Common use of Cost of Audit Clause in Contracts

Cost of Audit. PROGENICS shall bear the full cost of the performance of any such audit except as hereinafter set forth. If, as a result of any inspection of the books and records of BMS, its Affiliates or its Sub-sublicensees, it is shown that BMS's payments under this Agreement were less than the amount which should have been paid, then BMS shall make all payments required to be made to eliminate any discrepancy revealed by said inspection within 30 days after PROGENICS's demand therefor, plus interest at the prime rate from the date payment should have been made. Furthermore, if the payments were less than the amount which should have been paid by an amount in excess of five percent of the payments actually made during the period in question, BMS shall also reimburse PROGENICS for the costs of such audit in addition to the payment required to be made to eliminate any discrepancy.

Cost of Audit. PROGENICS shall bear the full cost of the performance of any such audit except as hereinafter hereinafter; set forth. If, as a result of any inspection of the books and records of BMS, its Affiliates or its Sub-sublicensees, it is shown that BMS's payments under this Agreement were less than the amount which should have been paid, then BMS shall make all payments required to be made to eliminate any discrepancy revealed by said inspection within 30 days after PROGENICS's demand therefor, plus interest at the prime rate from the date payment should have been made. Furthermore, if the payments were less than the amount which should have been paid by an amount in excess of five percent of the payments actually made during the period in question, BMS shall also reimburse PROGENICS for the costs of such audit in addition to the payment required to be made to eliminate any discrepancy.