Common use of Reporting and Forecasting Clause in Contracts

Reporting and Forecasting. a. Following the Effective Date, until Reimbursement status and HCPCS codes for the Licensed Product and the Lamp in the Territory are obtained, INC shall regularly and promptly report PHARMA in reasonable detail about the status of the filing and examination procedure. Such reports shall be rendered no less than once per Quarter Year. b. After the First Commercial Sale in the Territory, INC shall furnish PHARMA, following the end of each three (3) months period, with a report of INC’s sales of Licensed Product and Lamps under this Agreement and of the expectations for the coming twelve (12) months. Each such report shall (i) be furnished to PHARMA within [***] days after the close of the three (3) months period to which it corresponds; (ii) state INC’s total sales of the Licensed Product; (iii) specify the sales prices and placements of Lamps; (iv) place an order for the next six months; and (v) provide evidence in reasonable detail about the marketing and sales strategy and expenditures invested in the Product in the preceding Commercial Year. c. The Parties shall, each time following PHARMA’s receipt of INC’s aforementioned report and the forecasts for the Product and the Lamp discuss the respective report and agree on all relevant topics. d. In relation to the exploitation of the License, including the sale and offering for sale and other commercialization of the Licensed Products and the Lamps, INC will comply with all laws and regulations as applicable from time to time in the respective countries of the Territory. This shall particularly apply to the compliance with the rules and regulations relating to the commercialization of Licensed Products and Lamps and to any laws, which prohibit or limit the permissibility to provide, directly or indirectly, anything of value (including payment of money) to an official of a Regulatory Authority or other government body in order to obtain or retain business or favorable treatment and requires the maintenance of accurate books of account, with all company transactions being properly recorded.

Reporting and Forecasting. a. Following the Effective Date, until Reimbursement status and HCPCS codes for the Licensed Product and the Lamp in the Territory are obtained, INC shall regularly and promptly report PHARMA in reasonable detail about the status of the filing and examination procedure. Such reports shall be rendered no less than once per Quarter Year. b. After the First Commercial Sale in the Territory, INC shall furnish PHARMA, following the end of each three (3) months period, with a report of INC’s sales of Licensed Product and Lamps under this Agreement and of the expectations for the coming twelve (12) months. Each such report shall (i) be furnished to PHARMA within [***] thirty (30) days after the close of the three (3) months period to which it corresponds; (ii) state INC’s total sales of the Licensed Product; (iii) specify the sales prices and placements of Lamps; (iv) place an a binding order for the next six months; and (v) provide evidence in reasonable detail about the marketing and sales strategy and expenditures invested in the Product in the preceding Commercial Year. c. The Parties shall, each time following PHARMA’s receipt of INC’s aforementioned report and the forecasts for the Product and the Lamp discuss the respective report and agree on all relevant topics. d. In relation to the exploitation of the License, including the sale and offering for sale and other commercialization of the Licensed Products and the Lamps, INC will comply with all laws and regulations as applicable from time to time in the respective countries of the Territory. This shall particularly apply to the compliance with the rules and regulations relating to the commercialization of Licensed Products and Lamps and to any laws, which prohibit or limit the permissibility to provide, directly or indirectly, anything of value (including payment of money) to an official of a Regulatory Authority or other government body in order to obtain or retain business or favorable treatment and requires the maintenance of accurate books of account, with all company transactions being properly recorded.