Royalty Report. During the term of this Agreement after the first sale to a Third Party of the first Licensed Product, ALGORX shall furnish or cause to be furnished to BRIDGE on a quarterly basis a written report or reports (the "Royalty Report") covering each calendar quarter (a "Royalty Period") showing (i) gross sales and Net Sales of all Licensed Products in each country of the Territory during the Royalty Period; and (ii) the royalties, payable in Dollars, which shall have accrued hereunder with respect to such Net Sales. Royalty Reports and any royalties owed BRIDGE shall be due sixty (60) days after the end of the Royalty Period to which they pertain. In the event that there are no royalties due in a Royalty Period, the Royalty Report shall so state.
Appears in 3 contracts
Sources: Collaboration, Development and License Agreement (Algorx Pharmaceuticals Inc), Collaboration, Development and License Agreement (Algorx Pharmaceuticals Inc), Collaboration, Development and License Agreement (Algorx Pharmaceuticals Inc)