Common use of Invoicing and Terms of Payment Clause in Contracts

Invoicing and Terms of Payment. Distributor shall invoice QLT within [*] of the end [*] for the fees and actual reimbursable costs associated with the [*] set forth in this Section 5. Payment of undisputed amounts shall be due within [*] of receipt of the invoice. QLT will notify Distributor of any disputed charges in writing within [*] of receipt of the invoice covering such charges. In the absence of any such notice of dispute, all invoices will be deemed to be correct and due in full per the payment terms above. A late fee of [*] (or any portion thereof) will be charged as of the due date on all amounts not paid after [*] receipt of the invoice, except any amount disputed by QLT in good faith.