Obsolete Items Sample Clauses

The Obsolete Items clause defines how products or materials that are no longer current or have been discontinued are handled within a contract. Typically, this clause outlines the procedures for notifying the other party when an item becomes obsolete, the process for substituting or phasing out such items, and any obligations regarding remaining inventory or replacement parts. Its core function is to ensure both parties have a clear understanding of their rights and responsibilities when dealing with outdated goods, thereby minimizing disputes and ensuring continuity in supply or service.