Royalty Statement. Within 60 days after the end of each calendar semi-annual period ending on the 30th of June and the 31st of December, respectively, during the term hereof and until the expiration date of the royalty periods specified herein, each party shall provide and cause its Affiliates and sublicensees to provide to the other party a written statement setting forth the amount of the royalty income which shall become due and payable to the other party under the licenses granted herein, including information regarding the royalties from sublicensees. Each statement shall set forth in reasonable detail the basis on which the amount of such royalties shall have been determined, and shall be accompanied by payment of royalties due.
Appears in 2 contracts
Sources: Intellectual Property Agreement, Collaboration Agreement (Poet Technologies Inc.)