Material Discrepancy definition

Material Discrepancy means, with respect to Royalties, the greater of 5% or $10,000 when compared to the amount that was reported during the period subject to audit; and/or with respect to other terms of this Agreement, material non-compliance with any other material terms.

Material Discrepancy means either (i) a material breach of the Agreement; or (ii) amounts revealed to be owed by Company to Microsoft with respect to a Channel Authorization in excess of the specific percentage or fee amount threshold set forth in that Channel Authorization.

Material Discrepancy means either (i) a material breach of the Agreement; or (ii) amounts revealed to be owed by Company to Microsoft with respect to a Channel Authorization in excess of the specific percentage or fee amount threshold set forth i n that Channel Authorization.

Examples of Material Discrepancy in a sentence

• Microsoft will pay the cost of audit expenses for verifying Company’s compliance with the Agreement; provided, however, that if the audit reveals a Material Discrepancy, then Company must promptly reimburse Microsoft for the reasonable costs of the audit.

• Audits will not be performed more than once every 12 months, unless an audit discloses a Material Discrepancy, in which case follow-up audits may be conducted until the Material Discrepancy has been resolved.

• Licensee will promptly pay the costs of any audit(s) that reveal a Material Discrepancy; otherwise, Microsoft will be responsible for the costs.

• Except as otherwise provided in the Agreement, unless a prior audit has revealed a Material Discrepancy or Company’s non- compliance with the section entitled “Business Integrity Principles” set forth in the Core Terms, or Microsoft has credible and reliable evidence of Company’s non-compliance with the section entitled “Business Integrity Principles” set forth in the Core Terms, Microsoft will not audit Company more than one time per calendar year under this section.

• If the audit reveals a Material Discrepancy, Company must pay MS the costs of the audit, in addition to any unpaid amounts due.

More Definitions of Material Discrepancy

Material Discrepancy for purposes of this Channel Authorization means amounts revealed to be owed by Company to Microsoft in excess of 2% of Product Fees paid to Microsoft for the applicable Products during the period subject to the audit. Customer Related Terms and Obligations

Material Discrepancy means either: (i) an underpayment in excess of five percent (5%) of the amounts payable in a twelve (12) months period; or (ii) an intentional breach of this Agreement.

Material Discrepancy means a finding by the Inspection Facility that the Aircraft (i) does not conform in all material respects to the description of the Aircraft set forth in Exhibit A, (ii) has Material Damage, (iii) has Material Corrosion, (iv) requires any non-standard and recurring inspection of any kind or (v) would not qualify for a current and valid Airworthiness Certificate without exceptions, restrictions or limitations.

Material Discrepancy means, with respect to Royalties, the greater of five percent (5%) or Fifty Thousand United States Dollars (US$50,000) when compared to the amount that was reported during the period subject to such audit, and/or with respect to other terms of this Agreement, material non-compliance with any terms. If any audit reveals non-compliance with the terms of this Agreement, the Disclosing Party will take all commercially reasonable steps to correct that non-compliance and advise the Receiving Party of such steps as soon as practicable. The foregoing is in addition to any other remedies that may be available to the Receiving Party.

Material Discrepancy has the meaning given it in Section 9.2. [ * ] indicates that information has been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment.

Material Discrepancy means either (i) a material breach of the Agreement; or (ii) amounts revealed to be owed by Company to Microsoft in excess of the specific percentage or dollar amount threshold set forth in the Enrollment or Program Appendix.

Material Discrepancy means where, for any period of reporting of Program Costs by TMS, the amount of Program Costs stated by TMS are overstated by an amount greater than five thousand dollars ($5,000) for any quarter; twenty thousand dollars ($20,000) for any one calendar year; or fifty thousand dollars ($50,000) for all fiscal years preceding the time of determining the amount of overstatement.