Common use of Underpayment Clause in Contracts

Underpayment. If an audit reveals that you have underpaid us during the period subject to the audit, then following the issuance of our invoice, you will promptly pay us (not to exceed 15 days after the date of the invoice), for the underpaid amounts owed, in addition to any amounts owed hereunder for late payment. If the underpaid fees exceed five percent (5%) of the fees paid by you for the Services during any consecutive 12-month period within the time period subject to the audit, then you will also pay the reasonable costs of conducting the audit.

Appears in 8 contracts

Samples: Master Services Agreement, Master Services Agreement, Master Services Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!