Common use of Costs of Report or Audit Clause in Contracts

Costs of Report or Audit. (1) In the event that an audit reveals any underpayment, Data Recipient shall promptly, within 5 Business Days, forward the amount of such underpayment including applicable interest to Omega. (2) The costs of any investigation, examination or audit shall be borne by Omega unless such investigation, examination or audit reveals an under-payment in any period by Data Recipient of 10% or more of the Fees Data Recipient is liable for based on its usage in such period (including any distribution) of Data or a material breach of the rights or licences granted to Data Recipient hereunder, in which case, Data Recipient shall promptly reimburse Omega for the cost of the audit and all its reasonable out of pocket costs and expenses directly related to conducting such investigation, examination or audit.