Common use of Flash Reports Clause in Contracts

Flash Reports. Each Party acknowledges and agrees that the “flash reports” to be provided under this Section 9.4.1 (Periodic Reports) represent only the applicable Party’s good faith estimate of the costs, expenses, or profits (as applicable) to be provided in the applicable report with the use of Commercially Reasonable Efforts. Neither Party will be responsible in connection with any inaccuracies included in any flash report provided pursuant to this Section 9.4 (Sharing of Profits) to the extent a Party complied with the previous sentence. Each Party acknowledges and agrees that the “flash reports” to be provided under this Section 9.4.1 (Periodic Reports) (rather than having the definitive reports due at such time period) is an accommodation to Kiniksa while it is a young company. As Kiniksa develops its accounting and financial reporting capabilities, the Parties shall discuss in good faith, the shortening of the time periods in Section 9.4.1 (Periodic Reports) and any related changes in Section 9.4.5 (Funds Flow).