Common use of Reporting of Net Sales Clause in Contracts

Reporting of Net Sales. After first Marketing Approval of the Collaboration Product in the Field in the Territory, and for the remainder of the Royalty Term, QLT shall submit to RGX, concurrently with the quarterly payments made pursuant to Section 5.3, written reports setting out for the calendar quarter, for each Collaboration Product, on a country-by-country basis (where reasonably feasible): (a) all amounts invoiced by QLT or its Affiliates or sublicensees, as applicable, from the sale of the Collaboration Product to Third Parties; (b) details of the quantities of the Collaboration Product sold in each country; (c) the amount of any deductions taken from the amounts received by QLT or its Affiliates or sublicensees, as applicable, from the sale of the Collaboration Product to Third Parties in calculating Net Sales of the Collaboration Product and their methods of calculation, and (d) the amount of Net Sales of the Collaboration Product; and (e) the amount due and payable pursuant to Section 5.3. In the event that RGX is required to pay to QLT a royalty pursuant to Section 11.4(a), RGX shall provide reports in the form and on the terms specified in this Section 5.10 in respect of sales of the Collaboration Products by RGX, its Affiliates or licensees/sublicensees.

Reporting of Net Sales. After first Marketing Approval of the Collaboration Product in the Field in the Territory, and for the remainder of the Royalty Term, QLT shall submit to RGX, concurrently with the quarterly payments made pursuant to Section 5.3, written reports setting out for the calendar quarter, for each Collaboration Product, on a country-by-country basis (where reasonably feasible): ): (a) all amounts invoiced by QLT or its Affiliates or sublicensees, as applicable, from the sale of the Collaboration Product to Third Parties; ; (b) details of the quantities of the Collaboration Product sold in each country; ; (c) the amount of any deductions taken from the amounts received by QLT or its Affiliates or sublicensees, as applicable, from the sale of the Collaboration Product to Third Parties in calculating Net Sales of the Collaboration Product and their methods of calculation, and and (d) the amount of Net Sales of the Collaboration Product; and and (e) the amount due and payable pursuant to Section 5.3. In the event that RGX is required to pay to QLT a royalty pursuant to Section 11.4(a), RGX shall provide reports in the form and on the terms specified in this Section 5.10 in respect of sales of the Collaboration Products by RGX, its Affiliates or licensees/sublicensees.