Future Product Lines Clause Samples
The "Future Product Lines" clause defines how the agreement addresses products or services that a party may develop or introduce after the contract is signed. Typically, this clause clarifies whether new product lines are automatically included under the agreement’s terms or if they require separate negotiation, and may specify conditions for their inclusion, such as notification or approval requirements. Its core function is to prevent ambiguity and disputes by establishing clear rules for how future offerings are treated, ensuring both parties understand their rights and obligations regarding products not yet in existence at the time of contracting.
Future Product Lines. BHGE shall have the authority and right to propose new RSPs for LM Products and Spare Parts as part of new production introductions relating to aero-derivative gas turbines under one or more Technology Development Program Plans. GE Aviation shall have final approval on which parts are open for RSP and what technology shall be shared with RSPs, provided that to the extent that GE Aviation does not approve such RSP, GE Aviation has a rational basis for exclusion (including safety concerns). BHGE shall have the right to veto the introduction of new RSPs if it can demonstrate a material impact on its service revenue or an IP leakage concern. As part of the development of any future LM Product Line, BHGE and GE Aviation shall work together to honor and comply with any then-existing contractual arrangements with GE Aviation’s RSPs.
Future Product Lines. ADGTJV shall have the authority and right to propose new RSPs for LM Products and Spare Parts as part of new production introductions relating to aero-derivative gas turbines under one or more Technology Development Program Plans. GE Aerospace shall have final approval on which parts are open for RSP and what technology shall be shared with RSPs, provided that to the extent that GE Aerospace does not approve such RSP, GE Aerospace has a rational basis for exclusion (including safety concerns). ADGTJV shall have the right to veto the introduction of new RSPs if it can demonstrate a material impact on its service revenue or an IP leakage concern. As part of the development of any future LM Product Line, ADGTJV and GE Aerospace shall work together to honor and comply with any then-existing contractual arrangements with GE Aerospace’s RSPs.
Future Product Lines. The Parties agree to negotiate in good faith the terms, including licensing terms and additional consideration, under which Licensee may develop and commercialize any future medical product developments or enhancements created by Licensor during the Term.