RTS Date definition
Examples of RTS Date in a sentence
Seller shall retain risk of loss for the Equipment during transportation, subject to Articles 20 and 25, and shall be liable or otherwise held responsible for any delay in performance of the transportation service or arrival of the Equipment, except to the extent such delays are caused by shipment to storage after the Scheduled RTS Date, Purchaser or anyone under its direction or control (other than Seller or its Subcontractors).
If Purchaser cannot accept delivery after the Scheduled RTS Date, Seller may ship such part of Equipment to storage upon written notice to Purchaser and approval by Purchaser of the proposed storage facility, which approval shall not be unreasonably withheld, conditioned, or delayed.
For the purposes of this section, unless otherwise specified herein, the Scheduled RTS Date for any part of the Equipment shall be the date that is four (4) weeks prior to the date for delivery of such part as is specified in Attachment 3 (“Schedule of Values”).
The Seller shall provide the Notice of RTS for each Major Component by the date(s) set forth in the Scheduled RTS Date(s) schedule attached to this Contract as Attachment 7 (each, a "Scheduled RTS Date").
If Purchaser is exempt from any Purchaser Taxes, Purchaser will provide Seller adequate documentation of exemption in accordance with the taxing authority regulations at least sixty (60) days prior to the Scheduled RTS Date of the Equipment.
The Seller shall further have the right to suspend any shipment of the Equipment if all payments due prior to the applicable Scheduled RTS Date have not been made.