Common use of Obsolete Materials Clause in Contracts

Obsolete Materials. As a result of a requested design change by GT MED TECH, certain materials may become obsolete, meaning that such materials are no longer used to manufacture Products and/or cannot be cost-effectively reworked to be used under the design change. At mutually-agreeable times, IsoRay shall provide GT MED TECH with an invoice for the purchase costs of such obsolete materials, and GT MED TECH shall pay such invoice within sixty (60) days after receipt thereof. At GT MED TECH’s option, IsoRay shall either return or destroy such obsolete materials at GT MED TECH expense.

Obsolete Materials. As a result of a requested design change by GT MED TECH, certain materials may become obsolete, meaning that such materials are no longer used to manufacture Products and/or cannot be cost-effectively reworked to be used under the design change. At mutually-agreeable times, IsoRay Isoray shall provide GT MED TECH with an invoice for the purchase costs of such obsolete materials, and GT MED TECH shall pay such invoice within sixty (60) days after receipt thereof. At GT MED TECH’s option, IsoRay Isoray shall either return or destroy such obsolete materials at GT MED TECH expense.