Common use of Development Report Clause in Contracts

Development Report. For each Calendar Year after the Research Term and continuing until such time as Regulatory Approval of all Products under Development has been obtained in the Major Markets, BMS will provide to Ambrx (to the JRC or if the JRC is no longer constituted, to Ambrx’s Alliance Manager) annually within sixty (60) days after the end of such Calendar Year a written summary describing BMS’ activities with respect to the Development of Products for each Collaboration Target (the “Development Report”). The Development Report shall contain sufficient information to allow Ambrx to reasonably determine whether BMS is in compliance with its obligations to use Diligent Efforts to Develop Products as set forth in Section 4.1. Such reports shall be Confidential Information of BMS pursuant to Article 12. For clarity, Section 3.7 shall apply with respect to the sharing of the results of work performed by a Party as part of the Research Program.