Common use of Transparency Reporting Clause in Contracts

Transparency Reporting. Each Party shall be responsible for reporting payments and other transfers of value made to health care professionals, including, without limitation, investigators, steering committee members, data monitoring committee members, and consultants in connection with the Study in accordance with reporting requirements under Applicable Law, including, without limitation, the Physician Payment Sunshine Act and state gift laws, and the European Federation of Pharmaceutical Industries and Associations Disclosure Code, and such Party’s applicable policies; provided, however, if Company will not be required to make a transparency report under Applicable Law for any annual reporting period thereunder, Company shall notify Merck in writing of such status within [*****] calendar days after the commencement of such reporting period, and during such reporting period the Company shall track and provide to Merck data regarding “indirect” payments or other transfers of value by Company to such health care professionals to the extent such payments or other transfers of value were required, instructed, directed or otherwise caused by Merck pursuant to this Agreement. The data will be in a format requested by Merck and provided on a basis to be agreed upon by both Parties. Company represents and warrants that the information so provided will be complete and accurate to the best of its knowledge.