Frequency of Reporting. The fiscal year will be a calendar year. Reports of results compared to budget shall be made to the relevant Committee on a quarterly basis and on a year-to-date basis, for the entire Territory. After approval by the appropriate Committee as to amounts, such Committee shall forward the report to the JEC for its approval. ERS will be responsible for the preparation of consolidated reporting for Japan, calculation of the profit/loss sharing and determination of the cash settlement. ERS will provide the Finance Committee within 30 business days or receipt of each Party's financial information, a statement showing the consolidated results and calculations of the sharing of Operating Profit or Loss in Japan and cash settlement required in a format agreed to by the Parties.
Appears in 1 contract
Sources: Development, Promotion, Distribution and Supply Agreement (Imclone Systems Inc/De)
Frequency of Reporting. The fiscal year will be a calendar year. Reports of results compared to budget shall be made to the relevant Committee on a quarterly basis and on a year-to-date basis, for the entire Territory. After approval by the appropriate Committee as to amounts, such Committee shall forward the report to the JEC for its approval. ERS will be responsible for the preparation of consolidated reporting for Japan, calculation of the profit/loss sharing and determination of the cash settlement. ERS will provide the Finance Committee within 30 business days or receipt of each Party's financial information, a statement showing the consolidated results and calculations of the sharing of Operating Profit or Loss in Japan and cash settlement required in a format agreed to by the Parties.. DEFINITIONS
Appears in 1 contract
Sources: Development, Promotion, Distribution and Supply Agreement (Bristol Myers Squibb Co)
Frequency of Reporting. The fiscal year will be a calendar year. Reports of results compared to budget shall be made to the relevant Committee on a quarterly basis and on a year-to-date basis, for the entire Territory. After approval by the appropriate Committee as to amounts, such Committee shall forward the report to the JEC for its approval. ERS will be responsible for the preparation of consolidated reporting for Japan, calculation of the profit/loss sharing and determination of the cash settlement. ERS will provide the Finance Committee within 30 business days or receipt of each Party's financial information, a statement showing the consolidated results and calculations of the sharing of Operating Profit or Loss in Japan and cash settlement required in a format agreed to by the Parties.. Definitions
Appears in 1 contract
Sources: Development, Promotion, Distribution and Supply Agreement