KIT FUND Clause Samples
The KIT FUND clause establishes a dedicated fund or financial reserve, typically set aside for specific purposes within a contract, such as maintenance, repairs, or upgrades. In practice, this clause outlines how much money must be contributed, who is responsible for funding it, and under what conditions the fund can be accessed or replenished. Its core function is to ensure that sufficient resources are available to address anticipated needs or obligations, thereby reducing financial uncertainty and disputes over funding responsibilities.
KIT FUND. 6.9.1 The Client may from time to time be allocated a credit limit by Digital Origin (the “Kit Fund”) which is set out in the Order Form.
6.9.2 Subject to the written approval of a director of Digital Origin, Digital Origin may at its sole discretion allocate an amount equivalent to the value in the Kit Fund for the Client to purchase Equipment through Digital Origin from a network distributor or to offset Charges.
6.9.3 Digital Origin reserves the right to refuse a Client’s request to purchase Equipment.
6.9.4 Digital Origin will not agree to purchase Equipment for the Client’s use following the 12th month after the Go-Live Date unless a Client Review Meeting has taken place between the Client and Digital Origin.
6.9.5 The Kit Fund remains the property of Digital Origin at all times.
6.9.6 Digital Origin reserves the right to reduce and/or apply a charge to the Kit Fund in any of the following circumstances:
(a) the Client is in breach of a material term of these Conditions including but not limited to the Client’s failure to pay the Price and/or the Charges (or any of them) to Digital Origin on the due date (which shall include, without limitation, where cancellation of a direct debit instruction results in payment not being made on the due date);
(b) Digital Origin has reasonable grounds to believe that the Network Services are being used fraudulently or unlawfully;
(c) any licence under which the Client has the right to run its telecommunciations system and connect to the Network Services is revoked;
(d) Digital Origin is entitled to suspend provision of any other telecommunications service under the terms of any other agreement with the Client;
(e) Digital Origin reasonably suspects that the Client is in breach of its obligations under the Contract;
(f) Digital Origin reasonably suspects that the Client is intending to terminate the Contract in breach of its obligations; or
(g) the Carrier charges Digital Origin as a result of the Client’s conduct, including if the Client pays a ▇▇▇▇▇▇▇’▇ ▇▇▇▇ late or does not use the Network Services.
6.9.7 Any Kit Fund remaining at the expiry of the Minimum Term or the termination of the Contract will not be paid to the Client but will be retained by Digital Origin.
KIT FUND. 6.9.1 The Client may from time to time be allocated a credit limit by Beyond Networks (the “Kit Fund”) which is set out in the Order Form.
6.9.2 Subject to the written approval of a director of Beyond Networks, Beyond Networks may at its sole discretion allocate an amount equivalent to the value in the Kit Fund for the Client to purchase Equipment through Beyond Networks from a network distributor or to offset Charges.
6.9.3 Beyond Networks reserves the right to refuse a Client’s request to purchase Equipment.
6.9.4 Beyond Networks will not agree to purchase Equipment for the Client’s use following the 12th month after the Go-Live Date unless a Client Review Meeting has taken place between the Client and Beyond Networks.
6.9.5 The Kit Fund remains the property of Beyond Networks at all times.
KIT FUND. 6.9.1 The Client may from time to time be allocated a credit limit by Guru Technology (the "Kit Fund") which is set out in the Order Form.
KIT FUND. 2.1 The Supplier may in its sole discretion allocate a credit amount (‘Kit Fund’) to enable the Client to purchase Equipment through the Supplier from a network distributor,
2.2 The Supplier may in its sole discretion allocate a credit amount (‘Kit Fund’) to enable the Client to purchase Equipment through the Supplier from a network distributor.
2.3 The Supplier shall determine the amount of Kit Fund available to the Client, and will outline this in the Order Form.
2.4 Notwithstanding clause 2.1 and 2.2 above, the Supplier reserves the right to:
(a) refuse a Customer’s request to purchase Equipment using the Kit Fund in its sole discretion;
(b) not agree to purchase Equipment for the Client’s use following the 12th month after the Commencement Date unless a Client Review Meeting has taken place between representatives of the Client and the Supplier.
2.5 The Kit Fund remains the property of the Supplier at all times and the Supplier reserves the right to reduce and/or suspend the Client’s access to the Kit Fund in any of the following circumstances:
(a) the Client is in material breach of the Agreement, including but not limited to the Client’s failure to pay the Fees on the due date;
(b) the Supplier has reasonable grounds to believe that the Network Services are being used fraudulently or unlawfully;
(c) any licence under which the Client has the right to run its telecommunications system and connect to the Network Services is revoked;
(d) the Supplier is entitled to suspend provision of any other telecommunications service under the terms of any other agreement with the Client;
(e) the Carrier charges the Supplier as a result of the Client’s conduct, including if the Client pays a ▇▇▇▇▇▇▇’▇ ▇▇▇▇ late or does not use the Network Services.
2.6 The Client may be eligible to receive additional Kit Fund credits for any new connections that the Supplier adds to the Client’s existing Agreement. The amount of any additional Kit Fund credits shall be determined by the Supplier, and may vary based on network provider terms, the duration and types of each mobile connection.
2.7 Any revenue generated, as part of a network revenue share plan that the Supplier receives from the relevant network provider shall be reconciled every six months, in arrears from the Commencement Date. The Supplier shall credit the Client’s Kit Fund with the Agreed Revenue Share, subject to these terms and conditions.
2.8 Notwithstanding clause 2.6 above, the percentage of any Agreed Revenue...
KIT FUND. 6.9.1 The Client may from time to time be allocated a credit limit by Ezee Business Solutions (the “Kit Fund”) which is set out in the Order Form.
6.9.2 Subject to the written approval of a director of Ezee Business Solutions, Ezee Business Solutions may at its sole discretion allocate an amount equivalent to the value in the Kit Fund for the Client to purchase Equipment through Ezee Business Solutions from a network distributor or to offset Charges.
6.9.3 Ezee Business Solutions reserves the right to refuse a Client’s request to purchase Equipment.
6.9.4 Ezee Business Solutions will not agree to purchase Equipment for the Client’s use following the 12th month after the Go-Live Date unless a Client Review Meeting has taken place between the Client and Ezee Business Solutions.
6.9.5 The Kit Fund remains the property of Ezee Business Solutions at all times.