Royalty Statements. The Licensees shall provide Shengqu with a statement within ten (10) Business Days of the end of each calendar month during the Term of this Agreement.
Royalty Statements. Due on the same day as the NSR payment, Lessee shall provide Lessor with a Royalty Statement which details the amount of ores, minerals, or other products sold or processed and a detailed compilation of the payment due. Examination and/or audit. Lessor may require an independent audit by a CPA or accounting firm that is acceptable to both parties of the Royalty Statement and all records related to concentrate or product sales. If the audit discloses a substantial discrepancy(ies), defined as discrepancy(ies) resulting in an underpayment to the Lessor of five percent (5%) or more of the NSR due or an ongoing history of significant underpayment to the Lessor, the cost of the audit shall be paid by the Lessee. If the audit fails to disclose a substantial discrepancy(ies), the cost of the audit shall be paid by the Lessor. The Lessee shall keep appropriate records detailing the amount, source, and assay of ores, minerals, or other products recovered, processed, sold, or shipped and the amount and source of payment received.
Royalty Statements. On a quarterly basis, on the last day of the month immediately following the close of each quarter in each Contract Year, Licensee shall provide to Licensor a royalty statement certified as true and accurate by an officer of Licensee separately setting forth the aggregate Gross Sales, merchandise returns, credits, trade allowances and net sales (relevant to each account) of all sales of Licensed Products by Licensee for the quarter covered by such statement, together with a computation of Net Sales and computation of the amounts due Licensor in respect thereof. The statement for the final quarter of each Contract Year also shall include a calculation of total Net Sales (separately setting forth the amount deducted therefrom in respect of each of the items (a) through (c) listed in the definition of Net Sales) and the Percentage Royalty for the preceding Contract Year. Licensor’s acceptance of any statement or payment shall be without prejudice to Licensor’s right to dispute the accuracy thereof, and Licensee shall remain fully liable for any balance due under this Agreement. For the avoidance of doubt, under no circumstances shall Licensee be required to pay royalties with respect to any Contract Year in excess of the Percentage Royalty for such Contract Year, but the Percentage Royalty payments made with respect to one Contract Year shall not entitle Licensee to any set-off or deduction in any other Contract Year.
Royalty Statements. Each royalty payment hereunder shall be accompanied by a statement in sufficient detail to allow for the calculation of royalties due hereunder, including by showing, on a country-by-country basis, at a minimum, for the applicable Calendar Year (a) Invoiced Sales and Net Sales, (b) the number of units of each Licensed Product sold in such country during such Calendar Year, (c) a detailed breakdown of any deductions from the Invoiced Sales to obtain Net Sales, and (d) the amount of royalties due on such Net Sales.
Royalty Statements. Royalty payments will be accompanied by a statement showing in reasonable detail on a Product by Product basis for the relevant quarter:
(a) the quantities and grades of Products produced and for which there was a Sale in the quarter;
(b) the actual proceeds of Sale received in the quarter;
(c) the Allowable Deductions in the quarter; and
(d) other pertinent information in sufficient detail to explain the calculation of the Royalty payment.
Royalty Statements. Celldex shall deliver to Medarex within forty-five (45) days after the end of each Calendar Quarter in which Royalty-Bearing Products, for which Celldex owes a royalty hereunder, are sold, a detailed statement showing (a) Net Sales of each such Royalty-Bearing Product on a country-by-country basis during the applicable Calendar Quarter, and (b) the amount and calculation of royalties due on such Net Sales.
Royalty Statements. Each royalty payment shall be accompanied by a statement from Xxxxxx showing Xxxxxx Net Sales for the Product in the International Territory, by country. The royalty shall be computed in United States Dollars pursuant to Xxxxxx'x standard internal accounting practices and policies.
Royalty Statements. Supernus shall deliver to Afecta, within sixty (60) days after the end of each calendar quarter, a statement setting forth the Net Sales of Afecta Licensed Products during such calendar quarter (including the country of manufacture and an itemized calculation of the amount of Net Sales in the United States, its territories and possessions) and the royalties due hereunder. Each such statement shall be accompanied by a remittance of the royalties in United States Dollars due for such calendar quarter.
Royalty Statements. Supernus shall deliver to RH, within sixty (60) days after the end of each calendar quarter, a statement setting forth the Net Sales of the Supernus Product during such calendar quarter (including the country of sale and an itemized calculation of the amount of Net Sales) and the royalties due hereunder. Each such statement shall be accompanied by a remittance of the royalties in United States Dollars due for such calendar quarter.
Royalty Statements. At the same time as each royalty payment is due under Clauses 3.4 to 3.6 (inclusive), Nuvectis shall send to University a statement (the template for which will be provided by the University in due course) setting out, in respect of the Quarter to which the royalty payment relates and in respect of each country in the Territory in which Licensed Products and/or Additional Licensed Products are sold, disposed of and/or supplied:
(a) the amount of each type of Licensed Product and/or Additional Licensed Products sold, disposed of and/or supplied by Nuvectis, its Affiliates and/or Sub-Licensees in each country in the Territory during that Quarter and, if none, a statement to that effect;
(b) the amount of Licensed Products and/or Additional Licensed Products produced during the previous Quarter but not yet supplied, and, if none, a statement to that effect;
(c) the Net Sales in respect of each such type of Licensed Product and/or Additional Licensed Products sold, disposed of and/or supplied in each country in the Territory during that Quarter;
(d) the aggregate Net Sales in respect of that Quarter for Licensed Product and/or Additional Licensed Product;
(e) list of any sub-licences granted and, if none, a statement to that effect;
(f) details of all Sub-Licensee Revenues both due to, and received by, Nuvectis and/or its Affiliates during the previous Quarter and, if none, statement to that effect;
(g) the sums due and payable under Clause 3 and, if none, a statement to that effect;
(h) subject to Clause 4.2.2, any currency conversions, showing the rates used;
(i) the amount of royalties due to University in respect of that Quarter;
(j) the type and amount of any permitted deductions made by the Company from the sums referred to in Clause 3 (by type of Licensed Product and/or Additional Licensed Product and country); and
(k) together with sufficient information to enable University to ascertain whether any Milestone Payments have become due or if any specific diligence conditions have occurred pursuant to Clause 5.2, expressed both in local currency and US Dollars and showing the conversion rates used, during the Quarter to which the royalty payment relates.
