PAYMENTS, REPORTS AND AUDITS. Article 5.9 of the Licence Agreement is hereby incorporated by reference herein as if restated in its entirety herein.
PAYMENTS, REPORTS AND AUDITS. 5.1. If Licensee fails to make any payment required under this Agreement on or before the due date, Licensee agrees to pay interest on such amount at an annual rate of two (2%) more than the greatest prime rate announced by Citibank NA or its successor as published in the Wall Street Journal at any time during the period when such payment is due. Such interest shall accrue from the date the payment was due until the date such payment is paid in full. If such rate exceeds the rate allowed by applicable law, then the highest rate allowed by law shall apply.
PAYMENTS, REPORTS AND AUDITS. 11.1 LIGAND shall keep true and accurate records of gross sales of the PRODUCT, the items deducted from the gross amount in calculating the NSP, the NSP and the royalties payable to ELAN under Clause 10. LIGAND shall deliver to ELAN a written statement ("the STATEMENT") thereof within 45 days following the end of each calendar quarter, (or any part thereof in the first or last calendar quarter of this Agreement) for such calendar quarter. The STATEMENT shall outline on a country-by-country basis, the calculation of the NSP from gross revenues during that calendar quarter, the applicable percentage rate, and a computation of the sums due to ELAN (i.e. the price of the PRODUCT determined in accordance with Clause 10.3.1 less [**********]). The parties' financial officers shall agree upon the precise format of the STATEMENT.
PAYMENTS, REPORTS AND AUDITS. 9.1. In accordance with its ordinary business practice, Par shall keep true and accurate records of gross sales of the Product, the items deducted from the gross amount in calculating the NSP, the NSP and the royalties payable to Elan under Clause 8. Par shall deliver to Elan a written statement ("the Statement") thereof within 28 days following the end of each calendar quarter, (or any part thereof in the first or last calendar quarter of this Agreement) for such calendar quarter. The Statement shall outline the calculation of the NSP from gross revenues during that calendar quarter, the applicable percentage rate, the units of Product sold, marketing, selling and distribution expenses allocated to the Product and a computation of the sums due to Elan. The Parties' financial officers shall agree upon the precise format of the Statement.
PAYMENTS, REPORTS AND AUDITS. The following terms and conditions shall apply to Royalty Payments under this Agreement:
PAYMENTS, REPORTS AND AUDITS. 9.1 With reference to Clause 5.3, Zealand and/or Betacure shall keep true and accurate records of Net Revenues and Net Sales and any deductibles made in calculating same. Where Zealand and/or Betacure has Net Revenues and/or Net Sales, Zealand and/or Betacure shall deliver to Shiprock Holdings a written statement (the “Statement”) thereof within 45 days following the end of each calendar quarter (or any part thereof). The financial officers of Shiprock Holdings and Zealand and/or Betacure shall agree upon the precise format of the Statement.
PAYMENTS, REPORTS AND AUDITS. 1. COMPANY shall keep true and accurate records of gross sales of the PRODUCT by COMPANY, its AFFILIATES or permitted sub-licensees, the items deducted from the gross amount in calculating the NSP, the NSP and the royalties payable to ELAN under Article V hereof. COMPANY shall deliver to ELAN a written statement thereof within sixty (60) days following the end of each calendar quarter (or any part thereof in the first or last calendar quarter of this Agreement) for such calendar quarter. The said written statements shall set forth on a country-by-country basis, the calculation of the NSP from gross revenues during that calendar quarter, the applicable percentage rate, and a computation of the sums due to ELAN (“the Statement”). The parties’ financial officers shall agree upon the precise format of the Statement.
PAYMENTS, REPORTS AND AUDITS. 8.1 GEMINI shall keep true and accurate records of gross sales of each of the PRODUCTS, the items deducted from the gross amount in calculating the NET SALES PRICE and the NET INCOME, the NET SALES PRICE and the royalties payable to ELAN under Clause 7. GEMINI shall deliver to ELAN a written statement ("the STATEMENT") thereof within 45 days following the end of each calendar quarter, (or any part thereof in the first or last calendar quarter of this Agreement) for such calendar quarter. The STATEMENT shall outline, on a country-by-country basis, the calculation of the NET SALES PRICE and the NET INCOME from gross revenues during that calendar quarter, the applicable percentage rate, and a computation of the sums due to ELAN. The Parties' financial officers shall agree upon the precise format of the STATEMENT.
PAYMENTS, REPORTS AND AUDITS. 11.1 In accordance with its ordinary business practice, SCHEIN shall keep true and accurate records of gross sales of each PRODUCT, the items deducted from the gross amount in calculating the NSP, the NSP and the royalties payable to ELAN under Clause 10. SCHEIN shall deliver to ELAN a written statement ("the STATEMENT") thereof within 28 days following the end of each calendar quarter, (or any part thereof in the first or last calendar quarter of this Agreement) for such calendar quarter. The STATEMENT shall outline the calculation of the NSP from gross revenues during that calendar quarter, the applicable percentage rate, the units of PRODUCTS sold, marketing, selling and distribution expenses allocated to the PRODUCT and a computation of the sums due to
PAYMENTS, REPORTS AND AUDITS. 13.1 With reference to Clause 4, IMCOR and/or an Affiliate of IMCOR shall keep true and accurate records of Net Sales and/or Net Revenues. Where IMCOR and/or an Affiliate of IMCOR has Net Sales and/or Net Revenues, IMCOR and/or an Affiliate of IMCOR (as the case may be) shall deliver to Elan a written statement (the “Statement”) thereof within 45 days following the end of each calendar quarter (or any part thereof). The financial officers of Elan and IMCOR shall agree upon the precise format of the Statement.
