Common use of Reports and Information Exchange Clause in Contracts

Reports and Information Exchange. RenaGel LLC shall own all data accumulated from all pre-clinical studies and clinical trials of Collaboration Products in the Territory. Each of GelTex and Genzyme shall use commercially reasonable and diligent efforts to disclose to RenaGel LLC and to the other Party all material information relating to any Collaboration Product promptly after it is learned or its materiality is appreciated. The Party performing or supervising clinical trials of Collaboration Products in accordance with the Development Plan shall, on behalf and in the name of RenaGel LLC, maintain the database of clinical trial data accumulated from all clinical trials of Collaboration Products and of adverse reaction information for all such Collaboration Products. Each Party shall keep the Program Management Team informed as to its progress in the Development Plan. Within sixty (60) days following the end of each calendar quarter during the Development Program, each of GelTex and Genzyme shall provide to RenaGel LLC and to the other Party a reasonably detailed written report, which shall describe the progress to date of all activities for which such Party was allocated responsibility during such quarter under the Development Plan.