Common use of Development and Commercialization Reports Clause in Contracts

Development and Commercialization Reports. Throughout the Term of this Agreement and on January 31st of each year, Company will deliver to ▇▇▇▇ ▇▇▇▇▇ written reports of Company’s and Sublicensees’ efforts and plans to develop and commercialize the innovations covered by the Licensed Rights and to make and sell Licensed Products. If requested by Company or ▇▇▇▇ ▇▇▇▇▇ prior to December 31 of any year and subsequently mutually agreed by both Parties, this report may be delivered as a live presentation, which presentation shall take place by January 31 and presentation materials will be delivered to ▇▇▇▇ ▇▇▇▇▇ within 30 days of such live presentation. Company will have no obligation to prepare commercialization reports in years where (a) Company delivers to ▇▇▇▇ ▇▇▇▇▇ a written royalty report with active sales (as defined in Paragraph 6.6), and (b) Company has fulfilled all Diligence Milestones (as defined in Paragraph 3.3). In relation to each of the Diligence Milestones, each commercialization report will include sufficient information to demonstrate fulfillment of or progress towards those Diligence Milestones and will set out timeframes and plans for those Diligence Milestones which have not yet been met.

Development and Commercialization Reports. Throughout the Term of this Agreement and on January 31st of each year, Company will deliver to ▇▇▇▇ ▇▇▇▇▇ written reports of Company’s and Sublicensees’ efforts and plans to develop and commercialize the innovations covered by the Licensed Rights and to make and sell Licensed Products. If requested by Company or ▇▇▇▇ ▇▇▇▇▇ prior to December 31 of any year and subsequently mutually agreed by both Parties, this report may be delivered as a live presentation, which presentation shall take place by January 31 and presentation materials will be delivered to ▇▇▇▇ ▇▇▇▇▇ within 30 days of such live presentation. Company will have no obligation to prepare commercialization reports in years where (a) Company delivers to ▇▇▇▇ ▇▇▇▇▇ a written royalty report with active sales (as defined in Paragraph 6.6), and (b) Company has fulfilled all Diligence Milestones (as defined in Paragraph 3.3). In relation to each of the Diligence Milestones, each commercialization report will include sufficient information to demonstrate fulfillment of or progress towards those Diligence Milestones and will set out timeframes time frames and plans for those Diligence Milestones which have not yet been met.