Responsibility and Reporting Clause Samples
The Responsibility and Reporting clause defines the obligations of parties to perform certain duties and to provide regular updates or reports regarding their activities under the agreement. Typically, this clause outlines who is responsible for specific tasks, the frequency and format of required reports, and the standards for documenting progress or issues. Its core function is to ensure accountability and transparency between parties, helping to monitor compliance and address problems promptly.
Responsibility and Reporting. Unless otherwise provided in the Contract Documents, the Contractor shall have no responsibility for the presence, handling, removal or disposal of hazardous materials in any form at the Project site, including but not limited to asbestos, asbestos products, polychlorinated biphenyl (PCB), lead, or other hazardous materials. Prior to its commencement or continuation of any portion of the Work, the Contractor shall provide notice to the Owner of the presence, location, amount and condition of any known or suspected hazardous materials that are discovered at the Project site. Such notice shall be in writing and shall be submitted no more than twenty-four (24) hours after the presence of such materials becomes known or suspected.
Responsibility and Reporting. As between the Parties, Purchaser shall have the sole right and responsibility, at its sole cost and expense, to exercise Commercially Reasonable Efforts to research, register, manufacture, develop, and commercialize the Purchased Assets, including without limitation to Exploit the Acquired Compound or the Products after the Effective Date. On or prior to the [***], Purchaser shall provide to Seller an annual written report pertaining to the Acquired Compounds and the Products [***].