Common use of Discrepancy Clause in Contracts

Discrepancy. If, in the opinion of the auditor, the Representative’s books of account are not in order or are inaccurate to the extent that the Representative’s payments of any fees due to the Licensor are or have been understated to the extent of three percent (3%) or more for the period of the audit, then the cost of the audit (including without limitation the charges of any auditor and the travelling expenses, accommodation and compensation of its employees and Representatives) must be paid by the Representative.

Discrepancy. If, in the opinion of the auditor, the Representative’s books of account are not in order or are inaccurate to the extent that the Representative’s payments of any fees due to the Licensor are or have been understated to the extent of three percent (3%) or more for the period of the audit, then the cost of the audit (including without limitation the charges of any auditor and the travelling expenses, accommodation and compensation of its employees and Representatives) must shall be paid by the Representative.