Chargeback Reconciliation Payment Sample Clauses
The Chargeback Reconciliation Payment clause defines the process and obligations for settling financial discrepancies resulting from chargebacks between parties. Typically, this clause outlines how disputed transactions are identified, the timeframe for investigation, and the method for calculating and remitting any amounts owed due to chargebacks. Its core function is to ensure that both parties have a clear, agreed-upon mechanism for resolving chargeback-related financial adjustments, thereby minimizing disputes and ensuring accurate financial reconciliation.
Chargeback Reconciliation Payment. Distributor will submit chargeback data in accordance with Exhibits A and C for reconciliation and reimbursement by MDCO. Distributor will submit invoices for chargebacks on a monthly basis, and MDCO will pay such invoices in full within 45 days of the date an invoice is received. With respect to sales of Product under MDCO Contracts, Distributor shall submit invoices to MDCO, and MDCO shall pay such invoices, equal to the difference between (a) the current WAC at the time of the sale under the applicable MDCO Contract, and (b) the sale price under the applicable MDCO Contract. Similarly, MDCO may request Distributor, from time to time, to issue credits related to certain patient discounts, in which case Distributor shall submit invoices to MDCO for payment of the discounted amount, and MDCO shall pay such invoices, in the same manner as invoices are submitted and paid with respect to MDCO Contracts. Terms of payment for chargeback obligations are net 45 days. MDCO will be liable for late fees equal to [**]% per month (or any portion thereof) on all amounts not paid within 45 days of the date of billing, except for any portion of any b▇▇▇ that is the subject of any dispute raised by MDCO in good faith. If any dispute is resolved in favor of Distributor, MDCO will pay the applicable late fee on such amount from the original due date.
Chargeback Reconciliation Payment. Distributor will submit chargeback data in accordance with Exhibits A and C for reconciliation and reimbursement by TMC. Distributor will submit invoices for chargebacks on a monthly basis, and TMC will pay such invoices in full within thirty (30) days of the date an invoice is received. With respect to sales of Product under TMC Contracts, Distributor shall submit invoices to TMC, and TMC shall pay such invoices, equal to the difference between (a) the current WAC at the time of the sale under the applicable TMC Contract, and (b) the sales price under the applicable TMC Contract. Similarly, TMC may request Distributor, from time to time, to issue credits related to certain patient discounts, in which case Distributor shall submit invoices to TMC for payment of the discounted amount, and TMC shall pay such invoices, in the same manner as invoices are submitted and paid with respect to TMC Contracts. Terms of payment for the foregoing obligations are net 30 days. TMC will be liable for late fees equal to 1.5% per month (or any portion thereof) on all amounts not paid within thirty (30) days of the date of billing, except for any portion of any ▇▇▇▇ that is the subject of any dispute raised by TMC in good faith. If any dispute is resolved in favor of Distributor, TMC will pay the applicable late fee on such amount from the original due date.