Common use of Payment Errors Clause in Contracts

Payment Errors. In the event that any errors in payments shall be determined, such errors shall be corrected by appropriate adjustment in payment for the quarterly period during which the error is discovered. In the event of an underpayment of more than five percent (5%) of the proper amount owed, upon such underpayment being properly determined by the Auditor, Licensee shall reimburse SUN the amount of said underpayment and the reasonable charges of the Auditor in performing the audit that identified said underpayment, and interest on the overdue amount at the maximum allowable interest rate from the date of accrual of such obligation.

Appears in 3 contracts

Samples: Technology License and Distribution Agreement (Borland Software Corp), Technology License and Distribution Agreement (Webgain Inc), Technology License and Distribution Agreement (Webgain Inc)

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Payment Errors. In the event that any errors in payments shall be -------------- determined, such errors shall be corrected by appropriate adjustment in payment for the quarterly period during which the error is discovered. In the event of an underpayment of more than five percent (5%) of the proper amount owed, upon such underpayment being properly determined by the Auditor, Licensee shall reimburse SUN Sun the amount of said underpayment and all reasonable costs and expenses associated with the reasonable charges exercise of the Auditor in performing the audit that identified said underpaymentits rights to audit, and interest on the overdue amount at the maximum allowable interest rate from the date of accrual of such obligation.

Appears in 2 contracts

Samples: Technology License and Distribution Agreement (Opentv Corp), License and Distribution Agreement (Intershop Communications Aktiengesellschaft)

Payment Errors. In the event that any errors in payments shall be -------------- determined, such errors shall be corrected by appropriate adjustment in payment for the quarterly period during which the error is discovered. In the event of an underpayment of more than five percent (5%) of the proper amount owed, upon such underpayment being properly determined by the Auditor, Licensee shall reimburse SUN Sun the amount of said underpayment and all reasonable costs and expenses associated with the reasonable charges exercise of the Auditor in performing the audit that identified said underpaymentits rights to audit, and interest on the overdue amount at the maximum allowable interest rate from the date of accrual of such obligation.. ****CONFIDENTIAL TREATMENT REQUESTED

Appears in 1 contract

Samples: Technology License and Distribution Agreement (Intershop Communications Aktiengesellschaft)

Payment Errors. In the event that any errors in payments shall be determined, such errors shall be corrected by appropriate adjustment in payment for the quarterly period during which the error is discovered. In the event of an underpayment of more than five percent (5%) of the proper amount owed, upon such underpayment being properly determined by the Auditor, Licensee shall reimburse SUN Sun the amount of said underpayment and the reasonable charges of the Auditor in performing the audit that identified said underpayment, and interest on the overdue amount at the maximum allowable interest rate from the date of accrual of such obligation.

Appears in 1 contract

Samples: License and Distribution Agreement (Patriot Scientific Corp)

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Payment Errors. In the event that any errors in payments shall be determined, such errors shall be corrected by appropriate adjustment in payment for the quarterly period during which the error is discovered. In the event of an underpayment of more than five percent (5%) of the proper amount owed, upon such underpayment being properly determined by the Auditor, Licensee shall reimburse SUN Sun the amount of said underpayment and all reasonable costs and expenses associated with the reasonable charges exercise of the Auditor in performing the audit that identified said underpaymentits rights to audit, and interest on the overdue amount at the maximum allowable interest rate from the date of accrual of such obligation.. 5.0

Appears in 1 contract

Samples: Technology License and Distribution Agreement (Curtis Mathes Holding Corp)

Payment Errors. In the event that any errors in payments shall be determined, such errors shall be corrected by appropriate adjustment in payment for the quarterly period during which the error is discovered. In ln the event of an underpayment of more than five percent (5%) of the proper amount owed, upon such underpayment being properly determined by the Auditor, Licensee shall reimburse SUN Sun the amount of said underpayment and all reasonable costs and expenses associated with the reasonable charges exercise of the Auditor in performing the audit that identified said underpaymentits rights to audit, and interest on the overdue amount at the maximum allowable interest rate from the date of accrual of such obligation.

Appears in 1 contract

Samples: License and Distribution Agreement (Gemstone Systems Inc)

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