Scope Extensions definition
Scope Extensions means the specific products that are not Core Grid but are produced or sold by the Joint Venture as of the Restatement Date or are products which are agreed by the Board of Directors to be added as products produced or sold by the Joint Venture or which are logical extensions of then-existing Scope Extension products produced or sold by the Joint Venture and include refinements or improvements of such products or products designed to replace or compete against any then current Scope Extension products produced or sold by the Joint Venture. Scope Extensions as of the Restatement Date are the ceiling products currently produced and sold by the Joint Venture under the names “Perimeters,” “Axiom” or “Serpentina.” All Scope Extensions will be listed on Schedule X, which Schedule X shall be deemed amended and updated from time to time to reflect new Scope Extensions developed as refinements or improvements as provided above or approved by the Board of Directors. Scope Extensions that are Exclusive Scope Extensions will be specifically designated as such on Schedule X. The parties intend to update Schedule X from time to time to reflect additions and deletions.
Examples of Scope Extensions in a sentence
The purpose of the Joint Venture shall be to operate a global business related to the production and sale of Core Grid, Scope Extensions, Grid-Type Products, and products and services related thereto and, to the extent approved by the Board or through Guiding Principles approved by the Board, other products and services.