Business Dealings with the Partnership. A Parent or its Affiliates may enter into any contract or agreement with the Partnership and otherwise enter into any transaction or dealing with the Partnership on an arm’s-length basis (in each case containing terms and conditions that, in the aggregate, are not less favorable to the Partnership than those the Partnership could obtain from an unrelated third party) and derive and retain profits therefrom, provided that any such contract or agreement or other transaction or dealing is approved by the Governing Committee pursuant to Section 4.02 if such approval is required. The validity of any such contract, agreement, transaction or dealing or any payment or profit related thereto or derived therefrom shall not be affected by any relationship between the Partnership and such Parent or any of its Affiliates (including such Parent’s Partner).
Business Dealings with the Partnership. The Partnership may enter into contracts or agreements with, and otherwise enter into transactions or dealings with, either Parent (or any of its Affiliates), and derive and retain profits therefrom. The validity of any such contract, agreement, transaction or dealing or any payment or profit related thereto or derived therefrom shall not be affected by any relationship between the Partnership and either Partner or any of their respective Affiliates (including such Parent's Affiliated Partner). The Partners acknowledge and agree that IBM will be the supplier of information processing hardware, software and services to the Partnership under IBM's then standard customer agreements at those prices and upon those other terms and conditions that IBM offers to its most favored unaffiliated customers purchasing comparable quantities, except as may be otherwise provided in the Operative Documents. The Partnership may, however, contract with third party suppliers if the Governing Board determines that any products or services are necessary or appropriate for the business of the Partnership and are not reasonably available from IBM. Unless otherwise approved by the Partners or otherwise expressly provided in the Operative Documents, all business dealings of the Partnership with a Parent and its Subsidiaries shall be on Standard Commercial Terms and Conditions which shall mean those commercial terms and conditions that are not more favorable in any material respect to either party to the commercial transaction to which such terms and conditions apply than would customarily apply between two unaffiliated parties in a commercial transaction involving comparable types and quantities of goods or services. SECTION 3.02.
Business Dealings with the Partnership. Except as otherwise provided herein, and subject to the Partnership Ordinance, a Partner or any Affiliate thereof may enter into contracts or agreements with the Partnership and otherwise enter into transactions or dealings with the Partnership on an arm's-length or other reasonable basis and derive and retain profits therefrom, provided that any such contract or agreement or other transaction or dealing is approved by the Partners pursuant to Section 4.4. The validity of any such approved contract, agreement, transaction or dealing or any payment or profit related thereto or derived therefrom shall not be affected by any relationship between the Partnership and such Partner or any of its Affiliates.
