Common use of Substantial Underpayment Clause in Contracts

Substantial Underpayment. If any such audit reveals that the aggregate of royalties paid during any four consecutive calendar quarters was more than five percent (5%) less than the amount that should have been paid, then the reasonable expenses of the audit shall be borne by Licensee, which shall pay those expenses within thirty (30) days after demand therefore by Tufts accompanied by the accountants’ statement therefor.

Substantial Underpayment. If any such audit reveals that the aggregate of royalties paid during any four consecutive calendar quarters was more than five percent (5%) less than the amount that should have been paid, then the reasonable expenses of the audit shall be borne by Licensee, which shall pay those expenses within thirty (30) days after demand therefore by Tufts accompanied by the accountants’ ' statement therefor.

Substantial Underpayment. If any such audit reveals that the aggregate of royalties paid during any four consecutive calendar quarters was more than five percent (5%) less than the amount that should have been paid, then the reasonable expenses of the audit shall be borne by LicenseeREDOX, which shall pay those expenses within thirty (30) days after demand therefore by Tufts accompanied Clarx xxxompanied by the accountants’ ' statement therefor.

Substantial Underpayment. If any such audit reveals that the aggregate ------------------------ of royalties paid during any four consecutive calendar quarters was more than five percent (5%) [*] less than the amount that should have been paid, then the reasonable expenses of the audit shall be borne by Licensee, which shall pay those expenses within thirty (30) days after demand therefore therefor by Tufts Licensor accompanied by the accountants’ ' statement therefor.