Royalty Report. After the First Commercial Sale of a Licensed Product, Avro shall prepare a report (the “Royalty Report”) at the end of each Quarterly Period, setting out the Gross Revenue, the Net Revenue (including an itemized statement of any permitted discounts, refunds and taxes deducted), the Sublicensing Revenue, and the number of Licensed Products sold, along with calculations of any Royalties and Sublicensing Fee that are payable to UHN. Royalty Reports shall be due within [***] of the end of the relevant Quarterly Period. If no payments are due for any Quarterly Period, then the Royalty Report shall so state.
Appears in 3 contracts
Sources: Exclusive License Agreement, Exclusive License Agreement (AVROBIO, Inc.), Exclusive License Agreement (AVROBIO, Inc.)