Equivalent Materials definition
Examples of Equivalent Materials in a sentence
Supplier shall afford all purchase orders for the Materials received from Mentor equal priority with Supplier's own supply requirements and orders from other customers or distributors for both the Materials, Equivalent Materials, and other similar products manufactured by Supplier.
Supplier hereby covenants and agrees to keep and maintain at all times an accurate account of all operations within the scope of this Agreement for a period of at least seven (7) Years after the expiration or termination of this Agreement, including without limitation, all of its books and records of the sale of Materials and Equivalent Materials to Mentor and its Competitors, device master records, device history records, and master access files.
If it is not possible for Vendor to obtain Equivalent Materials, Vendor shall remove the infringing item from service and Vendor shall reimburse Company the actual direct costs incurred by Company to replace the infringing item, and Company’s charges under this Agreement shall be equitably reduced to reflect the reduction in value, if any, to Company.
Each Person other than Mentor or its Affiliates that (a) competes with Mentor in any Market Segment, and (b) purchases Materials or Equivalent Materials from Supplier or any Affiliate of Supplier for use in one or more Products of the type which are then being manufactured or distributed by Mentor using Materials or Equivalent Materials purchased by Mentor from Supplier pursuant to this Agreement.
After the expiration of the initial Term of this Agreement, Supplier shall continue to supply the requirements of Mentor for the Materials at the same price and on the same terms as it supplies its other customers for the Materials or Equivalent Materials on a year to year basis, subject to the right of either party to terminate this agreement during any such renewal term at any time upon six (6) months prior written notice of termination.
Supplier will ship all orders for Materials, and for other products manufactured or supplied by Supplier to others, in the priority in which such orders were received, and Supplier will not place any purchase orders for Materials received from Mentor on a back-order status if Supplier is then shipping Materials, Equivalent Materials other products manufactured or supplied by Supplier to its other customers or distributors.