Common use of Latent Defect Clause in Contracts

Latent Defect. If, after Omeros’ acceptance or deemed acceptance of a shipment of Product, Omeros discovers a Latent Defect, Omeros shall notify Hospira within thirty (30) days after such discovery of the Latent Defect, and Omeros shall have the right to revoke acceptance of such shipment of Product by notifying Hospira thereof in writing. Upon such notice, such shipment of Product shall be deemed rejected hereunder and the terms of Subsections 3.3.4 and 3.4 shall apply.

Latent Defect. If, after Omeros’ acceptance or deemed acceptance of a shipment of Product, Omeros discovers a Latent Defect, Omeros shall notify Hospira within thirty (30) days [†] after such discovery of the Latent Defect, and Omeros shall have the right to revoke acceptance of such shipment Delivery of Product by notifying Hospira thereof in writing. Upon such notice, such shipment Delivery of Product shall be deemed rejected hereunder and the terms of Subsections 3.3.4 Sections 3.3.3 and 3.4 shall apply.