Common use of NEW PROPOSALS Clause in Contracts

NEW PROPOSALS. (a) Buyer or Seller (the "Proposing Party") may, at any time, propose in writing to the other party (the "Responding Party") additional changes to the design, appearance, manufacture, materials, or other aspects of production of any Product (each a "Proposal"), which proposal shall provide a brief description of the reasons for such Proposal and the expected benefits, including cost savings, to result from implementation of such Proposal. Upon receipt, the Seller will make all reasonable efforts to evaluate the Proposal and to provide the Buyer with an estimate of the approximate amount of the addition to or reduction in the aggregate cost of production of such Product as a result of such Proposal. Buyer and Seller will then mutually agree to accept or reject such Proposal. (b) Upon acceptance of any Proposal, the Seller shall follow the procedures outlined in Section 10(c) with respect to production of samples. (c) The price of any Product after implementation shall be adjusted as follows: ** OMITTED PURSUANT TO CONFIDENTIAL TREATMENT REQUEST. **