Common use of Product Warranty and Product Liability Clause in Contracts

Product Warranty and Product Liability. Schedule 4.20 contains a true, correct and complete copy of Company's standard warranty or warranties for sales of Products (as defined below) and, except as stated therein, there are no warranties, commitments or obligations with respect to the return, repair or replacement of Products. Schedule 4.20 sets forth the estimated aggregate annual cost to Company of performing warranty obligations for customers of the Business for each of the two (2) preceding fiscal years and the current fiscal year to the date of the Recent Division Balance Sheet. Schedule 4.20 contains a description of all product liability claims and similar Litigation relating to Products manufactured or sold, or services rendered, which are presently pending or which to Company's knowledge are threatened, or which have been asserted or commenced against the Company in connection with its operation of the Business within the last two (2) years, in which a party thereto either requests injunctive relief or alleges damages in excess of Twenty-Five Thousand United States Dollars and No/100 (U.S. $25,000) (whether or not covered by insurance). None of the Products has been the subject of any replacement, field fix, retrofit, modification or recall campaign and, to Company's knowledge, no facts or conditions exist which could reasonably be expected to result in such a recall campaign. The Products have been designed and manufactured so as to meet and comply with all applicable governmental standards and specifications currently in effect, and have received all governmental approvals necessary to allow their sale and use. As used in this Section 4.20, the term "Products" means any and all products currently or at any time previously manufactured, distributed or sold by the Business, or by any predecessor of the Business under any brand name or xxxx under which products are or have been manufactured, distributed or sold by Company in or through the Business.

Product Warranty and Product Liability. Schedule 4.20 3.20 contains a true, correct and complete copy of Company's ’s standard warranty or warranties for sales of Products (as defined below) and, except as stated therein, there are no warranties, commitments or obligations with respect to the return, repair or replacement of Products. Schedule 4.20 3.20 sets forth the estimated aggregate annual cost to Company of performing warranty obligations for customers of the Business for each of the two (2) preceding fiscal years and the current fiscal year to the date of the Recent Division Balance Sheet. Schedule 4.20 3.20 contains a description of all product liability claims and similar Litigation relating to Products products manufactured or sold, or services rendered, which are presently pending or which to Company's ’s or any Seller’s knowledge are threatened, or which have been asserted or commenced against the Company in connection with its operation of the Business within the last two (2) years, in which a party thereto either requests injunctive relief or alleges damages in excess of Twenty-Five Thousand United States Dollars and No/100 (U.S. $25,000) (whether or not covered by insurance). There are no defects in design, construction or manufacture of Products which would adversely affect performance or create an unusual risk of injury to persons or property. None of the Products has been the subject of any replacement, field fix, retrofit, modification or recall campaign by Company and, to Company's ’s or any Seller’s knowledge, no facts or conditions exist which could reasonably be expected to result in such a recall campaign. The Products have been designed and manufactured so as to meet and comply with all applicable governmental standards and specifications currently in effect, and . Such products have received all governmental approvals necessary to allow their sale and use. As used in this Section 4.203.20, the term "“Products" ” means any and all products currently or at any time previously manufactured, distributed or sold by the BusinessCompany, or by any predecessor of the Business Company under any brand name or xxxx under which products are or have been manufactured, distributed or sold by Company in or through the BusinessCompany.

Product Warranty and Product Liability. Schedule 4.20 3.20 contains a true, correct and complete copy of Company's standard warranty or warranties for sales of Products (as defined below) and, except as stated therein, there are no warranties, commitments or obligations with respect to the return, repair or replacement of Products. Schedule 4.20 sets forth the estimated aggregate annual cost to Company of performing warranty obligations for customers of the Business for each of the two (2) preceding fiscal years and the current fiscal year to the date of the Recent Division Balance Sheet. Schedule 4.20 3.20 contains a description of all product liability claims and similar Litigation relating to Products products manufactured or sold, or services rendered, which are presently pending or which to Company's knowledge are threatened, or which have been asserted or commenced against the Company in connection with its operation of the Business within the last two three (23) years, in which a party thereto either requests injunctive relief or alleges damages in excess of Twenty-Five Thousand United States Dollars and No/100 (U.S. $25,000) 25,000 (whether or not covered by insurance). None of the Products Since 1985, there has been no adverse judgment or other final adjudicated claim or suit against the subject Company alleging a defect in design, construction or manufacture of any Products. Schedule 3.20 contains a description of all campaigns and programs of replacement, field fix, retrofit, modification or recall campaign by Company currently pending and, to Company's knowledge, no facts or conditions exist which could reasonably be expected to result in such a recall campaigncampaign or program. The Products have been designed and manufactured so as to meet and comply with all applicable governmental standards and specifications currently in effecteffect when the Products were sold, (or in the case of chasis, in effect when manufactured) including all National Highway Safety and Traffic Administration acts, rules or regulations. Such products have received all applicable governmental approvals necessary to allow their sale and use. As used in this Section 4.203.20, the term "Products" means any and all products currently or at any time previously manufactured, distributed or sold by the BusinessCompany, or by any predecessor of the Business Company under any brand name or xxxx under which products are or have been manufactured, distributed or sold by Company in Company, specifically excluding products similar to current Products that have not been manufactured, distributed or through sold by the BusinessCompany.

Product Warranty and Product Liability. Schedule 4.20 3.20 contains a true, correct and complete copy of Company's ’s standard warranty or warranties for sales of Products (as defined below) and, except as stated therein, and except for any other warranties which may be implied by the law of a particular state, there are no warranties, commitments or obligations with respect to the return, repair or replacement of Products. Schedule 4.20 3.20 sets forth the estimated aggregate annual cost to Company of performing warranty obligations for customers of the Business for each of the two three (23) preceding fiscal years and the current fiscal year to the date of the Recent Division Balance Sheet. Schedule 4.20 3.20 contains a description of all product liability claims and similar Litigation relating to Products products manufactured or sold, or services rendered, which are presently pending or which to Company's ’s or any Shareholder’s knowledge are threatened, or which have been asserted or commenced against the Company in connection with its operation of the Business within the last two three (23) years, in which a party thereto either requests injunctive relief or alleges damages in excess of Twenty-Five Thousand United States Dollars and No/100 (U.S. $25,000) (whether or not covered by insurance). To the knowledge of any Shareholder, there are no defects in design, construction or manufacture of Products which would adversely affect performance or create an unusual risk of injury to persons or property. None of the Products has been the subject of any replacement, field fix, retrofit, modification or recall campaign by Company and, to Company's ’s or any Shareholder’s knowledge, no facts or conditions exist which could reasonably be expected to result in such a recall campaign. The Products have been designed and manufactured so as to meet and comply with all applicable governmental standards and specifications currently in effect. To the knowledge of any Shareholder, and have received all such products do not require any governmental approvals necessary to allow their sale and use. As used in this Section 4.203.20, the term "“Products" ” means any and all products currently or at any time previously manufactured, distributed or sold by the BusinessCompany, or by any predecessor of the Business Company under any brand name or xxxx under which products are or have been manufactured, distributed or sold by Company in or through the BusinessCompany.