Royalty Reports and Payments. During the Term and following the first commercial sale of any Licensed Product, Elpiscience shall, within thirty (30) days after the end of each calendar quarter, provide Inhibrx a written report of the following information for such quarter: (i) the gross sales of such Licensed Product(s); (ii) all deductions and adjustments applied in the calculation of Net Sales of such Licensed Product(s); (iii) total Net Sales of Licensed Products sold in the Territory; (iv) the exchange rate used to convert Net Sales from the currency in which they are earned to United States dollars; and (v) the total payment due. If Elpiscience is reporting Net Sales for more than one Licensed Product, the foregoing information shall be reported on a Licensed Product-by-Licensed Product basis. Elpiscience shall pay all royalties due under this Agreement with respect to a quarter within thirty (30) days after the end of such quarter.
Appears in 4 contracts
Samples: License Agreement (Inhibrx, Inc.), License Agreement (Inhibrx, Inc.), License Agreement (Inhibrx, Inc.)
