Common use of Competitive Pricing Clause in Contracts

Competitive Pricing. Snap-on may notify Supplier if Snap-on determines that it can purchase a substitute for one or more similar products at prices that are at least five percent (5%) lower than those stated in this Agreement. Supplier will have thirty (30) calendar days from the time Snap-on notifies Supplier to determine whether to match such lower prices. If Supplier has notified Snap-on that it elects to match the prices, such lower prices will apply to POs issued on or after the date of Supplier notice. If Supplier notifies Snap-on that it does not elect to match the prices by the end of the thirty (30) calendar-day period, Snap-on may elect to eliminate such Products from this Agreement, subject to the intellectual and industrial property rights of Snap-on.

Competitive Pricing. Snap-on may notify Supplier if Snap-on determines that it can purchase a substitute for one or more similar products or materials at prices that are at least five percent (5%) lower than those stated in this Agreement. Supplier will have thirty (30) calendar days from the time Snap-on notifies Supplier to determine whether to match such lower prices. If Supplier has notified Snap-on that it elects to match the prices, such lower prices will apply to POs issued on or after the date of Supplier notice. If Supplier notifies Snap-on that it does not elect to match the prices by the end of the thirty (30) calendar-day period, Snap-on may elect to eliminate such Products from this Agreement, subject to the intellectual and industrial property rights of Snap-on.

Competitive Pricing. Snap-on may notify Supplier if Snap-on determines that it can purchase a substitute for one or more similar products at prices that are at least five percent (5%) lower than those stated in this Agreement. Supplier will have thirty (30) calendar days from the time Snap-on notifies Supplier to determine whether to match such lower prices. If Supplier has notified Snap-on that it elects to match the prices, such lower prices will apply to POs issued on or after the date of Supplier notice. If Supplier notifies Snap-on that it does not elect to match the prices by the end of the thirty (30) calendar-day period, Snap-on may elect to eliminate such Products from this Agreement, subject to the intellectual and industrial property rights of Snap-Snap- on.