Provision Language
11. REPORTS
11.1 The Sublicensee shall keep MPP regularly informed of the progress made by the Sublicensee under this Agreement. Within 10 Business Days following the end of each Agreement Quarter, the Sublicensee shall provide MPP with a written quarterly report, in a format to be indicated by MPP, on:
A. all Products in its development pipeline and the status of each Product in development;
B. all Products sold or supplied by the Sublicensee under this Agreement during such Agreement Quarter; and
C. all regulatory activities regarding the Products worldwide in relation to that Agreement Quarter i.e. (a) the regulatory filing status and plan for every Product worldwide, and (b) a list of the countries in which applications for Regulatory Approval have been filed and/or Regulatory Approvals have been obtained for any Product.
11.2 The Parties agree to confer on a quarterly basis regarding such reports. MPP agrees that information contained in quarterly and other such reports shall be treated as Confidential Information.
11.3 At all times the Sublicensee shall keep, and shall require its affiliates and any Third Party manufacturers and Third Parties making sales on its behalf, to keep, complete and accurate records for a period of five (5) years of all quantities of Materials and Products manufactured, sold and/or supplied under the licences granted by this Agreement and such information of the type and in sufficient detail at MPP’s discretion. MPP shall each have the right (and the Sublicensee shall procure such right), through a certified public accountant or like person appointed by it, to examine such records in order to verify the compliance with this Agreement during regular business hours during the term of this Agreement and for six months after its termination or expiry; provided, however, that such examination:
(i) shall be at the expense of the person exercising such right (save where such examination reveals a breach of this Agreement by the Sublicensee, in which case the Sublicensee shall pay for all costs incurred by MPP in carrying out the examination),
(ii) not take place more often than twice in any calendar year and shall not cover such records for more than the preceding two calendar years.