Excess Components Clause Samples

The Excess Components clause defines how surplus parts or materials, beyond what was ordered or required, are handled in a contractual relationship. Typically, this clause specifies whether the supplier is permitted to deliver extra components, how such excess will be managed (such as return, storage, or disposal), and who bears the associated costs. Its core function is to prevent disputes and unexpected expenses by clearly outlining responsibilities and procedures for dealing with any components delivered in excess of contractual requirements.
Excess Components. “Excess Components” shall be defined as those components exceeding *** of demand as a result of an engineering change and/or Buyer’s schedule changes, pursuant to Section 7 and acquired to meet Buyer’s original delivery date in accordance to Section 4.
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Excess Components. “Excess Components” shall be defined as 100% of the on-hand components held by Seller in its inventory for more than [***]. Buyer’s liability for Excess Components shall be handled with the following process: a) Seller shall generate a report and provide it to Buyer by the end of the first week of the second month of each calendar quarter. Buyer and Seller shall review and agree on as to the report’s accuracy and the dollar value of the then-current Excess Components, which shall be based upon Seller’s then-current standard component cost use in the most recent Product quotation. No later than the end of the second month of each calendar quarter, Buyer shall issue a purchase order for the agreed upon dollar value, and Seller shall invoice Buyer accordingly. Buyer shall submit a cash deposit in the amount of such invoice no later than the last day of the third month of the calendar quarter. The process shall repeat each calendar quarter. If the Excess Component value increases from the previous calendar quarter, Buyer shall make an additional deposit to cover the increase. Similarly, if the Excess Component value decreases from the previous calendar quarter, Seller shall return by the end of the third month of the calendar quarter the appropriate portion of the deposit to bring the deposit in line with the Excess Component value. b) The cash deposits are paid as security against Buyer’s liability to Seller, and its affiliates under any contract between them including, but not limited to, liability for services, manufactured finished goods, work-in-process and Excess Components and/or Obsolete Components purchased in support of Buyer’s requests. Seller shall hold this sum as a deposit against such liabilities, with Seller having the right to apply the amount held in deposit against any such liabilities at any time upon [***] advance written notice only if Buyer: (i) becomes insolvent, (ii) files, or has filed against it, a petition in bankruptcy, (iii) makes an assignment for the benefit of creditors, or (iv) generally becomes unable to pay its debts as they become due. Seller shall provide Buyer with an accounting of amounts held on deposit, and payments made out of deposit, at any time upon reasonable request. Upon written request from Buyer at any time, Seller shall return to Buyer amounts held on deposit following satisfaction of any and all outstanding obligations or potential liabilities of Buyer to Seller; provided, return of such deposit shall provid...
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Excess Components. (a) For purposes of this section, "Excess Components" means components, subassemblies or raw materials that were ordered by Venture to fulfill Iomega's requirements in respect of any Committed Period or to comply with Venture's obligations with respect to [**] under this Agreement, but were in the event not consumed, or if consumed, Iomega failed to purchase the Products for which such components were consumed.
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Related to Excess Components

  • Components Patheon will purchase and test all Components (with the exception of Client-Supplied Components) at Patheon’s expense and as required by the Specifications.

  • Excess Sales If the number or amount of Contract Securities attributable to an Underwriter pursuant to Section 4.1 hereof would exceed such Underwriter’s Original Underwriting Obligation reduced by the number or amount of Underwriters’ Securities sold by or on behalf of such Underwriter, such excess will not be attributed to such Underwriter, and such Underwriter will be regarded as having acted only as a Dealer with respect to, and will receive only the concession to Dealers on, such excess.

  • REPAIRED OR REPLACED PARTS / COMPONENTS Where the Contractor is required to repair, replace or substitute Product or parts or components of the Product under the Contract, the repaired, replaced or substituted Products shall be subject to all terms and conditions for new parts and components set forth in the Contract including Warranties, as set forth in the Additional Warranties Clause herein. Replaced or repaired Product or parts and components of such Product shall be new and shall, if available, be replaced by the original manufacturer’s component or part. Remanufactured parts or components meeting new Product standards may be permitted by the Commissioner or Authorized User. Before installation, all proposed substitutes for the original manufacturer’s installed parts or components must be approved by the Authorized User. The part or component shall be equal to or of better quality than the original part or component being replaced.

  • Excess Costs Subject to the provisions of Section 4.1.3 below, if (a) the actual cost of any line item of the Work set forth in the Budget (including all fees and soft costs) exceeds the portion of the Contract Sum allocated for that line item in the Budget, or (b) additional unanticipated costs are identified after the date of this Agreement for which amounts were not allocated or reallocated in the Budget (collectively, the “Excess Costs”), Contractor shall be solely responsible at its sole cost and expense for, and shall pay, the amount of all such Excess Costs required to complete the Work (or the component thereof) and otherwise to fulfill all of its obligations under this Agreement without reimbursement for the Excess Costs by Owner. In addition, if Owner reasonably and in good faith anticipates that an Excess Cost will be incurred to achieve Completion of the Work, Owner may provide written notice thereof to Contractor (“Cost Overrun Notice”). Within twenty (20) business days after receipt of such Cost Overrun Notice, Contractor may dispute the contents of such Cost Overrun Notice by delivering written notice thereof to Owner (the “Cost Overrun Dispute Notice”) explaining in reasonable detail that Owner’s estimation of Excess Costs is incorrect. If Contractor fails to deliver a Cost Overrun Dispute Notice, Contractor shall be deemed to have waived its right to dispute the Excess Costs identified in such Cost Overrun Notice. If Contractor delivers a Cost Overrun Dispute Notice, Owner may (A) withdraw such Cost Overrun Notice, (B) modify such Cost Overrun Notice to conform to all or any corrections offered by Contractor, or (C) if Owner disagrees with the contents of the Cost Overrun Dispute Notice, engage the Civil Engineer to determine whether (and to what extent) any Excess Costs will be incurred. If the Civil Engineer concludes that an Excess Cost will be incurred and the amount of such Excess Cost exceeds the amount, if any, of the Excess Costs identified in the Cost Overrun Dispute Notice, Contractor shall be solely responsible for the fees payable to such Civil Engineer. If the Civil Engineer concludes that the amount of Excess Costs to be incurred is equal to or less than the Excess Costs identified in the Cost Overrun Dispute Notice, Owner shall be solely responsible for the fees payable to such Civil Engineer. Any funds deposited with Owner shall be disbursed by Owner to Contractor upon completion of the applicable component of the Work and the payment of such Excess Costs, if any.

  • Loop Provisioning Involving Integrated Digital Loop Carriers 2.6.1 Where Freedom has requested an Unbundled Loop and BellSouth uses IDLC systems to provide the local service to the End User and BellSouth has a suitable alternate facility available, BellSouth will make such alternative facilities available to Freedom. If a suitable alternative facility is not available, then to the extent it is technically feasible, BellSouth will implement one of the following alternative arrangements for Freedom (e.g. hairpinning): 1. Roll the circuit(s) from the IDLC to any spare copper that exists to the customer premises. 2. Roll the circuit(s) from the IDLC to an existing DLC that is not integrated. 3. If capacity exists, provide "side-door" porting through the switch. 4. If capacity exists, provide "Digital Access Cross Connect System (DACS)- door" porting (if the IDLC routes through a DACS prior to integration into the switch). 2.6.2 Arrangements 3 and 4 above require the use of a designed circuit. Therefore, non- designed Loops such as the SL1 voice grade and UCL-ND may not be ordered in these cases. 2.6.3 If no alternate facility is available, and upon request from Freedom, and if agreed to by both Parties, BellSouth may utilize its Special Construction (SC) process to determine the additional costs required to provision facilities. Freedom will then have the option of paying the one-time SC rates to place the Loop.