Maquila Program definition
Examples of Maquila Program in a sentence
On or prior to the Closing Date, Purchaser shall deliver or Shall cause the other applicable Purchaser to deliver a copy of the Maquila Program in Mexico.
Buyer and Seller acknowledge and agree that all tangible assets owned by either Monterrey or Seller and located in Mexico shall remain in the possession of Monterrey as contemplated by the Maquila Program and the Maquila Agreement.
As used herein, the term "Force Majeure" shall mean (i) an elimination of the Maquila Program which results in the termination of operations in Reynosa of 35% of the companies holding Maquila permits at the time of such program elimination, and (ii) acts of God, strike, riot, shortages of labor or materials, war, acts of terrorism or any other causes of any kind whatsoever which are beyond such party's reasonable control.
Any temporary imports of raw materials, machinery and equipment have been carried out in material compliance with the terms and conditions set forth in the Maquila Program, the Maquila Decree and with any other Applicable Laws.
No raw material, machinery or equipment other than those authorized under the Maquila Program have been imported.
All machinery, equipment, tools, spare parts, raw materials and other assets which according to Monterrey's books and records were imported under the Maquila Program, have been appropriately imported thereunder according to applicable laws and are held and used by Monterrey within Mexico in accordance with the terms thereof and all applicable laws.
The Maquila Program is in full force and effect and there is no action or, threatened action by any authority to suspend, cancel or revoke the Maquila Program.