Royalty Reporting Clause Samples
The Royalty Reporting clause requires a party, typically a licensee, to provide regular and detailed reports on royalties owed or paid under an agreement. These reports usually include information such as sales figures, revenue generated from licensed products, and calculations of royalties due for a specific period. By mandating transparent and timely reporting, this clause ensures accurate royalty payments and allows the licensor to monitor compliance, thereby reducing the risk of underpayment or disputes.
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Royalty Reporting. 4.1. Incuron shall notify CBLI of the date on which Incuron, or any Sublicensee makes the first sale of a Royalty-bearing Product in each country in which it occurs within thirty (30) days of first becoming aware of such sale.
4.2. Incuron shall notify CBLI on the date on which Incuron or its Affiliates enter into a definitive agreement (a) for the license or sublicense of any of the Patent Rights, Curaxin Technology or Royalty-bearing Products, or (b) which will lead to a Change of Control of Incuron and provide to CBLI on such date with a copy of such license, sublicense or Change of Control agreement or an abstract therefrom relating to the consideration due in case of Incuron is restricted by confidentiality from sending the full document and CBLI agrees to be bound by whatever confidentiality constraints are required of Incuron with regard to the documents.
4.3. Following the date of first sale of a Royalty-bearing Product and during the Royalty Term, Incuron shall submit to CBLI within forty-five (45) days after each of March 31, June 30, September 30 and December 31, a royalty report setting forth for such calendar quarter at least the following information:
(a) the number of Royalty-bearing Products sold by Incuron, its Affiliates or Sublicensees in each country;
(b) total revenues for such Royalty-bearing Products received by Incuron or its Affiliates and total revenues for such Royalty-bearing Products reported to be received by a Sublicensee, if applicable, as well as information regarding Incuron’s, or its Affiliates, date of the receipt and currency of payment with regard to any and all receipts used in calculating Net Sales;
(c) the amount of Net Sales of Royalty-bearing Products;
(d) itemized deductions taken to gross sales to determine the amount of Net Sales pursuant to Section 1.7; and
(e) the amount of royalties due, or, if no royalties are due to CBLI for any reporting period, the statement that no royalties are due.
4.4. Incuron shall pay to CBLI within ten (10) Business Days after delivery of each such royalty report the amount of royalties with respect to such calendar quarter.
4.5. All payments due hereunder are payable by wire transfer in United States dollars. For Net Sales receipts in currencies other than the United States dollar, Incuron shall use exchange rates published in The Wall Street Journal on the date of receipt of Net Sales receipts. For payments related to a Change of Control transaction in a currency other than the ...
Royalty Reporting. For each quarter, Licensee shall deliver to UGARF a written report in the form provided at Exhibit B providing all applicable sales, royalty, and other information as set out on Exhibit B (each, a “Royalty Report”). Licensee shall deliver Royalty Reports to UGARF on the same schedule as Royalty Payments, and specifically Licensee shall deliver Royalty Reports to UGARF four (4) times per year, one for each calendar quarter, with each Royalty Report due at the earlier of the date the associated Royalty Payment is delivered or sixty (60) days after the close of the calendar quarter to which it relates.
Royalty Reporting. In conjunction with each payment, Company shall provide UWMRF a written report, the first such report being due and related to the quarter in which the first Net Sales occurred, having sufficient detail to allow a determination of the royalties due UWMRF pursuant to this Agreement. Each report provided to UWMRF shall contain at least the following information using the template found in Exhibit 3:
a. the gross dollar and number of unit sales of Licensed Products Sold by Company, its Affiliates in each country; and,
b. the calculation of Net Sales for Licensed Products Sold by Company or its Affiliates in each country; and,
c. the total royalties payable to UWMRF in U.S. Dollars, together with the exchange rates used for conversion; and,
d. a statement that no royalties are due, if no royalties are due to UWMRF for any reporting period after the first Sale of a Licensed Product; and,
e. direct fees and revenue, or in the case of non-cash consideration, the cash value of such consideration received by Company from any sublicensee pursuant to any sublicense agreement, for the purposes of calculating amounts due UWMRF pursuant to Article 3.5 hereof.
Royalty Reporting. Royalties shall be calculated and reported for each calendar year within [***] after the end of each calendar year. With delivery of such report, Licensee shall also pay the corresponding amount of the royalty due to WuXi Biologics, if any. Each report of royalties shall include Annual Net Sales by Licensee and its Affiliates in the Territory on a country-by-country basis for each Licensed Product during the applicable calendar year, which report shall include the gross amounts invoiced and Annual Net Sales, the royalties payable, how such royalties were calculated (including an accounting of any reductions in applicable royalty rates and/or summary of deductions in determining Annual Net Sales), and the exchange rates used, in each case presented on a country-by-country basis for each Licensed Product, and only for the applicable calendar year. Such reports shall be the Confidential Information of Licensee.
Royalty Reporting. After the first sale anywhere in the Territory, within 10 Business Days following the end of each Calendar Quarter, Licensee shall deliver to MPP a statement accounting for, inter alia, all royalties calculations, Licensed Products and/or Compound (in terms of smallest units and patient packs for each formulation) sold or supplied by Licensee under this Agreement during such Calendar Quarter in the reporting template as set forth in Appendix 4. For the avoidance of doubt, such royalty reports shall include sales for which no royalty payment may be due and payable. MPP agrees that information contained in quarterly and other such reports shall be treated as Confidential Information, provided, however, that such information may be shared with Shionogi (with Shionogi treating such reports as Confidential Information).
Royalty Reporting. POINT shall provide to the Licensor written reports within [***] days following the end of Calendar Half Year in the Calendar Year for which royalties are due, setting out (i) the Net Sales of Product in the Territory sold by POINT, its Affiliates and Sublicensees during that Calendar Half Year; (ii) a calculation of the amount of royalties due on Net Sales during such Calendar Half Year; (iii) the exchange rates used, if any, in determining the amount due or performing any necessary currency conversion; and (iv) any withholding Taxes required to be paid from such royalties (combined within each Calendar Year, such Calendar Half Year written reports constitute the “Annual Royalty Report”). The information in the Annual Royalty Report will be deemed POINT’s Confidential Information.
Royalty Reporting a. Licensee shall furnish written royalty reports and royalty payments to Bitstream within thirty (30) days after the end of each calendar quarter indicating the number of Licensed Products sublicensed during the preceding calendar quarter and the number of output devices that used Licensed Products as described above. A royalty report form is attached hereto as Attachment 1 to record each Licensed Product sublicensed, the number of sublicensed copies and the applicable royalty rate(s).
b. Licensee shall maintain invoices and other documentation necessary to substantiate the number of royalty payments due under this Agreement for a period of three years from the date the applicable royalty report was sent to Bitstream. Bitstream or its authorized representative may at Bitstream expense, inspect and copy such documentation at all reasonable times during normal business hours. A royalty period may not be inspected more than once. If a royalty period has not been inspected within said three (3) years, then the royalty reports rendered for such period shall be deemed to Bitstream. Bitstream agrees to keep all information obtained during any royalty report inspection confidential and agrees that such information shall not be used for any purpose except to verify and collect the royalties due under this Agreement. Licensee shall provide to Bitstream financial statements and such other financial information, certified by an officer of Licensee, as Bitstream shall request from time to time, so long as any money may be due or may become due from Licensee to Bitstream under this Agreement. By: *** By: *** Print Name: *** Print Name: *** Title: Vice President, Sales & Marketing Title: Gen. Mgr. Cob Dig. Receivers Date: 15-24-97 Date: 23-12-97 Bitstream Inc. *** OEM/ISV License Agreement Philips Business Electronics B.V. 11
Royalty Reporting. Each Calendar Quarter following the First Commercial Sale of a Program Product in the Territory, Rayze shall furnish to Nimble a written report within [***] following the end of such Calendar Quarter showing on a Program Product-by-Program Product and country-by-country basis the Net Sales and the royalties payable under this Agreement on account of those Net Sales including the exchange rates and other methodology used in converting into Dollars from the currencies in which the sales were made during such Calendar Quarter. Such report shall contain sufficient detail to permit confirmation of the accuracy of the royalties payable under this Agreement, including gross sales, details of the deductions from gross sales taken in accordance with Section 1.64, any applicable adjustments made pursuant to Section 5.12.3 and details of any royalty reductions taken in accordance with Sections 5.12.4 and 5.12.5. Following ▇▇▇▇▇▇’s receipt of such report, Nimble shall promptly indicate that it disputes such report or shall otherwise send an invoice to Rayze for the royalty payment due for such Calendar Quarter. Within [***] after ▇▇▇▇▇’s receipt of such invoice, Rayze shall pay all undisputed amounts due to Nimble pursuant to this Section 5.12 with respect to Net Sales by ▇▇▇▇▇, its Affiliates and their respective Licensees for such Calendar Quarter. All payments due under this Section 5.12 shall be made by bank wire transfer in immediately available funds to an account designated by Nimble.
Royalty Reporting. After the first sale anywhere in the Territory, within twenty
Royalty Reporting. Within [***] after the end of each Accounting Period, Roche shall provide to LICENSEE for such Accounting Period, on a Licensed Product-by-Licensed Product and country-by-country basis, a written report with the following information, [***]:
(i) the gross amount invoiced in Swiss Francs;
(ii) Sales in Swiss Francs, and the specific deductions applied in the calculation of Sales pursuant to Schedule 1.7;
(iii) Net Sales in Swiss Francs, and the specific deductions applied in the calculation of Net Sales pursuant to Schedule 1.7;
(iv) exchange rate used for the conversion of Net Sales from Swiss Francs to the Payment Currency;
(v) Net Sales in the Payment Currency;
(vi) total royalty payable in the Payment Currency. [***]