Common use of Supplier Managed Inventory Program Clause in Contracts

Supplier Managed Inventory Program. DARKPULSE acknowledges that the concept of "purchase commitments to a Vendor” (as used in Section 4 and elsewhere in this Agreement) includes not only SANMINA purchase orders issued to Vendors, but also forecasts (which are based on DARKPULSE’s Forecasts) provided to Vendors in accordance with SANMINA's Supplier Managed Inventory Program ("SMI Program"). Under the SMI Program, SANMINA provides Vendors with forecasts of anticipated Component requirements, and the Vendor is obligated to supply SANMINA with all forecasted Components, but SANMINA does not issue Vendor a purchase order until the Component is actually required by SANMINA for production. However, under the SMI Program, SANMINA is obligated to either consume a sufficient level of the forecasted Components or pay the Vendor for a certain level of unused Components. For the purpose of this Agreement, DARKPULSE's Component Liability (pursuant to Section 4.5 above) shall include the cost of any required Vendor payments under the SMI Program as well as any Components actually ordered from the Vendors based on DARKPULSE's Forecast.

Supplier Managed Inventory Program. DARKPULSE CUSTOMER acknowledges that the concept of "purchase commitments to a Vendor” (as used in Section 4 4.2(a) and elsewhere in this Agreement) includes not only SANMINA purchase orders issued to Vendors, but also forecasts (which are based on DARKPULSECUSTOMER’s Forecasts) provided to Vendors in accordance with SANMINA's Supplier Managed Inventory Program ("SMI Program"). Under the SMI Program, SANMINA provides Vendors with forecasts of anticipated Component requirements, and the Vendor is obligated to supply SANMINA with all forecasted Components, but SANMINA does not issue Vendor a purchase order until the Component is actually required by SANMINA for production. However, under the SMI Program, SANMINA is obligated to either consume a sufficient level of the forecasted Components or pay the Vendor for a certain level of unused Components. For the purpose of this Agreement, DARKPULSECUSTOMER's Component Liability (pursuant to Section 4.5 4.2(f) above) shall include the cost of any required Vendor payments under the SMI Program as well as any Components actually ordered from the Vendors based on DARKPULSECUSTOMER's Forecast.

Supplier Managed Inventory Program. DARKPULSE CUSTOMER acknowledges that the concept of "“purchase commitments to a Vendor” (as used in Section 4 4.2(a) and elsewhere in this Agreement) includes not only SANMINA SANMINA-SCI purchase orders issued to Vendors, but also forecasts (which are based on DARKPULSECUSTOMER’s Forecasts) provided to Vendors in accordance with SANMINA's -SCI’s Supplier Managed Inventory Program ("“SMI Program"”). Under the SMI Program, SANMINA SANMINA-SCI provides Vendors with forecasts of anticipated Component requirements, and the Vendor is obligated to supply SANMINA SANMINA-SCI with all forecasted Components, but SANMINA SANMINA-SCI does not issue Vendor a purchase order until the Component is actually required by SANMINA SANMINA-SCI for production. However, under the SMI Program, SANMINA SANMINA-SCI is obligated to either consume a sufficient level of the forecasted Components or pay the Vendor for a certain level of unused Components. For the purpose of this Agreement, DARKPULSE's CUSTOMER’s Component Liability (pursuant to Section 4.5 4.2(f) above) shall include the cost of any required Vendor payments under the SMI Program as well as any Components actually ordered from the Vendors based on DARKPULSE's CUSTOMER’s Forecast.