Common use of Payments; Reports Clause in Contracts

Payments; Reports. Royalty payments and reports for the sale of VIDAS Products shall be calculated and reported for each Calendar Quarter by each of BMX and its Affiliates. All royalty payments due to a Party under this Agreement shall be paid within sixty (60) days of the end of each Calendar Quarter, unless otherwise specifically provided herein. Each payment of royalties shall be accompanied by a report of Net Sales of VIDAS Products, on a country-by-country basis, showing for each country the breakdown among BMX and its Affiliates, in sufficient detail to permit confirmation of the accuracy of the royalty payment made, including, without limitation, the number of VIDAS Products sold, the gross sales and Net Sales of VIDAS Products, the amount of each category of deduction from Net Sales specified in the definition thereof in Article 1, the royalties, in U.S. dollars, payable, the method used to calculate the royalty and the exchange rates used. The report provided pursuant to this paragraph shall be treated as Confidential Information under this Agreement and shall only be used or made available to GP employees for purposes of verifying that proper Royalty payments have been made by BMX.

Payments; Reports. Royalty payments and reports for the sale of VIDAS ANAIS Products shall be calculated and reported for each Calendar Quarter by each of BMX and its Affiliates. All royalty payments due to a Party under this Agreement shall be paid within sixty (60) days of the end of each Calendar Quarter, unless otherwise specifically provided herein. Each payment of royalties shall be accompanied by a report of Net Sales of VIDAS ANAIS Products, on a country-by-country basis, showing for each country the breakdown among BMX and its Affiliates, in sufficient detail to permit confirmation of the accuracy of the royalty payment made, including, without limitation, the number of VIDAS ANAIS Products sold, the gross sales and Net Sales of VIDAS ANAIS Products, the amount of each category of deduction from Net Sales specified in the definition thereof in Article 1, the royalties, in U.S. dollars, payable, the method used to calculate the royalty and the exchange rates used. The report provided pursuant to this paragraph shall be treated as Confidential Information under this Agreement and shall only be used or made available to GP employees for purposes of verifying that proper Royalty payments have been made by BMX.