Commission Statements. A-S shall provide Akorn with a quarterly statement on or before the thirtieth (30th) day following each calendar quarter during the Term and on or before the thirtieth (30th) day following the effective date of any termination or expiration of this Agreement, reporting the Net Sales of Products for the preceding calendar quarter, and the calculation of the Commission due (“Commission Statement”). To the extent A-S claims or makes any adjustments for Product returns or defects as permitted under Section 1.11 above in determining the Net Sales for the preceding quarter, the Commission Statement for that quarter must contain detailed information about the number of Products returned or credited, the monetary amount of the credit or adjustment, and the calculation of the eight percent (8%) cap on such credits and adjustments pursuant to Section 1.11 above.
Appears in 3 contracts
Sources: Sales and Marketing Agreement, Sales and Marketing Agreement (Akorn Inc), Limited Liability Company Agreement (Akorn Inc)