NXP Group definition
Examples of NXP Group in a sentence
This Agreement does not contain a stipulation in favour of a third party (‘derdenbeding’), except for the Company and the relevant Group Companies in relation to all provisions of this Agreement pursuant to which the Company and/or the Group Companies are granted certain rights or are the recipient of certain guarantees, covenants or undertakings and for the relevant members of the NXP Group in relation to Clause 6.10 and Clause 6.14.
As of the date set for Closing, all coverage with respect to NXP’s Relevant Businesses under any insurance policies of any member of the NXP Group (the “Insurance Policies”) in respect of events, occurrences or accidents occurring on or after the Closing Date shall be cancelled and terminated, excluding those Insurance Policies in respect of which the sole policy holders or named insured are part of NXP’s Relevant Businesses.
On the 15th calendar day of each month, NXP Group shall invoice the costs for Products delivered and Manufacturing Services provided for that month.
During the Finished Goods Period, Trident shall be required to approve any Wafer starts in NXP Plants as well as purchase orders by NXP Group with Third Party Providers necessary for NXP Group to comply with a Confirmed STP.
Trident shall furthermore hold NXP Group harmless and indemnify NXP Group from all damages and costs directly attributable to such claims.
Trident Group may cancel any Purchase Order, Binding Purchase Order or Adjusted Binding Purchase Order or portion thereof at any time by submitting a written cancellation notice to NXP Group.
NXP Group warrants that it shall use commercially reasonable efforts to render the Manufacturing Services such that Products delivered to Trident Group under this Agreement shall substantially meet the agreed specifications set out in Annex J under normal use for a period (the “Warranty Period”) of one (1) year from the date of shipment (the “Warranty”).
Transfer of ownership of Wafers or Products supplied by NXP Group to Trident Group shall occur at the time of shipment to Trident Group.
Any such approved Wafers and purchase orders shall be for the economic benefit and risk of Trident and shall be used by NXP Group in the provision of Back End Services for Products of Trident ordered in the Finished Goods Period.
NXP Group shall package the Wafers and Products in accordance with NXP Group’s practices immediately prior to Closing, as applicable.