Common use of Payment of Deficiency/Overpayments Clause in Contracts

Payment of Deficiency/Overpayments. (a) If any audit conducted in accordance with Section 5.3.1 establishes that a Party or any of its Affiliates underpaid any amounts due to the other Party or any of its Affiliates under this Agreement, such Party shall pay such other Party any such deficiency within thirty (30) days of written notice thereof. For the avoidance of doubt, such payment shall be considered a late payment, subject to Section 5.2.

Appears in 2 contracts

Samples: Patent And (Zoetis Inc.), Patent And (Zoetis Inc.)

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Payment of Deficiency/Overpayments. (a) If any audit conducted in accordance with Section 5.3.1 9.9.1 establishes that a Party or any of its Affiliates underpaid any amounts due to the other Party or any of its Affiliates under this Agreement, such the underpaying Party shall pay such the other Party any such deficiency within thirty (30) days of written notice thereof. For the avoidance of doubt, such payment shall be considered a late payment, subject to Section 5.29.7.

Appears in 2 contracts

Samples: Research and Development Collaboration and License Agreement (Zoetis Inc.), Collaboration and License Agreement (Zoetis Inc.)

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