Vendor Tooling definition

Vendor Tooling means tooling owned by the Buyer that is used and stored at the premises of a Third Party but used for the production of Contract Products (and/or components therein) for the Buyer.
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Examples of Vendor Tooling in a sentence

  • Supplier shall not modify, lease, transfer or dispose of any Vendor Tooling unless Supplier obtains MARELLI’s prior written consent.

  • Supplier shall, immediately upon MARELLI’s request, deliver the Vendor Tooling to MARELLI or its nominee in accordance with MARELLI’s instructions.

  • All Vendor Tooling shall be marked as the property of MARELLI by Supplier, shall not be commingled with the property of Supplier or any third person, and shall not be moved from Supplier’s premises (except for repair or modification) without MARELLI’s prior written approval.

  • In order to fulfill its responsibility with respect to state and local property taxes on Vendor Tooling, Supplier will include such tooling on its own property rendition forms and pay property taxes on such tooling as if it were owned by Supplier.

  • Supplier shall also be responsible for any state and local property taxes assessed on the Vendor Tooling.

  • The Buyer is responsible for providing and maintaining such Vendor Tooling.

  • For the avoidance of doubt, the aforementioned includes a responsibility for the Supplier to ensure that all facilities, equipment and tooling used in the Plant is properly insured except for when the ownership of the Unique Type Bound Tooling and Equipment and Unique Vendor Tooling used for manufacturing the Vehicle has been transferred to or retained with the Buyer or Component Supplier according to separate Tooling Agreement.

  • The Supplier undertakes to maintain in its ownership and possession all tooling and equipment for vehicles to be produced in the Plant (e.g. Common Equipment, Common Type Bound Tooling and Equipment, Common Vendor Tooling), except for Unique Type Bound Tooling and Equipment and Unique Vendor Tooling which the Buyer shall remain the owner of.

  • Seller and Buyer agree to the allocated fair market value of the Acquired Assets as follows: Inventory $1,842,749 Furniture, Fixtures and Equipment $ 68,000 Vendor Tooling $ 240,000 Ling name and trademark $ 171,251 ---------- TOTAL $2,325,000 ========== Such allocation shall be binding on Buyer and Seller for all federal, state and local tax purposes.

  • Supplier shall not modify, lease, transfer or dispose of any Vendor Tooling unless Supplier obtains Nissan’s prior written consent.

Related to Vendor Tooling

  • Supplier Equipment means the Supplier's hardware, computer and telecoms devices, equipment, plant, materials and such other items supplied and used by the Supplier (but not hired, leased or loaned from the Customer) in the performance of its obligations under this Call Off Contract;

  • Supplier Software means software which is proprietary to the Supplier and software which is or will be used by the Supplier for the purposes of providing the Placement Services;

  • Supplier means the successful bidder who is awarded the contract to maintain and administer the required and specified service(s) to the State.

  • OEM means Original Equipment Manufacturer.

  • Supplier/Contractor means the individual, firm or company with whom the contract has been concluded for supplying the Goods and Services under the Contract. The Supplier/Contractor shall be deemed to include its successors (approved by the purchaser), representatives, heirs, executors, administrators and permitted;