Supplier acknowledges that Sample Clauses
The "Supplier acknowledges that" clause serves to formally record the supplier's recognition or acceptance of certain facts, conditions, or obligations within the contract. In practice, this clause might require the supplier to confirm awareness of specific requirements, such as compliance standards, delivery timelines, or the buyer's expectations. By including this clause, the contract ensures that the supplier cannot later claim ignorance of these key points, thereby reducing the risk of disputes and promoting mutual understanding between the parties.
Supplier acknowledges that. 9.6.1 all rights in the Developments shall vest in Buyer absolutely;
9.6.2 it is not entitled to any source code or object code relating to the Developments, as all rights in such source code vest absolutely in Buyer; and
9.6.3 it has no rights to license the Intellectual Property Rights or Developments, or any part thereof, to any third party.