Common use of Resolution of Dispute as to Audit Clause in Contracts

Resolution of Dispute as to Audit. In the event that the parties do not agree on the amount of overpayment or underpayment, within thirty (30) days, each party shall select an independent public accounting firm (and each party shall pay the costs of its own accounting firm), which shall meet and discuss the amount in dispute and other related matters within thirty (30) days thereafter. If such independent public accounting firms cannot agree on a resolution mutually agreeable to the parties, such independent public accounting firms shall, within thirty (30) days after such selection, appoint a third independent public accounting firm which shall resolve the issue within thirty (30) days after its selection, and the parties shall equally share the costs of such accounting firm. The recommendation of the third independent public accounting firm shall be final and binding upon the parties. A judgment on such firm’s disposition may be entered in any court having jurisdiction over the parties. Notwithstanding anything to the contrary herein, the resolution of any dispute under this Section XXV shall be made under this subsection (c) instead and in lieu of Section XVI. The preceding sentence shall not preclude the application of Section XVI to any contract interpretation issue (as compared to an accounting issue which would be precluded from determination under Section XVI).

Appears in 1 contract

Samples: Endo Pharmaceuticals Holdings Inc

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Resolution of Dispute as to Audit. In Notwithstanding anything in Section 5.7 to the contrary, in the event that the parties Parties do not agree within thirty (30) days on the amount of overpayment or underpayment, within thirty (30) daysunderpayment revealed by the audit examination report, each party Party shall select an independent public accounting firm (and each party Party shall pay the costs of its own accounting firm), which shall meet and discuss the amount in dispute and other related matters within thirty (30) days thereafter. If such independent public accounting firms cannot agree on a resolution mutually agreeable to the partiesParties, such independent public accounting firms shall, within thirty (30) days after such selection, appoint a third independent public accounting firm which shall resolve the issue within thirty (30) days after its selection, and the parties Parties shall equally share the costs of such accounting firm. The recommendation of the third independent public accounting firm shall be final and binding upon the partiesParties. A judgment on such firm’s disposition may be entered in any court having jurisdiction over the partiesParties. Notwithstanding anything to the contrary herein, the resolution of any dispute under this Section XXV 5.8 shall be made under this subsection (c) Section 5.8 instead and in lieu of Section XVI12.13. The preceding sentence shall not preclude the application of Section XVI 12.13 to any contract interpretation issue (as compared to an accounting issue which would be precluded from determination under Section XVI12.13).

Appears in 1 contract

Samples: License Agreement (Epicept Corp)

Resolution of Dispute as to Audit. In the event that the parties Parties do not agree on the amount of overpayment or underpayment, within thirty (30) days, each party Party shall select an independent public accounting firm (and each party Party shall pay the costs of its own accounting firm), which shall meet and discuss the amount in dispute and other related matters within thirty (30) days thereafter. If such independent public accounting firms cannot agree on a resolution mutually agreeable to the partiesParties, such independent public accounting firms shall, within thirty (30) days after such selection, appoint a third independent public accounting firm which shall resolve the issue within thirty (30) days after its selection, and the parties Parties shall equally share the costs of such accounting firm. The recommendation of the third independent public accounting firm shall be final and binding upon the partiesParties. A judgment on such firm’s disposition may be entered in any court having jurisdiction over the partiesParties. Notwithstanding anything to the contrary herein, the resolution of any dispute under this Section XXV 7.8 shall be made under this subsection (cSection 7.8(d) instead and in lieu of Section XVI15.11. The preceding sentence shall not preclude the application of Section XVI 15.11 to any contract interpretation issue (as compared to an accounting issue which would be precluded from determination under Section XVI15.11).

Appears in 1 contract

Samples: License and Supply Agreement (Aytu Bioscience, Inc)

Resolution of Dispute as to Audit. In Notwithstanding anything in Section 5.7 to the contrary, in the event that the parties Parties do not agree within thirty (30) days on the amount of overpayment or underpayment, within thirty (30) daysunderpayment revealed by the audit examination report, each party Party shall select an independent public accounting firm (and each party Party shall pay the costs of its own accounting firm), which shall meet and discuss the amount in dispute and other related matters within thirty (30) days thereafter. If such independent public accounting firms cannot agree on a resolution mutually agreeable to the partiesParties, such independent public accounting firms shall, within thirty (30) days after such selection, appoint a third independent public accounting firm which shall resolve the issue within thirty (30) days after its selection, and the parties Parties shall equally share the costs of such accounting firm. The recommendation of the third independent public accounting firm shall be final and binding upon the partiesParties. A judgment on such firm’s disposition may be entered in any court having jurisdiction over the partiesParties. Notwithstanding anything to the contrary herein, the resolution of any dispute under this Section XXV 5.8 shall be made under this subsection (c) Section 5.8 instead and in lieu of Section XVI12.13. The preceding sentence shall not preclude the application of Section XVI 12.13 to any contract interpretation issue (as compared to an accounting issue which would be precluded from determination under Section XVI12.13). * * * Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidentiality has been requested with respect to the omitted portions.

Appears in 1 contract

Samples: License Agreement (Durect Corp)

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Resolution of Dispute as to Audit. In Notwithstanding anything in Section 6.5 to the contrary, in the event that the parties Parties do not agree on the amount of overpayment or underpayment, underpayment within thirty (30) [***] days, each party Party shall select an independent public accounting firm (and each party Party shall pay the costs of its own accounting firm), which shall meet and discuss the amount in dispute and other related matters within thirty (30) [***] days thereafter. If such independent public accounting firms cannot agree on a resolution mutually agreeable to the partiesParties, such independent public accounting firms shall, within thirty (30) [***] days after such selection, appoint a third independent public accounting firm which shall resolve the issue within thirty (30) [***] days after its selection, and the parties Parties shall equally share the costs of such accounting firm. The recommendation of the third independent public accounting firm shall be final and binding upon the partiesParties. A judgment on such firm’s disposition may be entered in any court having jurisdiction over the partiesParties. Notwithstanding anything to the contrary herein, the resolution of any dispute under this Section XXV 6.6 shall be made under this subsection (c) Section 6.6 instead and in lieu of Section XVI13.13. The preceding sentence shall not preclude the application of Section XVI 13.13 to any contract interpretation issue (as compared to an accounting issue which would be precluded from determination under Section XVI13.13).

Appears in 1 contract

Samples: License Agreement (Durect Corp)

Resolution of Dispute as to Audit. In the event that the parties Parties do not agree on the amount of overpayment or underpayment, within thirty (30) days, each party Party shall select an independent public accounting firm (and each party Party shall pay the costs of its own accounting firm), which shall meet and discuss the amount in dispute and other related matters within thirty (30) days thereafter. If such independent public accounting firms cannot agree on a resolution mutually agreeable to the partiesParties, such independent public accounting firms shall, within thirty (30) days after such selection, appoint a third independent public accounting firm which shall resolve the issue within thirty (30) days after its selection, and the parties Parties shall equally share the costs of such accounting firm. The recommendation of the third independent public accounting firm shall be final and binding upon the partiesParties. A judgment on such firm’s disposition may be entered in any court having jurisdiction over the partiesParties. Notwithstanding [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. anything to the contrary herein, the resolution of any dispute under this Section XXV 7.9 shall be made under this subsection (c7.9(d) instead and in lieu of Section XVI15.11. The preceding sentence shall not preclude the application of Section XVI 15.11 to any contract interpretation issue (as compared to an accounting issue which would be precluded from determination under Section XVI15.11).

Appears in 1 contract

Samples: License, Development and Supply Agreement (Alexza Pharmaceuticals Inc.)

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