Common use of Quarterly Earned Royalty Payment and Report Clause in Contracts

Quarterly Earned Royalty Payment and Report. Beginning with the first sale of a Licensed Product by ***** or a sublicensee or a first Sublicense, whichever is first, ***** will submit to Stanford a written report (even if there are no sales or Sublicenses) and an earned royalty payment and a Nonroyalty Sublicensing Consideration payment within 30 days after the end of each calendar quarter. This report will be in the form of Appendix B and will state the number, description, and aggregate Net Sales of Licensed Product during the completed calendar quarter and details about any Sublicenses. The report will include an overview of the process and documents relied upon to permit Stanford to understand how the earned royalties and Nonroyalty Sublicensing Consideration are calculated. With each report ***** will include any earned royalty payment and Nonroyalty Sublicensing Consideration payment due Stanford for the completed calendar quarter (as calculated under Section 7.8 and Section 4.6).

Quarterly Earned Royalty Payment and Report. Beginning with the first sale of a Licensed Product by ***** or a sublicensee or a first Sublicense, whichever is first, ***** will submit to Stanford a written report (even if there are no sales or Sublicenses) and an earned royalty payment and a Nonroyalty Sublicensing Consideration payment within 30 days after the end of each calendar quarter. This report will be in the form of Appendix B and will state the number, description, and aggregate Net Sales of Licensed Product during the completed calendar quarter and details about any Sublicenses. The report will include an overview of the process and documents relied upon to permit Stanford to understand how the earned royalties and Nonroyalty Sublicensing Consideration are calculated. With each report ***** will include any earned royalty payment and Nonroyalty Sublicensing Consideration payment due Stanford for the completed calendar quarter (as calculated under Section 7.8 7.6 and Section 4.6).

Quarterly Earned Royalty Payment and Report. Beginning with the first sale of a Licensed Product by ***** Surrozen or a sublicensee or a first Sublicense, whichever is first, ***** Surrozen will submit to Stanford a written report (even if there are no sales or Sublicenses) and an earned royalty payment and a Nonroyalty Sublicensing Consideration Sublicense Fee payment within 30 days [****] after the end of each calendar quarter. This report will be in the form of Appendix B and will state the number, description, and aggregate Net Sales of Licensed Product during the completed calendar quarter and details about any Sublicenses. The report will include an overview of the process and documents relied upon to permit Stanford to understand how the earned royalties and Nonroyalty Sublicensing Consideration are calculated. With each report ***** Surrozen will include any earned royalty payment and Nonroyalty Sublicensing Consideration Sublicense Fee payment due Stanford for the completed calendar quarter (as calculated under Section 7.8 7.6 and Section 4.6).