Common use of Annual Progress Reports Clause in Contracts

Annual Progress Reports. By the due dates specified in the Milestone Schedule, the Recipient must submit to the Department: an Annual Progress Report for the preceding calendar year, substantially in the form of the template provided by the Department (if any); and the Recipient's Financial Report required under Item 5.5 for the preceding calendar year. The Annual Progress Report must include but need not be limited to, the following Activity performance information: a description of actual performance against the Milestones; a detailed description of work undertaken during the 12 months of the preceding calendar year; details of progress against the Research Plan for the preceding calendar year, including monitoring, evaluation and reporting activities specified in the Research Plan; details of Funds spent against the Activity Budget for the preceding calendar year and any proposed carry over of funds; details of progress against any Emerging Priority Plan approved by the Department in the preceding calendar year and details of Emerging Priority Funds spent; and a discussion and statement as to whether the timeframes and Milestones for the Activity are being met and an explanation of any delays that have occurred, including the reasons for those delays and the action the Recipient proposes to take to address the delay and the expected effects (if any) the delay will have on the Activity (including subsequent Milestones and the overall completion of the Activity). The Annual Progress Report must be provided in final draft form to, and endorsed by, the Hub Steering Committee. Unless the Recipient is otherwise notified by the Department, the Department will reject or accept the Annual Progress Report within 40 Business Days of submission by the Recipient under clause 5.3(a). Where the Annual Progress Report is rejected, the Recipient must continue to submit an Annual Progress Report, including any necessary amendments until the Department approves the Annual Progress Report. A publicly available version of the accepted Annual Progress Report must be made available on the Hub website following acceptance by the Department.

Annual Progress Reports. By the due dates specified in the Milestone Schedule, the Recipient must submit to the Department: Samaritan shall provide Georgetown annual written progress reports (an "Annual Progress Report Report"), every September 30th commencing with September 30, 200__ [ENTER YEAR SO THAT FIRST REPORT IS NOT DUE FOR AT LEAST ONE YEAR AFTER THE LICENSE IS GRANTED], detailing the status of any manufacturing, sublicensing, marketing and sales during the previous twelve (12) months as well as Samaritan's plans for the preceding calendar year, substantially in the form of the template provided by the Department (if any); and the Recipient's Financial Report required under Item 5.5 for the preceding calendar coming year. The Annual Progress Report must include but need not be limited to, the following Activity performance information: a description of actual performance against the Milestones; a detailed description of work undertaken during the 12 months of the preceding calendar year; details of progress against the Research Plan for the preceding calendar year, including monitoring, evaluation and reporting activities specified in the Research Plan; details of Funds spent against the Activity Budget for the preceding calendar year and any proposed carry over of funds; details of progress against any Emerging Priority Plan approved by the Department in the preceding calendar year and details of Emerging Priority Funds spent; and a discussion and statement as to whether the timeframes and Milestones for the Activity are being met and an explanation of any delays that have occurred, including the reasons for those delays and the action the Recipient proposes to take to address the delay and the expected effects [INCLUDE THIS SECTION 5.2 FOR ANY LICENSE RELATED TO GEORGETOWN PATENT RIGHTS. EXCLUDE THIS SECTION 5.2 FOR ANY LICENSE RELATED TO JOINTLY OWNED PATENT RIGHTS] [5.2 Georgetown's Pull-Back Rights. If within sixty (if any60) the delay will have on the Activity (including subsequent Milestones and the overall completion of the Activity). The Annual Progress Report must be provided in final draft form to, and endorsed by, the Hub Steering Committee. Unless the Recipient is otherwise notified by the Department, the Department will reject or accept the Annual Progress Report within 40 Business Days of submission by the Recipient under clause 5.3(a). Where the Annual Progress Report is rejected, the Recipient must continue to submit days after Georgetown reviews an Annual Progress Report, including any necessary amendments until the Department approves the Annual Progress Report. A publicly available version Georgetown believes Samaritan is not making reasonable efforts to commercialize an application of the accepted Annual Progress Report must Licensed Technology, Georgetown shall, by written notice to Samaritan, expressly identify in reasonable detail a particular and specific application and/or indication in respect of the Licensed Technology as potentially subject to Georgetown's pull-back rights under this Section 5.2. Georgetown's pull back rights under this Section 5.2 inlcudings its right to give notice hereunder shall apply only to a particular and specific application and/or indication in respect of the Licensed Technology and for which all pre-clinical work has been completed and which is otherwise fully ready for IND submission in all reasonable respects. Upon such notice, Samaritan shall have three (3) years (from the date of the Georgetown notice) to file with the FDA for Investigational New Drug ("IND") approval with respect to such application and/or indication. In the event that Samaritan fails to file for IND approval within such three (3) year period, or upon Samaritan's written notice to Georgetown of Samaritan's election not to pursue IND approval, the identified application and/or indication shall be made available on excluded from the Hub website following acceptance by Field of Use in respect of the Departmentlicenses granted to Samaritan under this Agreement (hereinafter referred to as "Excluded Application/Indication"). Thereafter, Georgetown shall have the right to grant a license to any independent third party for the Excluded Application/Indication, subject to Samaritan's right of first refusal in respect of any such license within thirty (30) days of Samaritan's receipt of a copy of all of the applicable information and proposed documentation in respect of such proposed license. If Samaritan exercised it right of first hereunder, Georgetown shall not be permitted to enter into a license with such third party for the Excluded Indication, but Georgetown shall be obligated to promptly enter into such license with Samaritan.]

Annual Progress Reports. (a) By the due dates specified in the Milestone Schedule, the Recipient must submit to the Department: : (i) an Annual Progress Report for the preceding calendar year, substantially in the form of the template provided by the Department (if any); and and (ii) the Recipient's Financial Report required under Item 5.5 for the preceding calendar year. . (b) The Annual Progress Report must include but need not be limited to, the following Activity performance information: : (i) a description of actual performance against the Milestones; ; (ii) a detailed description of work undertaken during the 12 months of the preceding calendar year; ; (iii) details of progress against the Research Plan for the preceding calendar year, including monitoring, evaluation and reporting activities specified in the Research Plan; ; (iv) details of Funds spent against the Activity Budget for the preceding calendar year and any proposed carry over of funds; ; (v) details of progress against any Emerging Priority Plan approved by the Department in the preceding calendar year and details of Emerging Priority Funds spent; and and (vi) a discussion and statement as to whether the timeframes and Milestones for the Activity are being met and an explanation of any delays that have occurred, including the reasons for those delays and the action the Recipient proposes to take to address the delay and the expected effects (if any) the delay will have on the Activity (including subsequent Milestones and the overall completion of the Activity). . (c) The Annual Progress Report must be provided in final draft form to, and endorsed by, the Hub Steering Committee. . (d) Unless the Recipient is otherwise notified by the Department, the Department will reject or accept the Annual Progress Report within 40 Business Days of submission by the Recipient under clause 5.3(a). Where the Annual Progress Report is rejected, the Recipient must continue to submit an Annual Progress Report, including any necessary amendments until the Department approves the Annual Progress Report. . (e) A publicly available version of the accepted Annual Progress Report must be made available on the Hub website following acceptance by the Department.