Common use of Underpayments/Overpayments Clause in Contracts

Underpayments/Overpayments. If such accounting firm correctly concludes that additional royalties were owed during such period, Schering shall pay the additional royalties within [ * ] days of the date Licensor delivers to Schering such accounting firm's written report so correctly concluding. If such underpayment exceeds [ * ] of the royalty correctly due Licensor then the fees charged by such accounting firm for the work associated with the underpayment audit shall be paid by Schering. Any overpayments by Schering will be credited against future royalty obligations. In the event that Schering disagrees with the audit report and the chief financial officers of Schering and Licensor (or their designees) fail to resolve such disagreement, the dispute will be resolved through the dispute resolution mechanism set forth in Section 9.2.

Underpayments/Overpayments. If such accounting firm correctly concludes that additional royalties were owed during such period, Schering shall pay *** This portion has been omitted based on a request for confidential treatment pursuant to Rule 24b-2 of the Exchange Act. The omitted portion has been separately filed with the Commission. the additional royalties within [ * ] thirty (30) days of the date Licensor Zonagen delivers to Schering such accounting firm's written report so correctly concluding. If such underpayment exceeds [ *** ] of the royalty correctly due Licensor Zonagen then the fees charged by such accounting firm for the work associated with the underpayment audit shall be paid by Schering. Any overpayments by Schering will be credited against future royalty obligations. In the event that Schering disagrees with the audit report and the chief financial officers of Schering and Licensor (or their designees) Zonagen fail to resolve such disagreement, the dispute will be resolved through the dispute resolution mechanism set forth in Section 9.214.2.