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 a material discrepancy as calculated under Section 43 or 44;

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.

• The University reserves the right to withdraw an Event booking, if it receives further information at any time that leads it to believe that this Code of Practice will be infringed or if it believes conditions for the Event will not be met.

• 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.

• Manager Freeman said it’s often more cost effective for a small municipality to look for on-demand service than paid daily service.

More Definitions of Material Discrepancy

Material Discrepancy means factual errors that couldsignificantly alter the status or identity of a beneficial o w ner b u t t h i s does not include typing mistakesor spelling errors;

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, 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. As defined in Section 11.3(c).

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 has the meaning given it in Section 9.2.

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.