Common use of Supplements and Modifications Clause in Contracts

Supplements and Modifications. Buyer and Seller acknowledge that this Master Order Agreement does not, as of the date hereof, fully and finally determine all of the terms of the rights, obligations and liabilities of Seller and that, notwithstanding the absence of all of such terms, Seller and Rockwell intend to make a contract hereby and intend to be bound by the terms hereof (including those yet to be determined). With respect to such terms which are not yet fully determined, Rockwell shall, from time to time, from and after the execution and delivery of this Master Order Agreement, specify such terms by notice given by Rockwell to Seller pursuant to this Master Order Agreement, and all such terms shall be binding upon Seller. Such specification of terms shall be made by Rockwell in its sole discretion, exercised in good faith and in a commercially reasonable manner. With respect to the commercial reasonableness of any such specific term, Seller acknowledges that the market for the sale of new commercial jet transport is extremely competitive and requires from manufacturers and suppliers the commitment of very substantial resources and may require the expenditure of substantial resources, and will likely require extraordinary effort. Accordingly, any specification of terms hereof by Rockwell, as provided for above, shall not be deemed to be commercially unreasonable solely because such term requires Seller to expend substantial sums or to undertake extraordinary efforts to meet the program requirements specified by Rockwell. By way of example, and not as a limitation of the foregoing, Seller may be required in order to support program requirements to increase its production rate to keep pace with Rockwell's development or production schedule for program airplanes and derivatives as determined by Rockwell from time to time with reference to actual and anticipated market demand for program airplanes and derivatives. Without limiting the foregoing, nothing in this Paragraph 18 is intended by the parties to affect the provisions of Clause 12 or 13 of, or any provisions contained in, this Master Order Agreement or the rights or obligations of either party with respect to any adjustment or change to, or the payment of, prices, whether or not arising from the further determination of the terms of this Master Order Agreement or the expenditure of substantial sums or the undertaking of extraordinary efforts by the Seller.

Appears in 1 contract

Sources: Master Order Agreement (Lmi Aerospace Inc)

Supplements and Modifications. Buyer Seller and Seller Spirit acknowledge that this Master Order Agreement SBP does not, as of the date hereof, fully and finally determine all of the terms of the rights, obligations and liabilities of Seller and that, notwithstanding the absence of all of such terms, Seller and Rockwell Spirit intend to make a contract hereby and intend to be bound by the terms hereof (including those yet to be determined). With respect to such terms which are not yet fully and finally determined, Rockwell Spirit shall, from time to time, time from and after the execution and delivery of this Master Order AgreementSBP, specify such terms by notice given by Rockwell Spirit to Seller pursuant to this Master Order AgreementSBP (including, without limitation, SBP Section 36.0), and all such terms shall be binding upon Seller. Such specification of terms shall be made by Rockwell Spirit in its sole discretion, exercised in good faith and in a commercially reasonable manner. With respect to the commercial reasonableness of any such specific term, Seller acknowledges that the market for the sale of new commercial jet transport is extremely competitive and requires from manufacturers and suppliers the commitment of very substantial resources and may require the expenditure of substantial resources, and will likely require extraordinary effort. Accordingly, any specification of terms hereof by RockwellSpirit, as provided for above, shall not be deemed to be commercially unreasonable solely because such term requires Seller to expend substantial sums or to undertake extraordinary efforts to meet the program Program requirements specified by RockwellSpirit. By way of example, and not as a limitation of the foregoing, Seller may be required in order to support program Program requirements to increase its production rate to keep pace with Rockwell's Spirit’s development or production schedule for program airplanes Program Airplanes and derivatives Derivatives as determined by Rockwell Spirit from time to time with reference to actual and anticipated market demand for program airplanes Program Airplanes and derivativesDerivatives. Without limiting the foregoing, nothing in this Paragraph 18 SBP Section 41.0 is intended by the parties Parties to affect the provisions of Clause 12 SBP Section 12.0 or 13 SBP Section 36.0 of, or any other provisions contained in, this Master Order Agreement SBP Section 43.0, or the rights or obligations of either party Party with respect to any adjustment or change to, or the payment of, pricesPrices, whether or not arising from the further determination of the terms of this Master Order Agreement SBP or the expenditure of substantial sums or the undertaking of extraordinary efforts by Seller. Special Business Provisions Seller’s Name: LMI Aerospace, Inc. T6B2-YB001940 INITIALS: In the Sellercase of any subcontract for assigned Products that is identified in this SBP, Spirit shall be solely responsible for source selection placement of all follow-on requirements beyond the current contract. In addition, Seller shall not modify or extend any such subcontract without the prior written consent of Spirit.

Appears in 1 contract

Sources: Special Business Provisions (Lmi Aerospace Inc)