Running Royalty Reports Clause Samples
The "Running Royalty Reports" clause requires a party, typically a licensee, to regularly provide detailed statements of royalties owed to the licensor. These reports usually include information such as sales figures, units sold, and the calculation of royalties due for a specific period, often quarterly or annually. By mandating the submission of these reports, the clause ensures transparency and accountability in royalty payments, helping both parties monitor compliance and resolve discrepancies efficiently.
Running Royalty Reports. With the running royalty payments as specified in Section 3.3, a written report setting forth, in commercially reasonable detail, Net Sales by AlgoRx and Net Sales by sublicensees of AlgoRx, showing in each case the royalty calculation in respect of such sublicenses, and including therewith commercially reasonable documentary support for the calculation of such running royalty payments for AlgoRx and such sublicensees.
Running Royalty Reports. COMPANY shall report to M.I.T. the date of FIRST COMMERCIAL SALE of a LICENSED PRODUCT or LICENSED PROCESS in each country within [***] days of such occurrence. After the FIRST COMMERCIAL SALE of a LICENSED PRODUCT or LICENSED PROCESS in any country, COMPANY shall deliver running royalty reports to M.I.T. within [***] days of the end of each REPORTING PERIOD, containing information concerning the immediately preceding REPORTING PERIOD. Each report delivered by COMPANY to M.I.T. shall contain at least the following information for the immediately preceding REPORTING PERIOD:
(i) the number of LICENSED PRODUCTS sold, leased or distributed by COMPANY, its AFFILIATES and SUBLICENSEES to independent third parties in each country, and, if applicable, the number of LICENSED PRODUCTS and LICENSED PROCESSES used by COMPANY, its AFFILIATES and SUBLICENSEES in the provision of services in each country;
(ii) if applicable, a description of LICENSED PROCESSES performed by COMPANY, its AFFILIATES and SUBLICENSEES in each country as may be pertinent to a royalty accounting hereunder;
(iii) the gross price per unit charged by COMPANY, its AFFILIATES and SUBLICENSEES for each LICENSED PRODUCT and, if applicable, the gross price charged for each LICENSED PRODUCT used to provide services in each country; and the gross price charged for each LICENSED PROCESS performed by COMPANY, its AFFILIATES and SUBLICENSEES in each country;
(iv) calculation of NET SALES for the applicable REPORTING PERIOD in each country, including a listing of applicable deductions; and
(v) total royalty payable on NET SALES in U.S. dollars, together with the exchange rates used for conversion. If no amounts are due to M.I.T. for any REPORTING PERIOD, the report shall so state.
Running Royalty Reports. [********], its Affiliates and Sublicensees, if any, during such calendar quarter as are pertinent to account for Running Royalties due under Section 3.1 of this Agreement. Such report shall include at least (i) [********], (ii) [********], and (iii) [********]. SOUTHERN shall not provide to third parties any information contained in reports provided by DAS under this Section 3.3.
Running Royalty Reports. With each quarterly Running Royalty payment due to Southern under Section 3.1, DAS shall deliver to Southern a true and accurate report, giving such particulars of the business conducted by DAS, its Affiliates and Sublicensees, if any, during such calendar quarter as are pertinent to account for Running Royalties due under Section 3.1 of this Agreement. Such report shall include at least (i) the total of Net Sales during such quarter, (ii) the calculation of Running Royalties, and (iii) the total Running Royalties so calculated and due Southern. If no royalties are due, DAS shall so report. Southern shall not provide to third parties any information contained in reports provided by DAS under this Section 3.3.