Common use of Royalty Statements Clause in Contracts

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.

Appears in 3 contracts

Samples: Exclusive License Agreement (Intellect Neurosciences, Inc.), Exclusive License Agreement (Intellect Neurosciences, Inc.), Exclusive License Agreement (Viropharma Inc)

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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 minimum (a) Invoiced Sales and Net Sales, (b) the number of units of each Licensed Product sold in such on a country-by-country basis during such the applicable Calendar YearQuarter, (c) a detailed breakdown of any deductions from the Invoiced Sales that were taken to obtain calculate Net Sales, and (d) the amount of royalties due on such Net Sales.

Appears in 2 contracts

Samples: Co Development and License Agreement (GPC Biotech Ag), Co Development and License Agreement (Pharmion Corp)

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