MATERIAL PROCUREXXXX Sample Clauses

MATERIAL PROCUREXXXX. 4.1 Avery-Delaware is authorized to purchaxx xxterials using standard purchasing practices in order to meet the forecasted requirements of Customer. Customer recognizes its financial responsibility for the material purchased by Avery-Delaware on behalf of Customer. Xxxxxmer is responsible for material to the extent that (i) material was purchased by Avery-Delaware to support the Product xxxxxast; (ii) Avery-Delaware exercised reasonable buxxxxxs judgment in managing suppliers and lead times; (iii) Avery-Delaware complied with Customer xxxxxllation instructions in a timely manner (canceled all open orders within one (1) week of receiving instructions). 4.2 Customer may revise or cancel a purchase order for Product and may also eliminate a component from a Product. If Customer revises or cancels a purchase order ("Order"), or eliminates a component, or through revised forecast (downside) causes excess inventory, Avery- Delaware shall identify all potxxxxxl liability of Customer for material on order, material on hand, work in process, and finished goods. Avery-Delaware shall undertake commercxxxxx reasonable efforts to cancel all applicable component purchase orders and reduce component inventory through return for credit programs or allocate components for alternate programs to minimize charges to Customer. Customer agrees to compensate Avery- Delaware for costs incurred for xxxxshed goods (including profit); work in process (including labor performed); material on hand which could not be returned or used for other customers and at other sites of Avery-Delaware; material on order whicx xxxld not be canceled; applicable material supplier's restocking or cancellation fees; and agreed Avery-Delaware handling charges. 4.3 Xxxry-Delaware will report its inventoxx xxsition to Customer on a monthly basis, including the following data: quantity of raw material, work in process and any open orders that cannot be canceled due to supplier lead time. Report will specifically identify any material on hand or on order where the quantity exceeds the agreed three (3) month forward looking forecast. 4.4 Avery-Delaware shall undertake reasonaxxx xfforts to cancel all applicable component purchase orders and reduce component inventory through return for credit programs or allocate components for alternate programs if applicable.
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Related to MATERIAL PROCUREXXXX

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