PROGRESS AND ROYALTY REPORTS Sample Clauses
The "Progress and Royalty Reports" clause requires a party, typically a licensee, to provide regular updates on the development, commercialization, and sales of licensed products, as well as detailed statements of royalties owed. These reports often include information such as units sold, revenue generated, and calculations of royalties due for a specified period. By mandating these disclosures, the clause ensures transparency and enables the licensor to monitor compliance with the agreement and verify that appropriate payments are being made.
PROGRESS AND ROYALTY REPORTS. 8.1 For the period beginning [date] LICENSEE will submit to REGENTS a semi-annual progress report covering LICENSEE's activities related to the development and testing of all LICENSED PRODUCTS, LICENSED SERVICES and LICENSED METHOD and the obtaining of necessary governmental approvals, if any, for marketing in the United States. These progress reports will be made for all development activities until the first SALE occurs in the United States.
8.2 Each progress report will be a sufficiently detailed summary of activities of LICENSEE and any SUBLICENSEES so that REGENTS may evaluate and determine LICENSEE’s progress in development of LICENSED PRODUCTS, LICENSED SERVICES, and LICENSED METHOD, and in meeting its diligence obligations under Article 7, and will include (but not be limited to) the following: summary of work completed and in progress; current schedule of anticipated events and milestones, including diligence milestones under Paragraph 7.2; anticipated market introduction dates for the LICENSED TERRITORIES; and SUBLICENSEE’s activities during the reporting period.
8.3 LICENSEE also will report to REGENTS in its immediately subsequent progress and royalty reports, the date of first SALE.
8.4 After the first SALE anywhere in the world, LICENSEE will make quarterly royalty reports to REGENTS within sixty (60) days after the quarters ending March 31, June 30, September 30, and December 31, of each year. Each such royalty report will be substantially similar to APPENDIX A and include at least the following:
(a) The number of LICENSED PRODUCTS manufactured and the number SOLD;
(b) Gross revenue from SALE of LICENSED PRODUCTS, LICENSED SERVICES and LICENSED METHOD;
(c) NET SALES pursuant to Paragraph 2.5;
(d) Total royalties due REGENTS; and
(e) Names and addresses of any new SUBLICENSEES along with a summary of the material terms of each new SUBLICENSE AGREEMENT entered into during the reporting quarter.
8.5 If no SALEs have occurred during the report period, a statement to this effect is required in the royalty report for that period.
PROGRESS AND ROYALTY REPORTS. 9.1. Beginning May 31, 2003, and semi-annually thereafter, Licensee shall submit to Berkeley Lab a progress report covering Licensee's activities related to the development and testing of all Licensed Products and the obtaining of the governmental approvals necessary for marketing Licensed Products. Licensee shall make these progress reports until the later of the completion of the milestones listed in Exhibit C or commercial sales of any Licensed Product start. 8 of 25 L-03-1370
9.2. The progress reports Licensee submits under paragraph 9.1 must include, but not be limited to, the following topics:
9.2.1. summary of work completed related to the requirements of Exhibit C;
9.2.2. key scientific discoveries;
9.2.3. summary of work in progress;
9.2.4. current schedule of anticipated milestones; and
9.2.5. market plans for introduction of Licensed Products; and
9.2.6. number of full-time equivalent employees or agents (FTEs) working on the development of Licensed Products and overall number of FTEs employed by Licensee.
9.3. Upon the earlier of five years after the Effective Date or after the first commercial sale of a Licensed Product anywhere in the world, Licensee shall make quarterly royalty reports to Berkeley Lab on or before February 28, May 31, August 31 and November 30 of each year. Each royalty report must cover the most recently completed calendar quarter and must show for all sales (or other disposition in accordance with paragraph 2.9):
9.3.1. the Selling Price of each type of Licensed Product sold by Licensee;
9.3.2. the number of each type of Licensed Product sold;
9.3.3. the royalties, in U.S. dollars, payable under this Agreement on those sales;
9.3.4. the exchange rates used in calculating the royalty due;
9.3.5. the royalties on government sales that otherwise would have been due under paragraph 7.10; and
9.3.6. for each sublicense, if any:
(1) the sublicensee;
(2) the information set forth in paragraphs 9.3.1 to 9.3.5 for that sublicensee's sales or other disposition of Licensed Product.
9.4. If no sales of Licensed Products have been made during any required reporting period, Licensee shall make a statement to this effect.
PROGRESS AND ROYALTY REPORTS. 9.1 Beginning [ * ], Licensee must submit to The Regents [ * ] progress reports covering Licensee’s activities related to the development and testing of all Licensed Products and the obtaining of the governmental approvals necessary for marketing. These progress reports must be made for each Licensed Product until its First Commercial Sale.
9.2 The progress reports submitted under Paragraph 9.1 must include the following topics:
PROGRESS AND ROYALTY REPORTS. 9.1 Beginning [**], and [**] thereafter, Licensee shall submit to The Regents a written progress report covering Licensee’s and any Affiliate or sublicensee’s activities related to the development and testing of all Combination Product and Licensed Product and the obtaining of the governmental approvals necessary for marketing. Progress reports are required for each Combination Product and Licensed Product until the first commercial sale of that Combination Product or Licensed Product occurs in the U.S. and shall be again required if commercial sales of such Combination Product or Licensed Product are suspended or discontinued.
9.2 Progress reports submitted under Paragraph 9.1 shall include, but are not limited to, the following topics: [**].
9.3 Licensee has a continuing responsibility to keep The Regents informed of the small business entity status as defined by the U.S. Patent and Trademark Office of itself and its sublicensees and Affiliates.
9.4 Licensee shall report to The Regents in its immediately subsequent progress and royalty report the date of first commercial sale of a Combination Product and/or Licensed Product in each country.
9.5 After the first commercial sale of a Combination Product or Licensed Product anywhere in the world, Licensee shall make quarterly royalty reports to The Regents on or before each February 28, May 31, August 31 and November 30 of each year. Each royalty report will cover Licensee’s most recently completed calendar quarter and will show:
9.5.1 the [**] and [**] of Combination Product and Licensed Product sold during the most recently completed calendar quarter;
9.5.2 the [**] of Combination Product and Licensed Product sold;
9.5.3 the [**] of Combination Product and Licensed Product;)
9.5.4 the [**]; and
9.5.5 the [**] used.
9.6 If no sale of Combination Product or Licensed Product has been made during any reporting period, a statement to this effect is required.
PROGRESS AND ROYALTY REPORTS. 7.1 Beginning June 1, 1999 and *** thereafter, Digirad shall submit to Berkeley Lab a progress report covering Digirad's activities related to the development and testing of all Licensed Products and the obtaining of the governmental approvals necessary for marketing. Digirad shall make these progress reports for each Licensed Product until the first commercial sale of that Licensed Product occurs anywhere in the world.
7.2 The progress reports Digirad submits under Section 7.1 must include, but not be limited to, the following topics:
7.2.1 summary of work completed related to the requirements of Section 6.4;
7.2.2 key scientific discoveries;
7.2.3 summary of work in progress;
7.2.4 current schedule of anticipated milestones;
7.2.5 market plans for introduction of Licensed Products; and
7.2.6 number of full-time equivalent (FTEs) employees or agents working on the development of Licensed Products.
7.3 Digirad shall also report to Berkeley Lab in its immediately subsequent royalty report on the date of first commercial sale of each Licensed Product in the U.S. and in each other country.
7.4 After the first commercial sale of a Licensed Product anywhere in the world, Digirad shall make *** royalty reports to Berkeley Lab on or *** *** Each royalty report must cover the most recently completed *** and must show:
7.4.1 the Selling Price of each type of Licensed Product sold by Digirad;
7.4.2 the number of each type of Licensed Product sold;
7.4.3 the royalties, in U.S. dollars, payable under this Agreement on those sales;
7.4.4 the exchange rates used in calculating the royalty due;
7.4.5 the royalties on government sales that otherwise would have been due under Section 5.10; and
7.4.6 for each sublicense, if any: *** Portions of this page have been omitted pursuant to a request for Confidential Treatment and filed separately with the Commission. 7 of 17 L-99-1261
7.4.6.1 the sublicensee;
7.4.6.2 the number, description, and aggregate Selling Prices of Licensed Products that the sublicensee sold or otherwise disposed of;
7.4.6.3 the exchange rates used in calculating the royalties due Berkeley Lab from the sublicensee's sales.
7.5 If no sales of Licensed Products have been made during any reporting period, Digirad shall make a statement to this effect.
PROGRESS AND ROYALTY REPORTS. 10.1 Commencing on July 1, 1994, IntraBiotics shall submit to The Regents semi-annual progress response covering IntraBiotics' activities related to the development and testing of all Licensed Products and the obtaining of the governmental approvals necessary for marketing. These progress reports shall be made for each Licensed Product until the First [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. Commercial Sale and shall be marked confidential and maintained confidentially in accordance with Article 3.
10.2 IntraBiotics also agrees to report to The Regents in its immediately subsequent progress and royalty report the date of First Commercial Sale.
10.3 After the First Commercial Sale of a Licensed Product, IntraBiotics will make quarterly royalty reports to The Regents on or before each [ * ] of each year (i.e., within [ * ] from the end of each calendar quarter). Each such royalty report will cover IntraBiotics' most recently completed calendar quarter and will show: (a) the [ * ] of Licensed Products sold by IntraBiotics during the most recently completed calendar quarter, (b) the number of each type of Licensed Product sold; and (c) the royalties payable hereunder with respect to such.
PROGRESS AND ROYALTY REPORTS. If this Agreement terminates for any reason, Berkeley Lab, at its sole discretion, shall determine whether HeartLab must cancel or assign to Berkeley Lab any or all sublicenses.
PROGRESS AND ROYALTY REPORTS. 9.1 Beginning February 28, 2002 and semi-annually thereafter, the Licensee shall submit to The Regents a progress report covering the Licensee’s (and any Affiliate or Sublicensee’s) activities regarding the development and testing of all Licensed Products and the obtaining of any governmental approvals necessary for marketing. Progress reports are required until the first Commercial Sale of the first Licensed Product occurs in the United States, at which time the Licensee may discontinue such reports; provided that such reports may again be required by The Regents if Commercial Sales of such Licensed Product are suspended or discontinued.
9.2 Progress reports submitted under Paragraph 9.1 shall include, but are not limited to, the following topics, as they specifically refer to Licensed Products: • summary of work completed • key scientific discoveries • summary of work in progress • current schedule of anticipated events or milestones • market plans for introduction of Licensed Products, and • a summary of resources (dollar value) spent in the reporting period.
9.3 The Licensee has a continuing obligation to keep The Regents’ informed of the large/small business entity status (as defined by the United States Patent and Trademark Office) of itself and its Sublicensees and Affiliates.
9.4 The Licensee shall report to The Regents the date of first Commercial Sale of a Licensed Product in each country in its immediately subsequent royalty report (as described below).
PROGRESS AND ROYALTY REPORTS. 6.1 Until the first commercial sale of a Licensed Product, LICENSEE will submit to THE REGENTS a semi-annual progress report covering LICENSEE activities in meeting the performance obligations set forth in Article 5 and Exhibit B of this Agreement. The report will include at a minimum the following information: License Number Name of Licensee Date of Report Reporting period Description of Licensed Products or Licensed Methods Status of Commercialization Milestones The report will be due to THE REGENTS on August 31 of each calendar year for the period January through June of that year and on February 28 of each calendar year for the period July through December of the preceding calendar year. The first report will be due August 31, 1997 for commercialization activities during the period January 1, 1997 through June 30, 1997.
6.2 LICENSEE will report to THE REGENTS the first commercial sale of each type of Licensed Product, and the first commercial use of Licensed Methods, in the U.S. and in each country outside the U.S. Such report will include at a minimum, the following information. License Number Name of Licensee Date of Report Date of First Commercial Sale/Lease/Use Place of First Commercial Sale/Lease/Use Description of Licensed Product(s)/Method(s) sold/leased/used
6.3 After the first commercial sale of a Licensed Product anywhere in the world, LICENSEE will submit semi-annual written royalty reports to THE REGENTS on August 31 of each calendar year for the period January through June of that year and on February 28 of each calendar year for the period July through December of the preceding calendar year. The royalty report will include at a minimum the following information: License Number Name of Licensee Date of Report Reporting period Company's fiscal year Earned royalties or minimum royalties Domestic sales: Description of Licensed Product(s)/Method(s) Unit price of Licensed Product(s)/Method(s) (sale, lease, and/or use) Units of Licensed Product(s)/Method(s) sold in US Units of Licensed Product(s)/Method(s) leased in US Gross sales in US Net Sales in US Royalties due THE REGENTS in $US Foreign sales: Country of sales Description of Licensed Product(s)/Method(s) Unit price of Licensed Product(s)/Method(s) (sale, lease, and/or use) Units of Licensed Product(s)/Method(s) sold in each country Units of Licensed Product(s)/Method(s) leased in each country Gross sales in each country Net Sales in each country Monetary exchange rate Royalties due THE RE...
PROGRESS AND ROYALTY REPORTS. Beginning on September 30, 2022, and continuing semiannually thereafter, Licensee will complete the progress report form attached to this Agreement as Appendix C. Beginning with the First Commercial Sale and continuing for the life of this Agreement, Licensee will make quarterly royalty reports and pay such amounts to The Regents within thirty (30) days of February 28, May 31, August 31 and November 30 of each year. Each royalty report will cover Licensee’s most recently completed calendar quarter and will contain at least the information identified in the Royalty Report attached hereto as Appendix D.