PRLC definition
Examples of PRLC in a sentence
As used herein, the term "Prototype" shall mean any and all models, or actual samples, of Licensed Products; and the term "Final Prototype" shall mean the actual final sample of a Licensed Product from which the first commercial production thereof will be made and which has been approved by PRLC prior to the first commercial production thereof pursuant to paragraphs 8 and 9 hereof.
PRLC may, in its sole discretion, by written notice, approve any of the designs so furnished, with such modifications as it shall deem appropriate, or it may disapprove any or all of the designs.
In the event that PRLC rejects a particular Prototype or Prototypes, Company shall be notified of the reasons for rejection and Company may be provided with suggestions for modifying the particular Prototype or Prototypes which PRLC is rejecting.
The failure of PRLC to give timely notice hereunder shall not affect rights to indemnification hereunder, except to the extent that GSCP is actually prejudiced by the failure to give such notice.
All parties will cooperate with each other with respect to the preparation and filing of any such tax returns and GSCP shall afford PRLC reasonable review of any such returns prior to their filing and will accept reasonable comments of PRLC with respect thereto.
Company shall take all necessary steps, and all steps reasonably requested by RLHC and PRLC, to prevent or avoid any misuse of the licensed designs by any of its customers, contractors or other resources.
If GSCP fails to assume the defense of such claim within 30 calendar days after receipt of the Claim Notice, PRLC will (upon delivering notice to such effect to GSCP) have the right to undertake, at GSCP's cost and expense, the defense of such claim on behalf of and for the account and risk of GSCP.
Accordingly, all items of Licensed Products manufactured by Company hereunder shall be of high quality workmanship with adherence to all details and characteristics embodied in the designs furnished by PRLC pursuant to the provisions of this Agreement.
At the Effective Time, Holding shall be deemed merged into PRLC as provided by the DGCL and this Agreement.
PRLC shall be available for consultation with Company on Design Concepts for the purpose of making such modifications to the Design Concepts as are required to meet PRLC's approval.