Common use of Audit Fees and Expenses Clause in Contracts

Audit Fees and Expenses. Pfizer shall bear any and all fees and expenses it may incur in connection with any such audit of the Relevant Records; provided, however, in the event an audit reveals an underpayment by Iterum of more than [ * ] as to the period subject to the audit, Iterum shall reimburse Pfizer for any reasonable and documented out-of-pocket costs and expenses of the audit within [ * ] after receiving invoices thereof, and notwithstanding the provisions of Section 6.2, Pfizer shall have the right to examine the Relevant Records of Iterum up to once every [ * ] for the [ * ] period following the audit revealing such underpayment.

Appears in 3 contracts

Sources: License Agreement (Iterum Therapeutics LTD), License Agreement (Iterum Therapeutics LTD), License Agreement