Common use of Update Meetings Clause in Contracts

Update Meetings. During the Payment Term, but subject to Section 9.4, until the date upon which Seller has paid to the Purchaser an amount in Purchased Receivables equal to the Purchase Amount, the Purchaser shall be entitled to a [*] update call or meeting, as follows: at the Purchaser’s request, members of the senior management team of each Party shall meet up to (a) until each of the Approval Conditions and the Manufacturing Approval Condition have been satisfied, [*] in each Calendar Year and (b) after each of the Approval Conditions and the Manufacturing Approval Condition have been satisfied, [*] in each Calendar Year (in each case, which may be in-person at the Seller’s headquarters, or via teleconference or videoconference) in order for the Seller to review with the Purchaser the [*] Net Sales for the preceding [*] and the related reports delivered by the Seller pursuant to Section 3.5 and to discuss the status and the historical and potential performance of the Included Product and any regulatory developments. Seller shall also provide to Purchaser no later than [*] days prior to such update meetings, a list of the Key Commercial Contracts entered into, amended, modified, restated, supplemented, cancelled, terminated or waived during the preceding [*], or any Key Commercial Contracts then in progress or under negotiation, including the identity of the Key Commercial Contract Counterparty, and shall provide Purchaser with reasonably requested information relating to the purpose and content of such Key Commercial Contracts and reasons for any of the foregoing events relating thereto. Any information disclosed by either Party during such update meetings or calls or provided to the Purchaser pursuant to its request shall be considered “Confidential Information” of the disclosing Party subject to the terms of Article VIII. [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

Update Meetings. During the Payment Term, but subject to Section 9.4, until the date upon which Seller has paid to the Purchaser an amount in Purchased Receivables equal to the Purchase AmountARTICLE IX, the Purchaser Investor shall be entitled to a [*] quarterly update call or meeting, as follows: meeting (at the PurchaserInvestor’s requestelection, members of in person, via teleconference or videoconference or at a location reasonably designated by the senior management team of each Party shall meet up Company) to discuss: (a) until each of the Approval Conditions and the Manufacturing Approval Condition have been satisfied, [*] in each Calendar Year and (b) after each of the Approval Conditions and the Manufacturing Approval Condition have been satisfied, [*] in each Calendar Year (in each case, which may be in-person at the Seller’s headquarters, or via teleconference or videoconference) in order for the Seller to review with the Purchaser the [*] Net Sales for the preceding [*] and the related reports delivered by the Seller Company pursuant to Section 3.5 3.3; (b) an annual business plan and budget of the Company and its Subsidiaries containing, among other things, quarterly revenue and cash flow projections for the next year; (c) copies of any detailed audit reports, management letters or recommendations submitted to discuss the Board of Directors (or the audit committee of the Board of Directors) of the Company by its independent auditor in connection with the accounts or books of the Company or any Subsidiary, or any audit of any of them; (d) copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or other material inquiry by such agency regarding financial or other operational results of any Guarantor or any Company Party and copies of any material written correspondence or any other material written communication from the FDA or any other regulatory body; (e) the progress of sales and product development and marketing efforts made by the Company pursuant to the Product Plan; (f) the status and the historical and potential performance of the Included Product and Products; (g) any material regulatory or Patent developments. Seller shall also provide to Purchaser no later than [*] days prior to ; or (h) such update meetings, a list of other matters that the Key Commercial Contracts entered into, amended, modified, restated, supplemented, cancelled, terminated or waived during the preceding [*], or any Key Commercial Contracts then in progress or under negotiation, including the identity of the Key Commercial Contract Counterparty, and shall provide Purchaser with Investor reasonably requested information relating to the purpose and content of such Key Commercial Contracts and reasons for any of the foregoing events relating theretodeems appropriate. Any information disclosed by either Party during such update meetings or calls or provided to the Purchaser Investor pursuant to its request shall be considered “Confidential Information” of the disclosing Party subject to the terms of Article VIIIARTICLE IX. [*] = Certain confidential information contained Notwithstanding the foregoing, after the occurrence and during the continuance of a Default or an Event of Default, the Investor shall have the right, as often, at such times and with such prior notice as the Investor shall determine in this documentits reasonable discretion, marked by brackets, has been omitted to have such update meetings at the Company’s headquarters or inspect any records and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 operations of the Securities Exchange Act of 1934, as amendedCompany and its Subsidiaries.

Update Meetings. During the Payment Term, but subject to Section 9.4, until the date upon which Seller has paid to the Purchaser an amount in Purchased Receivables equal to the Purchase Amount, the Purchaser shall be entitled to a [*] update call or meeting, as follows: at the Purchaser’s request, members of the senior management team of each Party shall meet up to (a) until each of the Approval Conditions and the Manufacturing Approval Condition have been satisfied, [*] in each Calendar Year and (b) after each of the Approval Conditions and the Manufacturing Approval Condition have been satisfied, [*] in each Calendar Year (in each case, which may be in-person at the Seller’s headquarters, or via teleconference or videoconference) in order for the Seller to review with the Purchaser the [*] Net Sales for the preceding [*] and the related reports delivered by the Seller pursuant to Section 3.5 and to discuss the status and the historical and potential performance of the Included Product and any regulatory developments. Seller shall also provide to Purchaser no later than [*] days prior to such update meetings, a list of the Key Commercial Contracts entered into, amended, modified, restated, supplemented, cancelled, terminated or waived during the preceding [*], or any Key Commercial Contracts then in progress or under negotiation, including the identity of the Key [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. Commercial Contract Counterparty, and shall provide Purchaser with reasonably requested information relating to the purpose and content of such Key Commercial Contracts and reasons for any of the foregoing events relating thereto. Any information disclosed by either Party during such update meetings or calls or provided to the Purchaser pursuant to its request shall be considered “Confidential Information” of the disclosing Party subject to the terms of Article VIII. [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

Update Meetings. During the Payment Term, but subject to Section 9.4, until the date upon which Seller has paid to the Purchaser an amount in Purchased Receivables equal to the Purchase Amount‎ARTICLE IX, the Purchaser Investor shall be entitled to a [*] quarterly update call or meeting, as follows: meeting (at the PurchaserInvestor’s requestelection, members of in person, via teleconference or videoconference or at a location reasonably designated by the senior management team of each Party shall meet up Company) to discuss: (a) until each of the Approval Conditions and the Manufacturing Approval Condition have been satisfied, [*] in each Calendar Year and (b) after each of the Approval Conditions and the Manufacturing Approval Condition have been satisfied, [*] in each Calendar Year (in each case, which may be in-person at the Seller’s headquarters, or via teleconference or videoconference) in order for the Seller to review with the Purchaser the [*] Net Sales for the preceding [*] and the related reports delivered by the Seller Company pursuant to Section 3.5 ‎Section 3.3; (b) an annual business plan and budget of the Company and its Subsidiaries containing, among other things, quarterly revenue and cash flow projections for the next year; (c) copies of any detailed audit reports, management letters or recommendations submitted to discuss the Board of Directors (or the audit committee of the Board of Directors) of the Company by its independent auditor in connection with the accounts or books of the Company or any Subsidiary, or any audit of any of them; (d) copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or other material inquiry by such agency regarding financial or other operational results of any Guarantor or any Company Party and copies of any material written correspondence or any other material written communication from the FDA or any other regulatory body; (e) the progress of sales and product development and marketing efforts made by the Company pursuant to the Product Plan; (f) the status and the historical and potential performance of the Included Product and Products; (g) any material regulatory or Patent developments. Seller shall also provide to Purchaser no later than [*] days prior to ; or (h) such update meetings, a list of other matters that the Key Commercial Contracts entered into, amended, modified, restated, supplemented, cancelled, terminated or waived during the preceding [*], or any Key Commercial Contracts then in progress or under negotiation, including the identity of the Key Commercial Contract Counterparty, and shall provide Purchaser with Investor reasonably requested information relating to the purpose and content of such Key Commercial Contracts and reasons for any of the foregoing events relating theretodeems appropriate. Any information disclosed by either Party during such update meetings or calls or provided to the Purchaser Investor pursuant to its request shall be considered “Confidential Information” of the disclosing Party subject to the terms of Article VIII‎ARTICLE IX. [*] = Certain confidential information contained Notwithstanding the foregoing, after the occurrence and during the continuance of a Default or an Event of Default, the Investor shall have the right, as often, at such times and with such prior notice as the Investor shall determine in this documentits reasonable discretion, marked by brackets, has been omitted to have such update meetings at the Company’s headquarters or inspect any records and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 operations of the Securities Exchange Act of 1934, as amendedCompany and its Subsidiaries.