Common use of Reporting Payment Clause in Contracts

Reporting Payment. During the Term, within 30 days after the end of each calendar quarter, Trac Medical shall furnish to Homecare Association a statement based upon the amounts due pursuant to Sections 6.2 for the quarter then ended (a "Statement"). The Statement will detail the total Net Revenues collected by Trac Medical and will identify the royalty share percentage and the associated royalty dollar amount payable to Homecare Association. Homecare Association will have ten (10) business days after its receipt of the Statement to dispute any part of the Statement. Within fifteen (15) business days after receipt of the Statement by Homecare Association, Trac Medical will pay to Homecare Association the royalty dollar amounts indicated on the Statement and that are not disputed by Homecare Association. In the event Homecare Association and Trac Medical dispute the Statement, Trac Medical shall pay the undisputed amount in accordance with the previous sentence and the disputed amounts shall be paid within five (5) business days after the dispute is resolved. [ * Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.]