Royalty Statements and Payments. Within [**] days of the end of each Calendar Quarter, Pfizer shall deliver to Spark a report setting forth, for the most recent Pfizer Quarter ending during such Calendar Quarter, the following information, on a Licensed Product-by-Licensed Product, country-by-country, and Territory-wide basis: (a) Net Sales of each Licensed Product, (b) the basis for any adjustments to the royalty payable for the sale of any such Licensed Product and (c) the royalty due hereunder for the sale of each such Licensed Product. No such report shall be due for any Licensed Product (i) before the first Net Sales of such Licensed Product or (ii) after the Royalty Term for such Licensed Product has expired in all countries in the Territory. The total royalty due for the sale of all Licensed Products during a Pfizer Quarter shall be remitted at the same time such report is made.
Appears in 3 contracts
Sources: License Agreement, License Agreement (Spark Therapeutics, Inc.), License Agreement (Spark Therapeutics, Inc.)