Common use of Audit Executive Summary and Payments Clause in Contracts

Audit Executive Summary and Payments. Upon completion of the audit, Vendor will be notified in writing of the results (an “Executive Summary”). If no response to the Executive Summary is received from Vendor within thirty (30) days following its issuance, the Executive Summary shall be deemed accepted by Vendor, and HealthTrust will issue an invoice to Vendor for any amounts due. Vendor shall pay HealthTrust for proper application and allocation, the amount of any overcharges and unapplied credits (as to Purchasers) and underpayments (as to HealthTrust) determined by the audit within thirty (30) days from receipt of an invoice from HealthTrust; Vendor shall not use the overcharges or underpayments as a set-off in any fashion. Payment by Purchasers of negotiated prices for Products that are less than those listed in Exhibit A shall not be considered to be undercharges and shall not be applied to reduce the amount of any overcharges by Vendor. The unpaid amount of any overcharges or underpayments shall be subject to a late payment fee as stated in Section 3.5 (Late Fees). If the result of the audit is that Vendor has overpaid GPO Fees to HealthTrust, such overpayment may be used as a credit against future GPO Fees payable by Vendor to HealthTrust.

Audit Executive Summary and Payments. Upon completion of the audit, Vendor will be notified in writing of the results (an “Executive Summary”). If no response to the Executive Summary is received from Vendor within thirty (30) days following its issuance, the Executive Summary shall be deemed accepted by Vendor, and HealthTrust HPG will issue an invoice to Vendor for any amounts due. Vendor shall pay HealthTrust HPG for proper application and allocation, the amount of any overcharges and unapplied credits (as to Purchasers) and underpayments (as to HealthTrustHPG) determined by the audit within thirty (30) days from receipt of an invoice from HealthTrustHPG; Vendor shall not use the overcharges or underpayments as a set-off in any fashion. Payment by Purchasers of mutually negotiated prices for Products that are less than those listed in Exhibit A shall not be * Confidential treatment has been requested with respect to certain portions of this exhibit. Omitted portions have been filed separately with the Securities and Exchange Commission. considered to be undercharges and shall not be applied to reduce the amount of any overcharges by Vendor. The unpaid amount of any overcharges or underpayments shall be subject to a late payment fee as stated in Section 3.5 (Late Fees)3.5. If the result of the audit is that Vendor has overpaid GPO Fees to HealthTrustHPG, such overpayment may be used as a credit against future GPO Fees payable by Vendor to HealthTrustHPG.