Common use of Over/Underpayment Clause in Contracts

Over/Underpayment. If either party discovers an error in the payment of State Supplemental Rebates, it will notify the other of such error. The parties will attempt to reconcile all differences regarding such payment through discussion and negotiation. Any overpayment will be deducted from subsequent State Supplemental Rebates payable under this Agreement. In the event that no subsequent State Supplemental Rebates are payable, the Department will refund any such overpayment to the Pharmaceutical Manufacturer within thirty (30) days of the parties’ acknowledgement of the overpayment. The Pharmaceutical Manufacturer will remit any underpayment to the Department within thirty (30) days of the parties’ acknowledgement of such underpayment.

Over/Underpayment. If either party discovers an error in the payment of State Supplemental Rebates, it will shall notify the other of such error. The parties will shall attempt to reconcile all differences regarding such payment through discussion and negotiation; if that attempt fails, the parties will resolve their dispute in accordance with generally accepted applicable procedures followed by State or CMS in disputes concerning Medicaid Drug Rebates. Any overpayment will shall be deducted from subsequent State Supplemental Rebates payable under this Agreement. In the event that no subsequent State Supplemental Rebates are payable, the Department State will refund any such overpayment to the Pharmaceutical Manufacturer within thirty (30) days of the parties’ acknowledgement of the overpayment. The Pharmaceutical Manufacturer will remit any underpayment to the Department State within thirty (30) days of the parties’ acknowledgement of such underpayment.