Payment Dates and Reports. Royalty payments shall be made by Licensee within [***] after (which period may be extended to [***] if necessary for Licensee to obtain and incorporate sales reports from Sublicensees) the end of each Calendar Quarter commencing with the Calendar Quarter in which the first day of the first Royalty Term for the first Licensed Product occurs. Licensee shall also provide to Sanofi, at the same time each such payment is made, a report showing: (a) the Net Sales of the Licensed Products by country in the Territory; (b) the basis for any deductions from Invoiced Sales to determine Net Sales; (c) the applicable royalty rates for the Licensed Products; (d) the exchange rates used in calculating any of the foregoing; and (e) a calculation of the amount of royalty due to Sanofi. Each report delivered by Licensee pursuant to this Section 6.4.5 shall be the Confidential Information of Licensee.
Appears in 3 contracts
Sources: License Agreement (Sionna Therapeutics, Inc.), License Agreement (Sionna Therapeutics, Inc.), License Agreement (Sionna Therapeutics, Inc.)