Common use of Royalty Reporting Clause in Contracts

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.