Tooling Agreements Sample Clauses
A Tooling Agreements clause defines the terms under which tools, dies, molds, or other equipment used in the manufacturing process are provided, maintained, and owned. Typically, this clause specifies whether the buyer or supplier is responsible for the cost, upkeep, and eventual return or disposal of the tooling, and may address issues such as intellectual property rights or access to the equipment. Its core function is to clarify ownership and responsibility for tooling, thereby preventing disputes and ensuring smooth production operations.
Tooling Agreements. As of the Effective Date all GM Purchase Orders and other contractual commitments between the Debtors and GM or any of its Affiliates relating to the manufacture and sale of fixtures, gauges, jigs, patterns, casting patterns, dies, molds, and other Tooling utilized in the production of GM Component Parts and Component Systems (collectively, the “Tooling Agreements”) shall be assumed or reinstated, as applicable.