Common use of Preliminary Reports Clause in Contracts

Preliminary Reports. Within [**] days after the end of each calendar quarter (commencing with the first calendar quarter after the First Commercial Sale of a Licensed Product), Pharmstandard shall provide to AVEO a preliminary written report, substantially in a form agreed by the Parties and outlined in Exhibit F to this Agreement, stating: (i) Actual gross sales and deductions in the Pharmstandard Territory for the first two (2) months of such calendar quarter, including: (A) a statement of the amount of gross sales of Licensed Products in the Pharmstandard Territory during such two (2) month period; (B) an itemized calculation of Net Sales (1) in the Pharmstandard Territory as a whole and (2) on a country-by-country basis, showing for both (1) and (2) deductions provided for in the definition of Net Sales during such two (2) month period; and (C) a calculation of the royalty payment due on such Net Sales for such two (2) month period; and (ii) Pharmstandard’s good faith estimate of gross sales and deductions in the Pharmstandard Territory for the last month of such calendar quarter, for financial reporting purposes.