Reconciliation and Payment. Within sixty (60) days following expiration or the effective date of termination of this Agreement, Owner and Manager will reconcile amounts due under this Agreement and payment will be made immediately. Any amounts not determinable at that time will be reconciled as soon as feasible thereafter.
Reconciliation and Payment. The party who completes the sale, license or other distribution of a Jointly Developed Product shall be responsible for billing and collection of the royalty, license fees or other payments from the end-user. Regardless of which party completes the sale, license or other distribution of a SRIC PEP Product or ICARUS Product, the party whose product it is shall be responsible for billing and collection of the royalty or other payments from the end-user. Sales and license agreements will be reviewed quarterly (January 31, April 30, July 31, and October 31) by ICARUS' Director of Sales and SRIC's PEP Program Director for accuracy of claims. Each party will provide a calculation of the marketing fees and other amounts due the other party hereunder on a quarterly basis (January 31, April 30, July 31, October 31) and pay the calculated amount due within 30 days of the quarter end. Except as to manifest errors brought to the attention of the other party within thirty (30) days after its rendition, each such calculation shall be final and conclusive as to each party, as to the items therein set forth (but not as to any omissions). Any amounts not paid when due shall incur interest at the rate of eighteen percent (18%) per annum (or the maximum rate permitted by law, whichever is less).
Reconciliation and Payment. (a) If either Party has any questions or concerns regarding the Development Costs in a Development Costs Report provided pursuant to Section 11.4.1 (Reports; Reconciliation Payments) or the calculation of Allowable Expenses, Net Sales or Other Income reported by the other Party in a Pre-Tax Profit or Loss Report provided pursuant to Section 11.5.2 (Reporting Generally), as applicable, the Financial Working Group shall endeavor to resolve such questions and concerns of either Party within [**] following the end of the applicable Calendar Quarter. Additionally, the Financial Working Group may by mutual agreement adjust the timing for notification or payment of any reconciliation payments hereunder.
(b) Unless such timing is otherwise modified by the Financial Working Group, within [**] following receipt of each Party’s Development Costs Report provided pursuant to Section 11.4.1 (Reports; Reconciliation Payments) or Pre-Tax Profit or Loss Report provided pursuant to Section 11.5.2 (Reporting Generally), as applicable, the Financial Working Group shall confer and agree in writing on a -98- reconciliation report setting out the calculation of any payment to be paid by Xxxxxxx to GSK or by GSK to Mersana (each, as the case may be, a “Balancing Payment”) in order to effect the sharing of Development Costs in accordance Section 11.4 (Sharing of Development Costs) or the sharing of Pre-Tax Profit or Loss in accordance with Section 11.5 (Pre-Tax Profit or Loss), as applicable. Within [**] following receipt of such report from the Financial Working Group, each Party that is owed a Balancing Payment shall invoice the other Party for the amount of such Balancing Payment due in accordance with Section 11.9.2 (Invoicing) and the other Party shall pay such invoiced amount within [**] following receipt of such invoice; provided that, in the event of any dispute regarding the Balancing Payment due, the undisputed portion of such Balancing Payment shall be paid in accordance with the foregoing timetable by the applicable Party, and the remaining, disputed portion shall be paid in accordance with Section 11.14 (Financial Disputes) or Article 18 (Dispute Resolution), as applicable.
(c) Each Party shall notify the other Party promptly after becoming aware that the anticipated Allowable Expenses (including any Manufacturing Costs included in such Allowable Expenses) to be incurred by such Party for a Licensed Product for a given Calendar Year in the Shared Territory shall be in...
Reconciliation and Payment. Party A shall carry out the reconciliation of the books with Party B within ten (10) days after the end of each calendar month. Party A shall provide Party B with a settlement statement indicating the monthly flow amount, Party B’s income from the performances, penalty or extra bonuses. After the written confirmation and issuance of a qualified invoice by Party B, Party A will remit Party B’s income from the performance of services in USD to a bank account designated by Party B. Party A shall only pay the income from the performance of services agreed in this Agreement and Attachment 1 to Party B. Party B shall be liable for the expense settlement and payment between them which are unrelated to Party A. Party A will be deemed to have performed its obligation under this Agreement after remittance of income to Party B’s account.
Reconciliation and Payment. PBM shall reconcile the pricing guarantees described this Exhibit D (Retail Pharmacy Network, Mail Order Pharmacy Network and Specialty Pharmacy Network Prescription Drug Claims Pricing) on an annual basis. Within ninety (90) days after the Measurement Period, the reconciliation for each year of the Measurement Period (which shall mean the period of time PBM’s performance is measured, that may be the same as or differ from the period of time equal to the Term) will be submitted to Client and any resulting value shortfall shall be paid by PBM to Client following submission of the reconciliation report.
Reconciliation and Payment. Within [*] days after each Party’s receipt of such report (and any requested supporting documentation), Amgen shall calculate each Party’s share of the total Development Costs, Operating Expenses and the Gross Profit for the applicable [*] Quarter, in each case in accordance with Section 8.2.1 (Cost Sharing and Profit Sharing) and perform one reconciliation of the Development Costs, and a second reconciliation of Operating Expenses and Gross Profit to derive each Party’s Net Operating Profit, and provide to Licensee a written report of each such reconciliation calculation. With respect to each reconciliation calculation, if one Party owes a payment to the other Party, then such owing Party shall make such payment to the other Party within [*] days after delivery of such report to Licensee.
Reconciliation and Payment. An invoice containing usage data and amount due to Phone 1 for each calendar month shall be presented by PHONE 1 to VERIZON by the (15th) calendar day after the close of each calendar month. VERIZON shall promptly complete a review of the invoice and notify PHONE 1 of any discrepancy. All undisputed amounts due shall be remitted to PHONE 1 within 45 calendar days after VERIZON's receipt of the invoice ("ARI "). VERIZON shall use its best efforts to reduce the payment term to t 30 calendar days of ARI after six (6) months of Service. Such payment shall be made by hard copy check or Electronic Funds Transfer to PHONE 1's account. The parties shall promptly review any discrepancies and expeditiously attempt resolution.
Reconciliation and Payment. The language of Section VI.G (Reconciliation and Payment) of the Agreement is deleted and the following language is substituted:
Reconciliation and Payment. The amount or amounts that SHO owes to SHMC in accordance with this Agreement, and the amount or amounts that SHMC owes to SHO in accordance with this Agreement, will be determined by SHMC on a monthly basis, which amounts will be netted against each other. If SHMC owes an amount to SHO after the netting SHMC will remit the amount it owes to SHO within five days of the reconciliation. If SHO owes an amount to SHMC after the netting SHO will remit the amount it owes to SHMC in accordance with the following:
1. SHMC will generally deliver invoices to SHO for all net amounts that SHO owes to SHMC hereunder after the end of each month.
2. From the Amendment Date through July 31, 2016, the payment due date is three days after SHO’s receipt of the invoice (e.g., Friday if the invoice is delivered on Tuesday). If SHO pays such invoice in full by such date, SHO may deduct from each such invoice an early payment discount equal to 37 basis points (i.e., to 0.37%) of the total amount of the invoice (the “Early Payment Discount”). If SHO does not pay such invoice in full by such date, no Early Payment Discount is earned on such invoice.
3. For all Invoices delivered after July 31, 2016 (each a “Post- July 2016 Invoice”), the payment due date is the 10th day following SHO’s receipt of the invoice. No Early Payment Discount is earned on such invoices. If with respect to a Post- July 2016 Invoice SHMC requests in writing that the Early Payment Discount apply to the invoice, SHO in its sole discretion may, but will have no obligation to, agree to pay the invoice on the payment terms set forth in the immediately preceding subsection 2.
4. If the applicable payment date (i.e., the 3rd or 10th day) is a Saturday, Sunday, or bank holiday, SHO will pay on the next banking day, which will become the payment due date. Electronic fund transfers initiated on the payment due date will be timely made for purposes of this Agreement.
Reconciliation and Payment. The credit card carries corporate, not individual liability. Invoices will be paid by Accounts Payable. Employees will not be required to pay the monthly statement using their own funds. It is required that all receipts for goods and services purchased be retained. If goods/services are purchased via phone, mail or online, ask the vendor to include the receipt with the goods when the product is shipped. This receipt is the only original documentation specifying whether tax has been paid against the purchase. Process of reconciliation:
