PROGRESS AND ROYALTY REPORTS Sample Clauses
The "Progress and Royalty Reports" clause requires a party, typically a licensee, to provide regular updates on the development, commercialization, and sales of licensed products, as well as detailed statements of royalties owed. These reports often include information such as units sold, revenue generated, and calculations of royalties due for a specified period. By mandating these disclosures, the clause ensures transparency and enables the licensor to monitor compliance with the agreement and verify that appropriate payments are being made.
PROGRESS AND ROYALTY REPORTS. 8.1 For the period beginning [date] LICENSEE will submit to REGENTS a semi-annual progress report covering LICENSEE's activities related to the development and testing of all LICENSED PRODUCTS, LICENSED SERVICES and LICENSED METHOD and the obtaining of necessary governmental approvals, if any, for marketing in the United States. These progress reports will be made for all development activities until the first SALE occurs in the United States.
8.2 Each progress report will be a sufficiently detailed summary of activities of LICENSEE and any SUBLICENSEES so that REGENTS may evaluate and determine LICENSEE’s progress in development of LICENSED PRODUCTS, LICENSED SERVICES, and LICENSED METHOD, and in meeting its diligence obligations under Article 7, and will include (but not be limited to) the following: summary of work completed and in progress; current schedule of anticipated events and milestones, including diligence milestones under Paragraph 7.2; anticipated market introduction dates for the LICENSED TERRITORIES; and SUBLICENSEE’s activities during the reporting period.
8.3 LICENSEE also will report to REGENTS in its immediately subsequent progress and royalty reports, the date of first SALE.
8.4 After the first SALE anywhere in the world, LICENSEE will make quarterly royalty reports to REGENTS within sixty (60) days after the quarters ending March 31, June 30, September 30, and December 31, of each year. Each such royalty report will be substantially similar to APPENDIX A and include at least the following:
(a) The number of LICENSED PRODUCTS manufactured and the number SOLD;
(b) Gross revenue from SALE of LICENSED PRODUCTS, LICENSED SERVICES and LICENSED METHOD;
(c) NET SALES pursuant to Paragraph 2.5;
(d) Total royalties due REGENTS; and
(e) Names and addresses of any new SUBLICENSEES along with a summary of the material terms of each new SUBLICENSE AGREEMENT entered into during the reporting quarter.
8.5 If no SALEs have occurred during the report period, a statement to this effect is required in the royalty report for that period.
PROGRESS AND ROYALTY REPORTS. 6.1 Beginning February 28, 1998, and semi-annually thereafter, Licensee will submit to The Regents a progress report covering activities by Licensee related to the development, including clinical trials and testing, of all Patent Products and the obtaining of the governmental approvals necessary for marketing. These progress reports will be provided to The Regents to cover the progress of the research and development of the Patent Products until their first commercial sale in the United States.
6.2 The progress reports submitted under Paragraph 6.1 will include, but not be limited to, the following topics so that The Regents may be able to determine the progress of the development of Patent Products: o summary of work completed; o summary of work in progress; o current schedule of anticipated events or milestones specified in Paragraph 5.3 and the dates when said milestones have been met or will be met, as of the time of the report; o market introduction date of Patent Products; and o activities of sublicensees, if any.
6.3 Licensee will also report to The Regents in its immediately subsequent progress and royalty report the date of first commercial sale of a Patent Product(s) in each country where the Licensee has sought marketing approval.
6.4 After the first commercial sale of a Patent Product, Licensee will provide The Regents with quarterly royalty reports to The Regents on or before each February 28, May 31, August 31, and November 30 of each year. Each such royalty report will cover the most recently completed calendar quarter of Licensee (October through December, January through March, April through June, and July through September) and will show:
6.4.1 the gross sales and Net Sales of Patent Products sold by Licensee and reported to Licensee as sold by its sublicensees during the most recently completed calendar quarter;
6.4.2 the number of Patent Products sold or distributed by Licensee and reported to Licensee as sold or distributed by its sublicensees;
6.4.3 the royalties, in U.S. dollars, payable hereunder with respect to Net Sales; and
6.4.4 the exchange rates used, if any.
6.5 If no sales of Patent Products have been made during any reporting period after the first commercial sale of a Patent Product, then a statement to this effect is required.
PROGRESS AND ROYALTY REPORTS. 9.1 Beginning [ * ], Licensee must submit to The Regents [ * ] progress reports covering Licensee’s activities related to the development and testing of all Licensed Products and the obtaining of the governmental approvals necessary for marketing. These progress reports must be made for each Licensed Product until its First Commercial Sale.
9.2 The progress reports submitted under Paragraph 9.1 must include the following topics:
PROGRESS AND ROYALTY REPORTS. 9.1 Beginning [**], and [**] thereafter, Licensee shall submit to The Regents a written progress report covering Licensee’s and any Affiliate or sublicensee’s activities related to the development and testing of all Combination Product and Licensed Product and the obtaining of the governmental approvals necessary for marketing. Progress reports are required for each Combination Product and Licensed Product until the first commercial sale of that Combination Product or Licensed Product occurs in the U.S. and shall be again required if commercial sales of such Combination Product or Licensed Product are suspended or discontinued.
9.2 Progress reports submitted under Paragraph 9.1 shall include, but are not limited to, the following topics: [**].
9.3 Licensee has a continuing responsibility to keep The Regents informed of the small business entity status as defined by the U.S. Patent and Trademark Office of itself and its sublicensees and Affiliates.
9.4 Licensee shall report to The Regents in its immediately subsequent progress and royalty report the date of first commercial sale of a Combination Product and/or Licensed Product in each country.
9.5 After the first commercial sale of a Combination Product or Licensed Product anywhere in the world, Licensee shall make quarterly royalty reports to The Regents on or before each February 28, May 31, August 31 and November 30 of each year. Each royalty report will cover Licensee’s most recently completed calendar quarter and will show:
9.5.1 the [**] and [**] of Combination Product and Licensed Product sold during the most recently completed calendar quarter;
9.5.2 the [**] of Combination Product and Licensed Product sold;
9.5.3 the [**] of Combination Product and Licensed Product;)
9.5.4 the [**]; and
9.5.5 the [**] used.
9.6 If no sale of Combination Product or Licensed Product has been made during any reporting period, a statement to this effect is required.
PROGRESS AND ROYALTY REPORTS. 8.1 Beginning September 30, 2003, and semi-annually thereafter, Licensee shall submit to The Regents a written progress report covering Licensee's (and any Affiliate's or sublicensee's) activities related to the development and testing of Licensed Products and the obtaining of the governmental approvals necessary for marketing. Progress reports are required until the first commercial sale of a Licensed Product occurs in the U.S. and shall be again required if commercial sales of all Licensed Products are suspended or discontinued. All reports under this Article 7 shall be deemed the Confidential Information of Licensee pursuant to the terms of Article 28 (Secrecy).
8.2 Progress reports submitted under Paragraph 8.1 shall include, but are not limited to, the following topics:
8.2.1 a statement specifically addressing each diligence requirement of Article 7 (DUE DILIGENCE),
8.2.2 summary of work completed,
8.2.3 key scientific discoveries;
8.2.4 summary of work in progress,
8.2.5 current schedule of anticipated events or milestones,
8.2.6 market plans for introduction of Licensed Product, and
8.2.7 a summary of resources (dollar value) spent in the reporting period.
8.3 Licensee has a continuing responsibility to keep The Regents informed of the large or small business entity status (as defined by the U.S. Patent and Trademark Office) of itself and its sublicensees and Affiliates.
8.4 Licensee shall report to The Regents in its immediately subsequent progress and royalty report the date of first commercial sale of a Licensed Product in each country.
8.5 After the first commercial sale of a Licensed Product anywhere in the world, Licensee shall make quarterly royalty reports to The Regents on or before each February 28 (for the quarter ending December 31) May 31 (for the quarter ending March 31), August 31 (for the quarter ending June 30) and November 30 (for the quarter ending September 30) of each year. Each royalty report will cover Licensee's most recently completed calendar quarter and will show:
8.5.1 the gross sales and Net Sales of Licensed Product sold during the most recently completed calendar quarter;
8.5.2 the number of each type of Licensed Product sold;
8.5.3 the royalties, in U.S. dollars, payable with respect to sales of Licensed Product;
8.5.4 the method used to calculate the royalty;
8.5.5 the exchange rates used;
8.5.6 a justification in writing for the values of A and B along with the method of their calculation if combination products ar...
PROGRESS AND ROYALTY REPORTS. If this Agreement terminates for any reason, Berkeley Lab, at its sole discretion, shall determine whether HeartLab must cancel or assign to Berkeley Lab any or all sublicenses.
PROGRESS AND ROYALTY REPORTS. 10.1 Commencing on July 1, 1994, IntraBiotics shall submit to The Regents semi-annual progress response covering IntraBiotics' activities related to the development and testing of all Licensed Products and the obtaining of the governmental approvals necessary for marketing. These progress reports shall be made for each Licensed Product until the First [ * ] = 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 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. Commercial Sale and shall be marked confidential and maintained confidentially in accordance with Article 3.
10.2 IntraBiotics also agrees to report to The Regents in its immediately subsequent progress and royalty report the date of First Commercial Sale.
10.3 After the First Commercial Sale of a Licensed Product, IntraBiotics will make quarterly royalty reports to The Regents on or before each [ * ] of each year (i.e., within [ * ] from the end of each calendar quarter). Each such royalty report will cover IntraBiotics' most recently completed calendar quarter and will show: (a) the [ * ] of Licensed Products sold by IntraBiotics during the most recently completed calendar quarter, (b) the number of each type of Licensed Product sold; and (c) the royalties payable hereunder with respect to such.
PROGRESS AND ROYALTY REPORTS. 9.1 Beginning February 28, 2002 and semi-annually thereafter, the Licensee shall submit to The Regents a progress report covering the Licensee’s (and any Affiliate or Sublicensee’s) activities regarding the development and testing of all Licensed Products and the obtaining of any governmental approvals necessary for marketing. Progress reports are required until the first Commercial Sale of the first Licensed Product occurs in the United States, at which time the Licensee may discontinue such reports; provided that such reports may again be required by The Regents if Commercial Sales of such Licensed Product are suspended or discontinued.
9.2 Progress reports submitted under Paragraph 9.1 shall include, but are not limited to, the following topics, as they specifically refer to Licensed Products: • summary of work completed • key scientific discoveries • summary of work in progress • current schedule of anticipated events or milestones • market plans for introduction of Licensed Products, and • a summary of resources (dollar value) spent in the reporting period.
9.3 The Licensee has a continuing obligation to keep The Regents’ informed of the large/small business entity status (as defined by the United States Patent and Trademark Office) of itself and its Sublicensees and Affiliates.
9.4 The Licensee shall report to The Regents the date of first Commercial Sale of a Licensed Product in each country in its immediately subsequent royalty report (as described below).
PROGRESS AND ROYALTY REPORTS. 7.1 Beginning October 1, 2007, and annually thereafter, Licensee shall submit to University a progress report covering Licensee's activities related to the development and testing of all Licensed Products and commercial activities like sales and marketing. These progress reports shall be made for each Licensed Product in each country of the Territory.
7.2 The progress reports submitted under section 7.1 shall include sufficient information to enable University to determine Licensee's progress in fulfilling its obligations under Article 6, including, but not limited to, the following topics: - summary of work completed - key scientific discoveries - summary of work in progress, including product development and testing and progress in obtaining government approvals - current schedule of anticipated events or milestones - market plans for introduction of Licensed Products - summary of resources (dollar value) spent in the reporting period for research, development, and marketing of Licensed Products - activities in obtaining sublicenses and activities of sublicenses - certified financial statements as of the end of the previous calendar quarter if available
7.3 Licensee shall have a continuing responsibility to keep University informed of the large/small entity status (as defined by the United States Patent and Trademark Office) of itself and its sublicenses.
7.4 Licensee shall report to University in its immediately subsequent progress the date of first commercial sale of each Licensed Product in each country.
7.6 If no sales of Licensed Products have been made during any reporting period, a statement to this effect shall be made by Licensee.
PROGRESS AND ROYALTY REPORTS for reference only