Final Accounting and Payment. Final payment hereunder will be expressly conditioned upon receipt by Sponsor of any and all required data or other information from Institution and Investigator in a timely manner and as required by this Agreement and the Protocol, in a form satisfactory to Sponsor. The final payment will be processed before Sponsor’s close-out visit to Institution/Investigator, when all (original paper and electronic) case report forms (“CRFs/eCRFs”) have been completed and logged for all Trial Participants enrolled/entered at Institution/Investigator, all queries to Institution/Investigator have been resolved, and Institution’s/Investigator’s data, including the Trial data accountability log, has been reviewed and accepted by the Sponsor clinical monitor. The final payment will include any remaining approved interim Trial Participant visit fees and/or any remaining approved invoiceable items noted on the Payment Schedule.
Final Accounting and Payment. Within 45 days of the end of the month in which the closing occurs, NSC shall do and communicate via email to OPP a final accounting of the JV division within NSC (“Final Accounting’). Opus will have a 30 day period from receipt the Final Accounting to review the books and records and the financial results. NSC will make back-up documentation available if requested and make staff available to accommodate an on-site visit to review applicable books and records. Using the methodology preferred by Xxxxxxx Xxxxx [(see Tab 2 of the attached XL, Column E, Lines 18-35)], amounts due and owing from the JV to NSC for the months in which the JV incurred a loss shall be netted against the amounts NSC would owe OPP for its 50% share of the net income for the months in which the JV was profitable (adjusted for any amounts previously paid to OPP from NSC and adjusted for any NSC retail “bonus” commissions funded by OPP). Any net difference shall either be paid by the JV to NSC or NSC to the JV, as the case may be. Failure to pay by either party shall be deemed a breach of this Agreement by the party required to pay. Alternatively, at OPP’s option in order to avoid any risk of a deemed breach by OPP, a GAAP methodology can be used to determine such net difference [(see Tab 2 of the attached XL, Column C, Lines 18-35)] and OPP can elect to be owed $15,000 as full and final payment through March 31, 2012 If such alternative GAAP is utilized, the JV would not owe NSC or NHLD any further amount through March 31, 2012. For the sake of clarity, following the Final Accounting by NSC and review by OPP as described above, OPP shall be paid $15,000 or the amount determined to be owed by/due to OPP as calculated above, whichever is greater. The parties acknowledge that this alternative option is contingent on the NSC receiving the $150,000 advisory fee from Manhattan Pharmaceuticals due and owing NSC arising from the activities of the JV through NSC.
Final Accounting and Payment. Final payment hereunder will be
Final Accounting and Payment. Final payment hereunder will be expressly conditioned upon receipt by Sponsor of any and all required data or other 2.4.3
