Sponsor Reporting Clause Samples
Sponsor Reporting. Each Party will assume responsibility for reporting the Patent Rights to its own government and other research sponsors as may be required, provided that if Lead Institution and the Other Institution(s) both received federal funding for the research that resulted in the Patent Rights, then the Lead Institution will take responsibility for the federal reporting, and provide viewing rights or copies of sponsor reports to the other Party.
Sponsor Reporting. The Loan Parties shall cause each Sponsor to furnish the following financial reports to the Administrative Agent (and post copies of such financial reports to a data site):
(a) within sixty (60) days after the end of each calendar quarter, unaudited consolidated balance sheets and statements of income and cash flows of such Sponsor, as at the end of such quarter and for the period commencing at the end of the immediately preceding calendar year and ending with the end of such quarter, all in reasonable detail and certified by a Responsible Officer of such Sponsor, as fairly presenting, in all material respects, the consolidated financial position of such Persons as of the end of such quarter and the results of operations and cash flows of such Persons for such quarter, in accordance with GAAP as prescribed by the “AICPA Audit and Accounting Guide – Audits of Investment Companies” applied in a manner consistent with that of the most recent audited financial statements of such Person furnished to the Administrative Agent and the Lenders, subject to normal year-end adjustments and the absence of footnotes; and
(b) within one hundred twenty (120) days after the end of each calendar year, audited consolidated balance sheets and statements of income and cash flows of such Sponsor, as at the end of such calendar year, setting forth in each case in comparative form the corresponding figures for the immediately preceding calendar year, all in reasonable detail and prepared in accordance with GAAP as prescribed by the “AICPA Audit and Accounting Guide – Audits of Investment Companies”.