Common use of After the Clause in Contracts

After the. First Commercial Sale of a Licensed Product anywhere in the world by Licensee or its sublicensees, Licensee will make semi-annual royalty reports to Rutgers/UMDNJ on or before each June 30 and December 31 of each year. Each such royalty report will cover Licensee's two most recently completed calendar quarters and will show the following: (a) the gross sales and Net Sales of each type of Licensed Product and a clear indication of how Net Sales and other consideration due to Rutgers/UMDNJ hereunder were calculated; (b) the royalties and other consideration, in U.S. dollars, payable hereunder; (c) the exchange rate used, if any; and (d) any other information reasonably requested by Rutgers/UMDNJ in support or explanation thereof.