Common use of Cost of Audit Clause in Contracts

Cost of Audit. The Party initiating such audit shall bear the full cost of such audit unless such audit discloses that the actual expenses incurred in the conduct of the other Party’s obligations under the Research Plan or a Development Plan, as applicable, are lower than that reported by such Party by [***] percent ([***]%) or more, in which case the other Party shall reimburse the initiating Party for all costs incurred by the initiating Party in connection with such audit. Furthermore, the amount in excess of the actual expenses shall be deducted from the Shared Costs reported by that Party and reconciled between the Parties.

Cost of Audit. The Party initiating such audit shall bear the full cost of such audit unless such audit discloses that the actual expenses incurred in the conduct of the other a Party’s obligations under the Research Plan or a Joint Development Plan, as applicable, are lower than that reported by such Party by [***[ * ] percent ([***[ * ]%) or more, in which case the other Party shall reimburse the initiating Party for all costs incurred by the initiating Party in connection with such auditaudit up to a maximum amount of $[ * ]. Furthermore, the amount in excess of the actual expenses shall be deducted from the Shared Joint Development Costs reported by that Party and reconciled between the Parties.

Cost of Audit. The Party initiating such audit shall bear the full cost of such audit unless such audit discloses that the actual expenses incurred in the conduct of the other a Party’s obligations under the Research Plan or a Joint Development Plan, as applicable, are lower than that reported by such Party by [***] percent ([***]%) or more, in which case the other Party shall reimburse the initiating Party for all costs incurred by the initiating Party in connection with such auditaudit up to a maximum amount of $[***]. Furthermore, the amount in excess of the actual expenses shall be deducted from the Shared Joint Development Costs reported by that Party and reconciled between the Parties.

Cost of Audit. The Party initiating such the audit (auditing Party) shall bear the full cost costs of such the audit, unless the results of the audit unless such audit discloses show that the actual expenses incurred in other Party (as the conduct of audited Party) has overcharged the other Party’s obligations under the Research Plan or a Development Plan, as applicable, are lower than that reported by such auditing Party by [***] more than ten percent ([***]10.0%) or morein any twelve (12) month period, in which case the other audited Party shall reimburse the initiating auditing Party for all costs incurred by the initiating Party in connection with such full cost of the audit. Furthermore, Any underpayment will be paid to the amount relevant Party upon written notification thereof as part of an Invoice pursuant to the procedures set forth in excess of the actual expenses shall be deducted from the Shared Costs reported by that Party and reconciled between the PartiesSection 4.2.

Cost of Audit. The Party initiating such audit Audit shall bear the full cost of such audit unless such audit discloses that the actual expenses incurred in the conduct of the other a Party’s obligations under the Research Plan or a Development Plan, as applicable, are lower than that reported by such Party by [***] percent ([***]%) or more, in which case the other Party shall reimburse the initiating Party for all costs incurred by the initiating Party in connection with such audit. Furthermore, the amount in excess of the actual expenses shall be deducted from the Shared Costs reported by that Party and reconciled between the Parties[***].

Cost of Audit. The Party initiating such audit shall bear the full cost of such audit unless such audit discloses that the actual expenses incurred in the conduct of the other a Party’s obligations under the Research Plan or a Joint Development Plan, as applicable, are lower than that reported by such Party by [***[ * ] percent ([***[ * ]%) or more, in which case the other Party shall reimburse the initiating Party for all costs incurred by the initiating Party in connection with such auditaudit up to a maximum amount of $[ * ]. Furthermore, the amount in excess of the actual expenses shall be deducted from the Shared Joint Development Costs reported by that Party and reconciled between the Parties.. 5.8