Common use of Evaluation by XXX of Electrification Technologies Clause in Contracts

Evaluation by XXX of Electrification Technologies. If, during the Exclusivity Period, XXX becomes aware of any new or upgraded electrification component or technology capable of being incorporated within the XXX Aircraft or any other aircraft produced or in development by TAI (each, an “Electrification Opportunity” and collectively, the “Electrification Opportunities”), TAI has the right, but not the obligation, in its sole discretion, to request XXX to evaluate such Electrification Opportunity and XXX agrees and commits to evaluate and assess the technology, market potential and commercial feasibility of such Electrification Opportunity at the expense of XXX. If XXX and XXX mutually agree that an Electrification Opportunity is technically and commercially viable, XXX agrees and commits to work to incorporate such Electrification Opportunity within an existing electrification project, or, at the expense of XXX to design, develop, engineer and pursue an STC for such Electrification Opportunity, as applicable.

Appears in 4 contracts

Samples: Sales and Marketing Agreement (Surf Air Mobility Inc.), Sales and Marketing Agreement (Surf Air Mobility Inc.), Sales and Marketing Agreement (Surf Air Mobility Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!