Functional Services Costs definition

Functional Services Costs means the Actual Cost of Functional Services, including the Actual Costs of the employees of either MSC or MPM who perform Raw Materials/Logistics Services, excluding any Excluded Costs.
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Functional Services Costs means the Actual Cost of Functional Services, including the Actual Costs of the employees of either MSC or MPM who perform Raw Materials/Logistics Services.
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Functional Services Costs means the Actual Cost of Functional Services, including the Actual Costs of the employees of either MSC or MPM who perform Raw Materials/Logistics Services. “Hexion Marks” is defined in Section 3.05(b). “including” shall mean including without limitation. “Monthly Report” is defined in Section 5.04. “MPM” is defined in the caption. “MPM-Provided Services” is defined in Section 3.01. “MPM Holdings” is defined in the recitals. “MPM Marks” is defined in Section 3.05(a). “MSC” is defined in the caption. “MSC Holdings” is defined in the recitals. “MSC-Provided Services” is defined in Section 3.01. “Person” means any individual, partnership, limited partnership, limited liability company, corporation, unincorporated association, joint venture or other entity. “Quarterly Reconciliation Payment” is defined in Section 5.05(a). “Raw Materials/Logistics Services” means the procurement of Raw Materials and Logistics by a Service Provider hereunder. “Raw Materials and Logistics” means raw materials and logistics services, including supplies, freight, equipment and electricity, and indirect costs of such raw materials and logistics services, including packaging, uniforms and pallets, in the case of any of the foregoing, required by or used in connection with the business of either or both of MSC and MPM, but excluding the Actual Costs of the employees of either MSC or MPM who perform Raw Materials/Logistics Services and allocated overhead associated with the performance of such services, which, for the avoidance of doubt, shall be treated as Functional Services Costs hereunder. “Recipient” means MSC or MPM, as applicable, with respect to such party's receipt of a particular Service. “Service Provider” means MSC or MPM, as applicable, with respect to such party's provision of a particular Service. “Services” is defined in Section 3.01. “Steering Committee” is defined in Section 3.04. “Tax” or “Taxes” means (i) all federal, state, local and foreign sales, use, value-added, gross receipts, privilege, utility, infrastructure maintenance, property, excise and similar levies, duties and other similar tax-like charges lawfully levied by a duly constituted taxing authority against or upon the Services; (ii) any penalties, interest or other additions to any such taxes; and (iii) any tax-related surcharges or fees that are related to the Services and authorized by applicable tariffs. “Term” is defined in Section 2.01. “Transaction” is defined in the recitals. “Transaction Agreeme...
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Examples of Functional Services Costs in a sentence

  • All wages, bonuses, compensation, benefits, termination or severance expenses or liabilities, pension fund contribution obligations or liabilities, and other costs, benefits, expenses or liabilities and entitlements of or in connection with employees employed in connection with provision of the Services shall be Service Provider’s responsibility; provided, that such items shall be Functional Services Costs and will be taken into account as such for purposes of Article V.

  • All wages, bonuses, compensation, benefits, termination or severance expenses or liabilities, pension fund contribution obligations or liabilities, and other costs, benefits, expenses or liabilities and entitlements of or in connection with employees employed in connection with provision of the Services shall be Service Provider's responsibility; provided, that such items shall be Functional Services Costs and will be taken into account as such for purposes of Article V.