Flash Reports. Within [***] after the end of each calendar quarter in which Licensee or its Affiliates sell a Licensed Product, Licensee will provide to Akebia a “flash” report. Each such flash report will set forth (a) for the first and second month of such calendar quarter: (i) the actual gross sales of all Licensed Products sold by Licensee or its Affiliates in the Territory in such months; and (ii) the actual total aggregate Net Sales of the Licensed Products sold by Licensee or its Affiliates in the Territory in such months, and (b) for the third month of such calendar quarter, Licensee’s good faith estimate of the amounts set forth in the foregoing clauses (a)(i) and (a)(ii) of this Section 11.3.1 (Flash Reports). All amounts for the third month of each calendar quarter included in each Flash Report will be prepared as good faith estimates and will be updated with definitive numbers in the applicable Quarterly Report.
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Flash Reports. Within [***] after the end of each calendar quarter in which Licensee or its Affiliates sell a Licensed Product, Licensee will provide to Akebia a “flash” report. Each such flash report will set forth (a) for the first and second month of such calendar quarter: (i) the actual gross sales of all Licensed Products sold by Licensee or its Affiliates in the Territory in such months; and (ii) the actual total aggregate Net Sales of the Licensed Products sold by Licensee or its Affiliates in the Territory in such months, and (b) for the third month of such calendar quarter, Licensee’s good faith estimate of the amounts set forth in the foregoing clauses (a)(i) and (a)(ii) of this Section 11.3.1 (Flash Reports). All amounts for the third month of each calendar quarter included in each Flash Report will be prepared as good faith estimates and will be updated with definitive numbers in the applicable Quarterly Report.
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