Common use of Royalty Reports and Payments Clause in Contracts

Royalty Reports and Payments. Within […***…] following the end of each calendar quarter following the First Commercial Sale of a Licensed Product anywhere in the Territory, Mirum shall provide Shire with a report containing the following information for the applicable calendar quarter, on a Licensed Product-by-Licensed Product and country-by-country basis: (i) the amount of gross sales of such Licensed Product in such country, (ii) an itemized calculation of Net Sales in such country showing deductions provided for in the definition of Net Sales in Section 1.37, (iii) a calculation of the royalty payment due on such sales, (iv) an accounting of the number of units and prices for Licensed Product sold, (v) the exchange rate for such country (pursuant to Section 4.6), (vi) the date of First Commercial Sale of such Licensed Product in such country, and (vii) identification of whether such Licensed Product is an SHP625 Licensed Product or an SHP626 Licensed Product. Concurrent with the delivery of the applicable quarterly report, Mirum shall pay all amounts due to Shire pursuant to this Section 4.5 with respect to Net Sales by Mirum, any of its Affiliates and their respective sublicensees for such calendar quarter.

Royalty Reports and Payments. Within […...***…...] following the end of each calendar quarter following the First Commercial Sale of a Licensed Product anywhere in the Territory, Mirum Lumena shall provide Shire Sanofi with a report containing the following information for the applicable calendar quarter, on a Licensed Product-by-Licensed Product and country-by-country basis: (i) the amount of gross sales of such Licensed Product in such country, (ii) an itemized calculation of Net Sales in such country showing deductions provided for in the definition of Net Sales in Section 1.371.31, (iii) a calculation of the royalty payment due on such sales, (iv) an accounting of the number of units and prices for Licensed Product sold, (v) the exchange rate for such country (pursuant as published in The Wall Street Journal, Eastern Edition, on the last business day of the last month in the calendar quarter to Section 4.6which such payments relate), and (vi) the date of First Commercial Sale of such Licensed Product in such country, and (vii) identification of whether such Licensed Product is an SHP625 Licensed Product or an SHP626 Licensed Product. Concurrent with the delivery of the applicable quarterly report, Mirum Lumena shall pay all amounts due to Shire Sanofi pursuant to this Section 4.5 3.5 with respect to Net Sales by MirumLumena, any of its Affiliates and their respective sublicensees and subcontractors for such calendar quarter.

Royalty Reports and Payments. Within […***…] following the end of each calendar quarter following the First Commercial Sale of a Licensed Product anywhere in the Territory, Mirum Lumena shall provide Shire Sanofi with a report containing the following information for the applicable calendar quarter, on a Licensed Product-by-Licensed Product and country-by-country basis: (i) the amount of gross sales of such Licensed Product in such country, (ii) an itemized calculation of Net Sales in such country showing deductions provided for in the definition of Net Sales in Section 1.371.31, (iii) a calculation of the royalty payment due on such sales, (iv) an accounting of the number of units and prices for Licensed Product sold, (v) the exchange rate for such country (pursuant as published in The Wall Street Journal, Eastern Edition, on the last business day of the last month in the calendar quarter to Section 4.6which such payments relate), and (vi) the date of First Commercial Sale of such Licensed Product in such country, and (vii) identification of whether such Licensed Product is an SHP625 Licensed Product or an SHP626 Licensed Product. Concurrent with the delivery of the applicable quarterly report, Mirum Lumena shall pay all amounts due to Shire Sanofi pursuant to this Section 4.5 3.5 with respect to Net Sales by MirumLumena, any of its Affiliates and their respective sublicensees and subcontractors for such calendar quarter.