Acquired Materials Clause Samples

Acquired Materials. If SUPPLIER desires to purchase items to be included as Acquired Materials, SUPPLIER shall provide a written request to BUYER at least five (5) Business Days prior to the purchase of such items. Such request shall include a quote setting forth the cost of each item. If BUYER agrees in writing to purchase some or all of the items, the approved items shall be deemed to be Acquired Materials. If SUPPLIER purchases capital equipment, BUYER may elect, at BUYER’s sole discretion, to have the purchase price including financing costs incurred by SUPPLIER amortized over a period of sixty (60) months, payable in monthly installments on a no interest basis. Financing costs are to be equal to then-current one (1) year LIBOR rate (U.S. currency). SUPPLIER shall provide to BUYER all relevant invoices corresponding to the Acquired Materials purchased for reimbursing purposes. BUYER shall reimburse SUPPLIER for the cost of the Acquired Materials according to the invoicing and payment terms in Exhibit C. At termination of work requiring this equipment, the BUYER will reimburse the SUPPLIER for the remaining purchase price not already reimbursed. BUYER may decide to designate an item proposed to be treated as Acquired Materials as Necessary Materials, in which case such item will deemed to be Necessary Materials subject to the below.