Common use of Frequency of Reports Clause in Contracts

Frequency of Reports. On or before each January 30 occurring before the first SALE of a LICENSED PRODUCT under this Agreement, Licensee shall deliver to RCT a true and accurate report showing the items specified in Subsection 2.3.2 below as they pertain to the calendar year just ended. On or before the first January 30, April 30, July 30 or October 30 immediately following the first SALE of a LICENSED PRODUCT under this Agreement and on or before each January 30, April 30, July 30 and October 30 thereafter during the term of this Agreement,, Licensee shall deliver to RCT a true and complete written report, showing the items specified in Subsection 2.3.2 below as they pertain to the calendar quarter just ended. A responsible financial officer of Licensee (or that officer's responsible designee), Licensee's independent accounting firm, or the head of Licensee's internal audit committee shall certify in writing that each such report is correct and complete. Licensee's payment of the earned royalties due in respect of the SALE or importation of LICENSED PRODUCTS by Licensee and its AFFILIATES in the calendar quarter covered by the written report shall accompany the report. If no earned royalties are due, Licensee shall so report. Licensee shall pay all amounts due to RCT under this Agreement in United States currency collectible at par (without deduction of exchange, collection or other charges) by wire transfer to: RESEARCH CORPORATION TECHNOLOGIES, INC., Wells ▇▇▇▇▇ Bank, NA., Tucson Main Office, 150 N. ▇▇▇▇▇ ▇▇▇., P.O. Box 1871, Tucson, AZ 85702, ABA & Transit No. 121000▇▇▇, ▇▇▇▇. 4159-527159--RCT CHECKING; or to the account of RCT at such other bank as RCT may from time to time designate in writing. Licensee shall pay the cost of any wire transfer fees. If the amount is less than $100,000, Licensee may elect to pay by company check, instead of wire transfer, at the address shown in SECTION

Frequency of Reports. On or before each January 30 occurring before the first SALE of a LICENSED PRODUCT under this Agreement, Licensee shall deliver to RCT a true and accurate report showing the items specified in Subsection 2.3.2 2.4.3 below as they pertain to the calendar year just ended. On or before the first January 30, April 30, July 30 or October 30 immediately following the first SALE of a LICENSED PRODUCT under this Agreement and on or before each January 30, April 30, July 30 and October 30 thereafter during the term of this Agreement,, Licensee shall deliver to RCT a true and complete written report, report showing the items specified in Subsection 2.3.2 2.4.3 below as they pertain to the calendar quarter just ended. A responsible financial officer of Licensee (or that officer's responsible designee), Licensee's independent accounting firm, or the head of Licensee's internal audit committee shall certify in writing that each such report is correct and complete. Licensee's payment of the earned royalties due in respect of the SALE based on Licensee's or importation of LICENSED PRODUCTS by Licensee and its AFFILIATES AFFILIATES' activities in the calendar quarter covered by the written report shall accompany the report. If no earned royalties are due, Licensee shall so report. Licensee shall pay all amounts due to RCT under this Agreement in United States currency collectible at par (without deduction of exchange, collection or other charges) by wire transfer to: RESEARCH CORPORATION TECHNOLOGIES, INC., Wells ▇▇▇▇▇ Fargo Bank, NA.N.A., Tucson Main Office, 150 N. ▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇Ave., P.O. Box 1871, Tucson, AZ 85702, ABA & Transit No. 121000▇▇▇▇▇▇▇▇▇, ▇▇▇▇Acct. 4159-527159--RCT CHECKING; or to the account of RCT at such other bank as RCT may from time to time designate in writing. Licensee shall pay the cost of any wire transfer fees. If the amount is less than $100,000, Licensee may elect to pay by company check, instead of wire transfer, at the address shown in SECTIONSECTION 7.2. On or before the date 90 days after the end of the calendar quarter in which this Agreement is terminated, Licensee shall provide to RCT a written report that complies in all respects with this SECTION 2.4. Licensee shall require each AFFILIATE to which this Agreement is extended under SECTION 1.3 to make appropriate reports to Licensee to enable Licensee to comply with this SECTION 2.4.

Frequency of Reports. On or before each January 30 occurring before the first SALE of a LICENSED PRODUCT under this Agreement, Licensee shall deliver to RCT a true and accurate report showing the items specified in Subsection 2.3.2 2.4.3 below as they pertain to the calendar year just ended. On or before the first January 30, April 30, July 30 or October 30 immediately following the first SALE of a LICENSED PRODUCT under this Agreement and on or before each January 30, April 30, July 30 and or October 30 thereafter during the term of this Agreement,, Licensee shall deliver to RCT a true and complete written report, report showing the items specified in Subsection 2.3.2 2.4.3 below as they pertain to the calendar quarter just ended. A responsible financial officer of Licensee (or that officer's responsible designee), Licensee's independent accounting firm, or the head of Licensee's internal audit committee shall certify in writing that each such report is correct and complete. Licensee's payment of the earned royalties due in respect of the SALE based on Licensee's or importation of LICENSED PRODUCTS by Licensee and its AFFILIATES AFFILIATES' activities in the calendar quarter covered by the written report shall accompany the report. If no earned royalties are due, Licensee shall so report. Licensee shall pay all amounts due to RCT under this Agreement in United States currency collectible at par (without deduction of exchange, collection or other charges) by wire transfer to: RESEARCH CORPORATION TECHNOLOGIES, INC., Wells ▇▇▇▇▇ Fargo Bank, NA.N.A., Tucson Main Office, 150 N. ▇▇▇ ▇. ▇▇▇▇▇ ▇▇▇Ave., P.O. Box 1871, Tucson, AZ 85702, ABA & Transit No. 121000▇▇▇▇▇▇▇▇▇, ▇▇▇▇Acct. 4159-527159--RCT CHECKING; or to the account of RCT at such other bank as RCT may from time to time designate in writing. Licensee shall pay the cost of any wire transfer fees. If the amount is less than $100,000, Licensee may elect to pay by company check, instead of wire transfer, at the address shown in SECTIONSECTION 7.2. On or before the date 90 days after the end of the calendar quarter in which this Agreement is terminated, Licensee shall provide to RCT a written report that complies in all respects with this SECTION 2.4. Licensee shall require each AFFILIATE to which this Agreement is extended under SECTION 1.3 to make appropriate reports to Licensee to enable Licensee to comply with this SECTION 2.4.