Common use of Sales Reporting Clause in Contracts

Sales Reporting. BMI will oblige any party marketing Licensed Product in the Territory to deliver to BII periodic financial reports. These reports will be consistent with generally accepted accounting principles and in a format consistent with BII’s internal accounting policies. The reports will be delivered to BII within sixty (60) days after the close of each calendar quarter and will show separately for each Licensed Product: (a) gross sales, categorised by units sold and by total revenue; (b) Net Sales, detailing the deductions allowed under Section 1.8; (c) details of the quantities sold in each country; (d) royalties or other like compensation due pursuant to the Agreement; and (e) the respective Floor Price already paid for the [*] bought from BII or its Affiliates. BII agrees to make available sufficient information regarding its internal accounting policies to facilitate preparation of the required reports.

Sales Reporting. BMI will oblige any party marketing Licensed Product in the Territory to deliver to BII periodic financial reports. These reports will be consistent with generally accepted accounting principles and in a format consistent with BII’s 's internal accounting policies. The reports will be delivered to BII within sixty (60) days after the close of each calendar quarter and will show separately for each Licensed Product: (a) gross sales, categorised by units sold and by total revenue; (b) Net Sales, detailing the deductions allowed under Section 1.8; (c) details of the quantities sold in each country; (d) royalties or other like compensation due pursuant to the Agreement; and (e) the respective Floor Price already paid for the [*] bought from BII or its Affiliates. BII agrees to make available sufficient information regarding its internal accounting policies to facilitate preparation of the required reports.