Forecasts and Material Liability Sample Clauses

Forecasts and Material Liability. 5.1.1 Sonim will use [***] to provide Company with [***] of its [***] of anticipated orders for the Products, and spare parts on a [***] basis. Company shall review the production capability for each Product and evaluate its capability of fulfilling the [***]. All [***] shall be subject to [***]. 5.1.2 Sonim shall be liable to Company for all excess and obsolete materials and approved Long Lead-Time Materials, as defined below, that Company purchases or causes to be purchased with Sonim’s [***] to stock-up/purchase such material, including open purchase orders for such materials (“Approved Materials”). Company’s material availability and production plan shall be [***] to Sonim. Any Company material stock-up plan must [***] be confirmed by Sonim’s purchasing team, and Sonim shall be only liable for the materials disclosed in the BOM. For materials with lead time longer than [***] (“Long Lead-Time Materials”), Company will obtain [***] approval from Sonim to purchase Long Lead-Time Materials on a case by case basis prior to any purchase of such materials. 5.1.3 Sonim shall respond to Company’s proposed material stock-up plan or purchase request for Long Lead-Time Materials no later than [***] from its receipt of Company’s proposal. 5.1.4 Company may submit a material liability claim to Sonim [***], requesting to settle the material liability related to (a) any Approved Materials that do not have a projected usage for the next [***]; (b) any Approved Materials warehoused that have not been consumed in the previous [***]; or (c) any expired Approved Materials. In the event Company submits any material liability claim requesting Sonim to pay for any excess and/or obsolete materials, Sonim may request Company to provide relevant purchase order information to the extent necessary and for the sole purpose to verify such material liability claim. 5.1.5 Subject to agreement between the Parties, Sonim shall obtain and maintain in favor of Company an irrevocable bank guarantee, equivalent to the amount specified in each applicable SOW (“Bank Guarantee”). The terms of the Bank Guarantee shall provide that Company shall be entitled to enforce the same in the event there is any default in payment obligations set forth in this Agreement. It is clarified that in the event the Bank Guarantee is encashed by Company pursuant to default in payment plus delayed payment charges, if any, in accordance with this Agreement, Sonim shall provide a fresh Bank Guarantee for the amount ...
Sample 1
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Related to Forecasts and Material Liability

  • Material Liabilities The Company has no liability or obligation, absolute or contingent (individually or in the aggregate), except (i) obligations and liabilities incurred after the date of incorporation in the ordinary course of business that are not material, individually or in the aggregate, and (ii) obligations under contracts made in the ordinary course of business that would not be required to be reflected in financial statements prepared in accordance with generally accepted accounting principles.

  • No Undisclosed Material Liabilities There are no liabilities or obligations of the Company or any of its Subsidiaries of any kind whatsoever, whether accrued, contingent, absolute, determined, determinable or otherwise, other than: (i) liabilities or obligations disclosed and provided for in the Company Balance Sheet or in the notes thereto; (ii) ordinary course liabilities or obligations incurred in the ordinary course of business consistent with past practices since the Company Balance Sheet Date; and (iii) liabilities or obligations that would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on the Company.

  • Financial Statements; Material Liabilities The Company has delivered to each Purchaser copies of the financial statements of the Company and its Subsidiaries listed on Schedule 5.5. All of said financial statements (including in each case the related schedules and notes) fairly present in all material respects the consolidated financial position of the Company and its Subsidiaries as of the respective dates specified in such Schedule and the consolidated results of their operations and cash flows for the respective periods so specified and have been prepared in accordance with GAAP consistently applied throughout the periods involved except as set forth in the notes thereto (subject, in the case of any interim financial statements, to normal year-end adjustments). The Company and its Subsidiaries do not have any Material liabilities that are not disclosed on such financial statements or otherwise disclosed in the Disclosure Documents.

  • Products and Completed Operations Personal Injury Liability Contractual Liability The policy shall be on an occurrence form and limits shall not be less than: $1,000,000 Each Occurrence $2,000,000 General Aggregate $1,000,000 Products/Completed Operations Aggregate $1,000,000 Personal & Advertising Injury

  • Contractual Liability Liability for payments under the Plan shall be the responsibility of the:

  • Business Automobile Liability Contractor shall maintain, during the entire term of the contract, automobile liability insurance in an amount not less than five hundred thousand dollars ($500,000.00) per occurrence.

  • Business Auto Liability Coverage shall be provided for all owned hired, and non-owned vehicles. Required Limit: $1,000,000 combined single limit each accident.

  • Legal Liability For teachers having any legal proceeding brought against them for libel or slander in respect of any statements relating to the employment, suspension or dismissal of any person by the Board, published at a meeting of the Board or a committee thereof, or for assault in respect of disciplinary action taken in the course of duty, the Board shall pay the legal costs or any part thereof incurred by such teachers in successfully defending such legal proceeding as referred to above. If found guilty, the teacher shall bear said legal expenses.

  • Products and Completed Operations Liability Employers Liability and Voluntary Compensation unless the HSP complies with the Section below entitled “Proof of WSIA Coverage”,

  • Total Liability WAVIN’S TOTAL LIABILITY UNDER OR IN CONNECTION WITH THE AGREEMENT FOR CLAIMS OF ANY KIND (INCLUDING THIRD PARTY CLAIMS) WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE ARISING OUT OF THE PERFORMANCE/NON-PERFORMANCE OR BREACH OF THE AGREEMENT, INCLUDING ANY OTHER COMPENSATION UNDER THE AGREEMENT, OR THE PROVISION OF ANY PRODUCTS OR SERVICES SHALL NOT EXCEED THE AMOUNT PAID OR PAYABLE FOR THE SPECIFIC PRODUCT OR SERVICE THAT GIVES RISE TO THE CLAIM.

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