New Tooling definition
Examples of New Tooling in a sentence
Party A and Party B may add New Tooling to Appendix T1 by an addendum to Appendix T1 executed by Party A and Party B.
Once such final drawings have been completed, Party B shall manufacture such New Tooling to produce parts in accordance with such final drawings in accordance with the state of the art technology and in accordance with all relevant laws and regulations, particularly with all production safety, professional accident prevention, and any and all other safety laws, rules, and regulations.
If Party A and Party B add any New Tooling to Appendix T1, Party A and Party B shall add Tooling Specifications for such New Tooling to Appendix T2 by executing and delivering an addendum to Appendix T2 which sets forth such Tooling Specifications.
The Tooling Purchase Price includes all Taxes (as defined in Clause 5.3 below) and all expenses and charges, including without limitation expenses and charges relating to design, production, trial run cost, packing, transportation and any other costs relating to the New Tooling.
Promptly after the execution of this Amendment, A123 will place an order to purchase the additional tooling required to manufacture the PRODUCTS (the "New Tooling"), and will send to B&D an invoice equal to the amount of the purchase price of the New Tooling, or approximately US$[**] (the "Loan Amount").
All such New Tooling shall be and shall remain the property of B&D until the Loan Amount is repaid to B&D in accordance with the terms of this Amendment.
Title to New Tooling shall pass from ATACO to Buyer (and become Buyer Tooling) only after ▇▇▇▇▇ has paid for such New Tooling in full.
Appendix T3 may be updated at any time by mutual written agreement of both Parties, including to address any additional New Tooling added to Appendix T1 after the date hereof.
EXACT may request Discovery to design, manufacture or have manufactured New Tooling on its behalf.
All New Tooling shall meet the representations and warranties of the General Terms.