IAE Clause Samples
The IAE clause, short for "In Any Event," serves to clarify that a particular obligation or outcome will apply regardless of other circumstances or conditions. In practice, this clause is often used to emphasize that a party's responsibility or a specific result remains unchanged even if other provisions of the contract are triggered or if certain events occur. For example, it might state that payment is due in any event, even if the contract is terminated early or if performance is delayed. The core function of the IAE clause is to eliminate ambiguity and ensure that certain key obligations or results are not affected by other contractual developments, thereby providing certainty and reducing the risk of disputes.
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IAE. The IAE Propulsion Systems Base Price of a set of two (2) INTERNATIONAL AERO ENGINES IAE Propulsion Systems (excluding specifically engine accessories, nacelles and thrust reversers) is:
3.2.2.1 IAE V2522-A5 for the A319 Aircraft ***
3.2.1.2 IAE V2527-A5 for the A320 Aircraft ***
3.2.1.3 IAE V2533-A5 for the A321 Aircraft *** A320F – CES 2010 Private & Confidential CT1002329 – Issue 2010.10.28 Such IAE Propulsion Systems Base Prices have been established in accordance with the delivery conditions for a theoretical delivery in *** and have been calculated from the IAE Propulsion Systems Reference Prices for the: *** *** *** The IAE Propulsion Systems Reference Prices have been established in accordance with the economic conditions prevailing for a theoretical delivery in *** and shall be subject to revision up to the Aircraft delivery date in accordance with the IAE INTERNATIONAL Price Revision Formula set forth in Appendix C-2 hereto (the “IAE Price Revision Formula”).
IAE. As to IAE, it is agreed between the Parties that, to the best of their knowledge no data, know- how or information of IAE shall be needed by another Party for implementation of the Action (Article 25.2 Grant Agreement) or Exploitation of that other Party’s Results (Article 25.3
IAE. IAE shall maintain the following insurance coverages for the duration of the Agreement and for a period of one year thereafter:
8.2.1. Commercial General Liability (CGL) coverage on an occurrence basis, with no limits less than $2 million per occurrence, $5 million general aggregate. Such coverage limits may be satisfied through the use of limits included on a master policy maintained by IAE. This insurance shall be primary with respect to claims arising out of IAE’s negligence or wrongful acts or omissions.
8.2.2. Automobile Liability coverage covering IAE’s owned, non-owned and hired automobiles with limits no less than $1 million combined single limit for bodily injury and property damage per accident. Such coverage limits may be satisfied through the use of limits included on a master policy maintained by IAE.
8.2.3. IAE agrees to carry at its own expense, any necessary Workers’ Compensation Insurance for its employees per Illinois State worker compensation statute and as may be required by the Commonwealth of Massachusetts. All other labor retained or contracted by IAE will be provided by companies registered to do business in the Commonwealth of Massachusetts, and such companies shall provide workers’ compensation for their employees in compliance with all Applicable Law.