Material Discrepancy definition

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.

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Material Discrepancy means factual errors that could significantly alter the status or identity of a beneficial owner but this does not include typing mistakes or spelling errors;

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.

Examples of Material Discrepancy in a sentence

• Such audit shall be conducted at Buyer's sole cost and expense unless a negative Material Discrepancy is identified by the Auditor, in such case Supplier shall pay for the cost and expense 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.

• 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.

• Such audit shall be conducted at Buyer’s sole cost and expense unless a negative Material Discrepancy is identified by the Auditor, in such case Supplier shall pay for the cost and expense of the audit.

More Definitions of Material Discrepancy

Material Discrepancy has the meaning given it in Section 9.2.

Material Discrepancy means a material discrepancy as calculated under Section 43 or 44;

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.

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 has the meaning specified in Section 18(c).

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) 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.