Common use of Semi-Annual Reports Clause in Contracts

Semi-Annual Reports. Within thirty (30) days following the end of each six (6) month period during the term of the License with respect to each Accepted Cell Line, BMS shall provide to Athersys a written progress report that shall describe the results and developments of the use of such Accepted Cell Line, and the discovery, research and development of Candidate Compounds therewith. With such reports, BMS shall disclose to Athersys in summary form (i.e., in a manner that does not require BMS to disclose sensitive or competitively-enabling data or information) the development, making, conception or reduction to practice of all Candidate Compounds that are discovered, made, investigated, conceived or reduced to practice by use of such Accepted Cell Line or assays based thereon. In addition, BMS shall fully disclose to Athersys in each such report any Improvements that BMS may have developed during the period covered by such report.

Semi-Annual Reports. Within thirty (30) 30 days following the end of each six (6) month period during the term of the License with respect to each Accepted Cell Line, BMS shall provide to Athersys a written progress report that shall describe the results and developments of the use of such Accepted Cell Line, and the discovery, research and development of Candidate Compounds therewith. With such reports, BMS shall disclose to Athersys in summary form (i.e., in a manner that does not require BMS to disclose sensitive or competitively-enabling data or information) the development, making, conception or reduction to practice of all Candidate Compounds that are discovered, made, investigated, conceived or reduced to practice by use of such Accepted Cell Line or assays based thereon. In addition, BMS shall fully disclose to Athersys in each such report any Improvements that BMS may have developed during the period covered by such report.