Purchased Components Clause Samples
The 'Purchased Components' clause defines which parts, materials, or products are acquired from third-party suppliers for use in the goods or services provided under the agreement. It typically outlines the responsibilities for sourcing, quality assurance, and approval of these components, and may specify standards or requirements that such components must meet. This clause ensures that both parties are clear about the origin and quality expectations of externally sourced parts, helping to allocate responsibility and reduce disputes over component-related issues.
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Purchased Components. Synnex shall purchase, pursuant to this Agreement, Purchased Components as required to meet the Forecasts. In the event that any Purchased Components become Excess Components or Obsolete Components, Synnex will make every effort to return the Purchased Components to the respective suppliers or resell the Purchased Components to third parties (up to a period of thirty (30) days). Blue Coat shall reimburse Synnex for any price differential between the selling price and the then current value of the Purchased Components provided that Synnex shall use its best commercially reasonable efforts to sell the Purchased Components at the best price available. Additionally, any restocking fees or related return fees charged by suppliers for accepting the return of Purchased Components shall be the obligation of Blue Coat. In the event Purchased Components are not returned to the suppliers or resold to third parties within thirty (30) days of Synnex’s demand for payment therefor, such Purchased Components shall be deemed to be Custom Components.
Purchased Components. In the event that a component purchased by Seller and made part of the equipment by Seller shall prove to be defective in materials, design or workmanship during the Warranty Period, Seller shall, at its sole discretion, (i) replace the defective component at Seller’s expense or (ii) return the defective component directly to the manufacturer for replacement. Purchaser shall, only at Seller’s authorization, return the defective components to Seller at Sellers sole expense