IR'S COVENANTS Clause Samples
The "IR's Covenants" clause sets out specific promises or obligations that the IR (likely an Independent Representative or similar party) must fulfill under the agreement. These covenants typically require the IR to act in accordance with certain standards, such as complying with laws, maintaining confidentiality, or refraining from actions that could harm the other party or the business. For example, the IR may be required to avoid conflicts of interest or to use best efforts in performing their duties. The core function of this clause is to clearly define the IR's responsibilities, thereby protecting the interests of the other party and ensuring the smooth operation of the contractual relationship.
IR'S COVENANTS. 4.1 WEB SITE. IR will, at its cost, develop, produce, implement and test its web site and supporting electronic commerce enabling software, as well as provide technical support, including developing and procuring credit card processing and encryption software, subject, however, to the reasonable approval of BBDC in relation to its fulfillment responsibilities under this Agreement. In addition, IR will, at its cost, develop and procure all software interfaces or programs necessary to enable IR to connect with BBDC's systems and operations facilities. All software and hardware developed or purchased by IR to support BBDC under this Agreement will remain the property of IR. Each screen accessible to consumers on IR's web site will clearly identify IR. Unless modified by Exhibit 2, if any, no content on IR's web site will directly or indirectly (a) identify BBDC or (b) lead any consumer or potential consumer to believe that IR or its web site is the manufacturer of a Product. IR will update its web site to indicate that a Product is unavailable or subject to other special conditions based upon BBDC's Product notices and any failure to do so that results in additional handling, storage, administrative or other costs to BBDC will subject IR to an additional charge.