Common use of Further Reports Clause in Contracts

Further Reports. After the Multimedia Product has been Developed to the Investor's satisfaction and for so long as the Investor has any interest in the Product Intellectual Property Rights, the Producer will provide progress reports; (a) every six (6) months for the first three (3) years of the project; (b) annually for the next four years of the project unless the Investor's interest in the project comes to an end at an earlier stage.