense fees and royalties received during the most recently completed calendar quarter in US dollars, payable with respect thereto; (4) the method used to calculate the royalties; and (5) the exchange rates used. If no sales of Licensed Products has been made and no sublicense revenues has been received by LICENSEE during any reporting period, LICENSEE shall so report.