Common use of Underpayment; Overpayment Clause in Contracts

Underpayment; Overpayment. After reviewing the CPA Firm’s audit report, Licensee shall promptly pay any uncontested, understated amounts due to Kineta. Any overpayment made by Licensee shall be promptly refunded or fully creditable against amounts payable in subsequent payment periods, at Licensee’s election. Any audit under Section 7.7.2 shall be at K▇▇▇▇▇’s expense; provided, however, Licensee shall reimburse reasonable audit fees for a given audit if the results of such audit reveal that Licensee underpaid Kineta with respect to royalty payments by five percent (5%) or more for the audited period. Kineta-Genentech Exclusive Option and License Agreement