PO Representative definition
Examples of PO Representative in a sentence
Upon not less than thirty (30) days advance written notice to Licensee, the PO Representative is entitled to have an independent appointed auditor have access to such books and records as necessary to conduct a review or audit of all activities of Licensee relating to payment obligations under the Agreement, including Net Sales and the volume of sales made of Cells, Electrode Systems and/or Complex Systems by Licensee, and to verify all reports submitted and payments.
The auditor shall be paid by the PO Representative, unless the audit of Licensee’s records reveals that Licensee has underpaid amounts owed by more than five percent (5%) for the records so audited.
The Patent Owners understand and agree that, according to the Sublicense Agreement, the PO Representative will receive or have access to confidential information related to the commercial activities of A123 and its Related Corporations and Joint Ventures, and technical information related to the processes used by such companies and the products made and sold by such companies.
It is understood, however, that such information may be disclosed by the PO Representative to Licensor, insofar is required by Licensor to exercise its rights and perform its obligations under the Sublicense Agreement and under its agreements with the Patent Owners and, in aggregate form only, also insofar as required to assess infringement of the Licensor Licensed Patent Rights by Third Parties.
Such access will be available to the PO Representative not more than once each calendar year of the Term, during normal business hours, and once a year for three (3) years after the expiration or termination of the Agreement.
In the latter case Licensee will pay the reasonable costs and expenses incurred by the PO Representative and its representatives and accountants, if any, in connection with the review or audit.