Common use of PAY AND DISPUTE Clause in Contracts

PAY AND DISPUTE. Except as provided herein or in any Ancillary Agreement, in the event of any dispute regarding payment of a third-party invoice (subject to standard verification of receipt of products or services), the party named in a third party's invoice must make timely payment to such third party, even if the party named in the invoice desires to pursue the dispute resolution procedures outlined in this SECTION 5.9. If the party that paid the invoice is found pursuant to this SECTION 5.9 to not be responsible for such payment, such paying party shall be entitled to reimbursement, with interest accrued at a compound annual rate of the Prime Rate plus 2%, from the party found responsible for such payment.

Appears in 2 contracts

Samples: Master Separation and Distribution Agreement (Cellteck Inc.), Master Separation and Distribution Agreement (Hewlett Packard Co)

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PAY AND DISPUTE. Except as provided herein or in any Ancillary Agreement, in the event of any dispute regarding payment of a third-party invoice (subject to standard verification of receipt of products or services), the party named in a third party's invoice must make timely payment to such third party, even if the party named in the invoice desires to pursue the dispute resolution procedures outlined in this SECTION 5.94.7. If the party that paid the invoice is found pursuant to this SECTION 5.9 4.7 to not be responsible for such payment, such paying party shall be entitled to reimbursement, with interest accrued at a compound annual rate of the Prime Rate plus 2%, from the party found responsible for such payment.

Appears in 2 contracts

Samples: Master Separation and Distribution Agreement (C Cube Semiconductor Inc), Master Separation and Distribution Agreement (Harmonic Inc)

PAY AND DISPUTE. Except as provided herein or in any Ancillary Agreement, in the event of any dispute regarding payment of a third-party invoice (subject to standard verification of receipt of products or services), the party named in a third party's invoice must make timely payment to such third party, even if the party named in the invoice desires to pursue the dispute resolution procedures outlined in this SECTION Section 5.9. If the party that paid the invoice is found pursuant to this SECTION Section 5.9 to not be responsible for such payment, such paying party shall be entitled to reimbursement, with interest accrued at a compound annual rate of the Prime Rate plus 2%, from the party found responsible for such payment.

Appears in 2 contracts

Samples: Master Separation and Distribution Agreement (Agilent Technologies Inc), Master Separation and Distribution Agreement (Agilent Technologies Inc)

PAY AND DISPUTE. Except as provided herein or in any Ancillary Agreement, in the event of any dispute regarding payment of a third-party invoice (subject to standard verification of receipt of products or services), the party named in a third party's invoice must make timely payment to such third party, even if the party named in the invoice desires to pursue the dispute resolution procedures outlined in this SECTION 5.9Section 8. If the party that paid the invoice is found pursuant to this SECTION 5.9 Section 8 to not be responsible for such payment, such paying party shall be entitled to reimbursement, with interest accrued at a compound annual rate of the Prime Rate plus 2%, from the party found responsible for such payment.

Appears in 2 contracts

Samples: Master Separation and Distribution Agreement (Brillian Corp), Master Separation and Distribution Agreement (Brillian Corp)

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PAY AND DISPUTE. Except as provided herein or in any Ancillary Agreement, in the event of any dispute regarding payment of a third-party invoice (subject to standard verification of receipt of products or services), the party named in a third party's invoice must make timely payment to such third party, even if the party named in the invoice desires to pursue the dispute resolution procedures outlined in this SECTION 5.9Section 5. If the party that paid the invoice is found pursuant to this SECTION 5.9 Section 5 to not be responsible for such payment, such paying party shall be entitled to reimbursement, with interest accrued at a compound annual rate of the Prime Rate plus 2%, from the party found responsible for such payment.

Appears in 2 contracts

Samples: Transition Services Agreement (Brillian Corp), Transition Services Agreement (Brillian Corp)

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