Common use of Royalty Reporting Clause in Contracts

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.