Common use of Timing; Reporting Clause in Contracts

Timing; Reporting. After the Closing Date, Buyer shall track accumulated Product Revenue at the end of each fiscal quarter of Buyer to determine progress toward achievement of the Base Product Revenue and to determine on an interim basis the amount of the Contingency Consideration earned by Sellers. Buyer shall calculate and pay to Sellers the Contingency Consideration, if any, on an annual basis, beginning on the third anniversary of the Closing Date. Buyer shall pay the Contingency Consideration to Sellers based on their Percent of Stock Ownership indicated in Schedule 1.2. The annual payments of the Contingency Consideration shall be made by Buyer within 90 days after the end of each annual period and the determination of the Contingency Consideration. Along with each annual payment, Buyer shall provide each Seller a report setting forth in reasonable detail its computation of Product Revenue (the "Report"). Additionally, after the earlier of (i) the end of the Earn Out Period, or (ii) the time when the aggregate Contingency Consideration paid equals the Maximum Earn Out Amount (as defined below in Section 1.2.4(f)), a final cumulative Report shall be prepared by Buyer and provided to each Seller.