Common use of PROGRESS AND ROYALTY REPORTS Clause in Contracts

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.