Common use of Price Warranty Clause in Contracts

Price Warranty. Seller represents and warrants that all of the prices, warranties, benefits, terms and conditions granted to Buyer hereunder are now and shall be no less favorable than the prices, warranties, benefits, terms and conditions granted to Seller’s other customers. If at any time during the term of the Agreement or any extension thereof, Seller shall offer more favorable prices, warranties, benefits, terms, or conditions for substantially the same or similar goods as those provided under the Agreement, then Seller shall within fifteen (15) calendar days after the effective date of such offering, notify Buyer of such fact in writing and offer Buyer the more favorable offering. If during the term of the Agreement, Buyer receives an offer from another supplier to supply the Goods to be supplied hereunder at a lower price than named herein, Seller shall at its option either (a) meet such lower price, or (b) permit Buyer to purchase from such source while such lower price is in effect, and the quantity purchased by Buyer will be deducted from any quantity covered by the Agreement.