Common use of Content of Report Clause in Contracts

Content of Report. Each Trademark Royalty payment shall be accompanied by a written report, showing (a) the Net Sales of each dosage form of the Licensed Product on which the Trademark is used that is sold by NOVACEA, its Affiliates and its permitted sublicensees and the level of inventory (in units) in each country of the NOVACEA Territory during the reporting period; (b) the Trademark Royalties, payable in Dollars, which shall have accrued hereunder in respect of such Net Sales; (c) withholding taxes, if any, required by Legal Requirements to be deducted in respect of such Net Sales; and (d) the exchange rates used in determining the amount of Dollars. With respect to sales of a Licensed Product invoiced in Dollars, the Net Sales and Trademark Royalty payable shall be expressed in Dollars. With respect to sales of a Licensed Product invoiced in a currency other than Dollars, the Net Sales and Trademark Royalty payable hereunder shall be expressed in the domestic currency of the party making the sale together with the Dollar equivalent of the Trademark Royalty payable, calculated using the simple average of the exchange rates published in the Wall Street Journal on the last day of each month of the Commercial Year. NOVACEA, shall, upon written request, furnish to ▇▇▇▇▇▇ ▇▇▇▇▇ appropriate evidence of payment of any tax or other amount deducted from any Trademark Royalty payment. In case no Trademark Royalty is due for any Trademark Royalty period hereunder, NOVACEA shall so report. A sample of a Trademark Royalty report (without any withholding taxes) required to be delivered by NOVACEA pursuant to this Section 5.3 is attached as Schedule 5.3 hereto.

Content of Report. Each Trademark Royalty payment shall be accompanied by a written report, showing (a) the Net Sales of each dosage form of the Licensed Product on which the Trademark is used that is sold by NOVACEA, its Affiliates and its permitted sublicensees and the level of inventory (in units) in each country of the NOVACEA Territory during the reporting period; (b) the Trademark Royalties, payable in Dollars, which shall have accrued hereunder in respect of such Net Sales; (c) withholding taxes, if any, required by Legal Requirements to be deducted in respect of such Net Sales; and (d) the exchange rates used in determining the amount of Dollars. With respect to sales of a Licensed Product invoiced in [*] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Dollars, the Net Sales and Trademark Royalty payable shall be expressed in Dollars. With respect to sales of a Licensed Product invoiced in a currency other than Dollars, the Net Sales and Trademark Royalty payable hereunder shall be expressed in the domestic currency of the party making the sale together with the Dollar equivalent of the Trademark Royalty payable, calculated using the simple average of the exchange rates published in the Wall Street Journal on the last day of each month of the Commercial Year. NOVACEA, shall, upon written request, furnish to ▇▇▇▇▇▇ ▇▇▇▇▇ appropriate evidence of payment of any tax or other amount deducted from any Trademark Royalty payment. In case no Trademark Royalty is due for any Trademark Royalty period hereunder, NOVACEA shall so report. A sample of a Trademark Royalty report (without any withholding taxes) required to be delivered by NOVACEA pursuant to this Section 5.3 is attached as Schedule 5.3 hereto.