Common use of Ongoing Reporting Clause in Contracts

Ongoing Reporting. a) Each Party will notify the other Party within 72 hours of its receipt from a governmental authority of any form or notice specifically addressing the Product or matters affecting a Party’s obligations under this Agreement. b) To the extent the Purchaser is required by applicable law to correspond with any regulatory authorities regarding the manufacture of the Product, the Purchaser will permit the Supplier to review and comment on, and the Purchaser will consider (in its sole discretion) any such comments in good faith, any correspondence or proposed correspondence with any regulatory authority at least five (5) business days prior to submitting such correspondence to any regulatory authority to the extent the Purchaser is permitted to do so by the regulatory authorities and the timeframe for a response as designated by the regulatory authority is sufficient to allow the Purchaser to do so. c) As applicable, each Party agrees to maintain any records required by any governmental authority and will promptly provide to the other Party complete copies of: i) all material correspondence, notices or responses received from and to the governmental authority relating to the Product and their production, marketing, distribution and sale; ii) reports and correspondence relating to the Product and their production as they become available in connection with any of the following events: A. receipt of a warning letter or similar advisory from any governmental authority relating to the production, packaging and storage of the Product; and B. any comments from a governmental authority relating to the production of the Product requiring a response or action by the notifying party.