Leased Tools definition
Examples of Leased Tools in a sentence
Owner shall not acquire any rights to any of Vendor’s, its Affiliates’ or Vendor Responsible Parties’, proprietary computer software or to the Leased Tools leased to Owner pursuant to the CPSFA that may be used in connection with the performance of the Scope of Work.
Acceptance Criteria with respect to the Leased Tools is defined in Section 9.3. Action is defined in Section 5.3(h).
Notwithstanding Section 9.1(ii) above, Vendor’s sole and exclusive warranty with respect to the design, operability and performance of the Leased Tools is that each Leased Tool shall meet the acceptance criteria (“Acceptance Criteria”) specified for each Leased Tool under the CPSFA.
Warranty repair or replacement, or reperformance of deficient services, with respect to the Leased Tools shall be rewarranted for twelve (12) months provided that in no event may any warranty with respect to the Leased Tools exceed twelve (12) months following expiration of the original warranty period applicable to the Leased Tools.
Notwithstanding the foregoing, Vendor’s warranty with respect to the Leased Tools and to any services provided under this Agreement with respect to the Leased Tools leased to Owner under the CPSFA shall extend for twelve (12) months only from the date the Leased Tools have met the Acceptance Criteria under the CPSFA and are ready to be placed in service.
During any periods of lease, Customer will, at Customer's expense, insure Leased Parts and Leased Tools and promptly reimburse Boeing for any loss or destruction of, or damage to, such Leased Parts or Leased Tools.
Risk of loss or damage to Leased Parts or Leased Tools will remain with Customer until such Leased Parts or Leased Tools are returned to Boeing.
Notwithstanding any such termination, Customer will remain liable for and will pay to Boeing all lease charges calculated to the date on which the Leased Parts or Leased Tools are returned to Boeing.
Customer will pay all costs and expenses incurred by Boeing in connection with repossession of any Leased Parts or Leased Tools, including reasonable attorneys' fees.
Upon termination of all Orders for Leased Parts or Leased Tools under this Article 14, Customer will promptly assemble all Leased Parts or Leased Tools and deliver them to Boeing at a time and place designated by Boeing.