VDM definition
Examples of VDM in a sentence
Material items which are delivered direct from the vendor to the job site (VDM) are charged at cost, plus a purchasing loading rate (plr) of 1%, up to a maximum of $150 per invoice.
Materials charges are made in four sub-categories: 1) direct material costs (DM), which may be delivered direct from vendors to the job site (VDM) or issued from company stores (SDM), 2) purchasing expenses (PE), 3) stores expenses (SE), and 4) exempt minor materials (EM).
In the event any amounts due and payable to INN have been underpaid by ten percent (10%) or more, VDM shall pay promptly to INN the cost of such examination and audit, in addition to the amount of such underpayment.
INN shall have the right and option to undertake and control the defense of any such claim or suit and VDM shall cooperate fully with INN in connection therewith.
Notwithstanding anything to the contrary contained in this License, VDM does not have any rights in respect of the Dispensers greater than INN's rights under the Master License Agreement.
This section focuses specifically on the fundamental features of VDM, those provided by VDM-SL and VDM++.
VDM shall not, at any time during or after the term of this Agreement, dispute or contest, directly or indirectly, INN’s right and title to the Dispenser, such patents or the validity thereof.
Notwithstanding the foregoing, nothing herein shall be deemed a waiver of the right of VDM, as a member of the general public, to use, market or exploit, without compensation to INN, rights that are not protected, or by the action or inaction of INN come into the public domain.
In addition, at the request of INN, an annual audit of the Company's financial statements with respect to payments and earnings due or earned pursuant to this Agreement may be requested by INN and shall be performed by an independent accounting firm at the sole cost of VDM and shall be provided to INN within 60 days of the fiscal year end.
Materials charges (M) are made in four sub-categories: 1) direct material costs (DM), which may be delivered direct from vendors to the job site (VDM) or issued from company stores (SDM), 2) purchasing expenses, 3) stores expenses, and 4) exempt minor materials (EM).