Audit of Records Relating to Royalties Sample Clauses

Audit of Records Relating to Royalties. SENOMYX, with reasonable written notice to KO, will have the right to cause SENOMYX's nationally recognized independent, certified public accountant to audit such records at the place or places of business where such records are customarily kept in order to verify the accuracy of the reports of royalty payments. Such accountant must execute a confidentiality agreement prior to entering KO's premises, obligating such accountant to keep all information disclosed to it confidential and will only be permitted to disclose to SENOMYX the extent of any discrepancy between royalty payments made by KO under this Agreement and the actual royalty required to be so paid. SENOMYX will bear the full cost of such audit unless such audit discloses an underpayment of more than [***] from the amount of the royalties due under this Agreement, in which event, KO will bear the full cost of such audit. In all events, KO will pay any underpayment with interest in accordance with Section 9.10. Any overpayment made by KO will be refunded to KO. SENOMYX agrees not to disclose Confidential Information concerning royalty payments reports, and all other information learned in the course of an audit or inspection, except to the extent necessary for SENOMYX to enforce its rights under this Agreement or if disclosure is required by law.
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  • REPRESENTATIONS RELATING TO RECEIVABLES Borrower represents and warrants to Silicon as follows: Each Receivable with respect to which Loans are requested by Borrower shall, on the date each Loan is requested and made, (i) represent an undisputed bona fide existing unconditional obligation of the Account Debtor created by the sale, delivery, and acceptance of goods or the rendition of services in the ordinary course of Borrower's business, and (ii) meet the Minimum Eligibility Requirements set forth in Section 8 below.

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