Over-or Underpayment. If the audit reveals an overpayment, the auditing Party shall reimburse the audited Party for the amount of the overpayment within thirty (30) days. If the audit reveals an underpayment, the audited Party shall make up such underpayment with the next royalty payment or, if no further royalty payments are owed to the auditing Party, the audited Party shall reimburse the auditing Party for the amount of the underpayment within thirty (30) days. The audited Party shall pay for the audit costs if the underpayment of the audited Party exceeds five percent (5%) of the aggregate amount of payments owed with regard to the invoices or statements subject of the audit. Section 7.4 shall apply to amounts payable under this Section 9.3.
Appears in 2 contracts
Samples: License Agreement, License Agreement (Inovio Pharmaceuticals, Inc.)
Over-or Underpayment. If the audit reveals an overpayment, the auditing Party shall reimburse the audited Party for the amount of the overpayment within thirty (30) days. If the audit reveals an underpayment, the audited Party shall make up such underpayment with the next royalty payment or, if no further royalty payments are owed to by the auditing audited Party, then the audited Party shall reimburse the auditing Party for the amount of the underpayment within thirty (30) days. The audited auditing Party shall pay for the audit costs if the underpayment of the audited Party exceeds five percent (5%) […***…] of the aggregate amount of payments owed with regard to the invoices or statements subject of to the audit. Section 7.4 13.2 shall apply to amounts payable under this Section 9.315.3.
Appears in 2 contracts
Samples: Collaboration and License Agreement (Blueprint Medicines Corp), Collaboration and License Agreement (Blueprint Medicines Corp)
Over-or Underpayment. If the audit reveals an overpayment, the auditing Party shall reimburse the audited Party for the amount of the overpayment within thirty (30) days. If the audit reveals an underpayment, the audited Party shall make up such underpayment with the next royalty payment or, if no further royalty payments are owed to by the auditing audited Party, then the audited Party shall reimburse the auditing Party for the amount of the underpayment within thirty (30) days. The audited auditing Party shall pay for the audit costs if the underpayment of the audited Party exceeds five percent (5%) […***…] of the aggregate amount of payments owed with regard to the invoices or statements subject of to the audit. Section 7.4 13.2 shall apply to amounts payable under this Section 9.3.15.3.
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