Common use of Timing and Method of Payment Clause in Contracts

Timing and Method of Payment. Commencing with the first commercial sale of Products hereunder, on or before [***] following the end of each calendar month, Licensee shall provide to LFB USA written accounts of the Net Sales of AAT Products subject to royalty hereunder made during the prior calendar month and prior calendar quarter, as the case may be, and at the end of each calendar quarter shall pay to LFB USA the royalties due (as calculated above) on such Net Sales of AAT Products within [***]. Except as otherwise provided in this Agreement, LFB USA shall provide Licensee with an invoice for any other payments due under this Agreement and Licensee shall make all payments that are due within [***] after receipt of such invoice.