Cost Competitive definition

Cost Competitive means that the Prices charged by the Supply Partner for the Parts are in excess of those quoted by other suppliers, as evidenced by at least one (1) legally binding offers from third parties (which are not Affiliates of Select Comfort) offering to supply Parts to select Comfort (i) that are substantially and materially similar to the Parts offered by the Supply Partner; (ii) under at least equal terms with regard to quality, delivery and volume; and (iii) at volumes at least equal the volumes identified in Schedule A; and (iv) for Prices that are at least XXXX lower than the Prices charged by the Supply Partner for the Parts. Prior to terminating this Agreement under this section, Select Comfort shall notify Supply Partner of any offers it receives which tend to indicate that Supply Partner’s Prices for the Parts is no longer Cost Competitive and provide Supply Partner with copies of such offers and the possibility to evaluate the same or similar competing product. Thereafter, Supply Partner shall have ninety (90) days within which to respond to Select Comfort with a competitive offer and shall have the opportunity to deliver the statement regarding justifiability of the claimed price. If the Supply Partner is unable or unwilling to make a competitive offer during such ninety day period, Select Comfort has the right but not the obligation to terminate this Agreement immediately at the end of the ninety day period.
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Examples of Cost Competitive in a sentence

  • The amount so allocated to an eligible Participant shall be credited to such Participant's Profit Sharing Account as of the Annual Valuation Date in the Plan Year for which such contribution is made, or if earlier, the Valuation Date coincident with or next following the date as of which such contribution is received by the Trustee.

  • By Select Comfort at any time after the third year of the Agreement with one (1) year prior written notice in the event that the Prices for the Parts cease to be Cost Competitive.

  • Prior to terminating this Agreement under this section, Select Comfort shall notify Supply Partner of any offers it receives which tend to indicate that Supply Partner’s Prices for the Parts is no longer Cost Competitive and provide Supply Partner with copies of such offers and the possibility to evaluate the same or similar competing product.