Common use of Product Warranty; Product Liability Clause in Contracts

Product Warranty; Product Liability. (a) Except as set forth on Schedule 3.23 of the Disclosure Schedule, each product manufactured, sold or delivered by or on behalf of the Business to which an unexpired warranty for which the Company or the Business is liable has been in conformity in all material respects with all product specifications and all express and implied warranties. Neither Seller nor the Company has any material liability for replacement or repair of any such products or other damages in connection therewith or any other customer or product obligations not reserved against on the Balance Sheet. Neither Seller nor the Company has sold any products or delivered any services that included a warranty for a period of longer than three years. (b) Neither Seller nor the Company has committed any act or failed to commit any act which, in any case, would result in any material product liability or material liability for breach of warranty (whether covered by insurance or not) on the part of Seller or the Company with respect to the Business in excess of the applicable reserves set forth in the Balance Sheet with respect to products designed, manufactured, assembled, repaired, maintained, delivered or installed or services rendered prior to the Closing.

Product Warranty; Product Liability. (a) Except as set forth on Schedule 3.23 5.30(a) of the Disclosure Schedule, each product manufactured, sold or delivered by or on behalf of the Business to which an unexpired warranty for which the Company or any of the Subsidiaries in conducting the Business is liable has been in conformity in all material respects with all product specifications and all express and implied warranties. Neither Seller nor the Company nor any of the Subsidiaries has any material liability for replacement or repair of any such products or other damages in connection therewith or any other customer or product obligations not reserved against on the Balance Sheet. Neither Seller nor the Company nor any of the Subsidiaries has sold any products or delivered any services that included a warranty for a period of longer than three years18 months. (b) Neither Seller nor the Company nor any of the Subsidiaries has committed any act or failed to commit any act whichact, in any case, which would result in in, and there has been no occurrence which would give rise to or form the basis of, any material product liability or material liability for breach of warranty (whether covered by insurance or not) on the part of Seller or the Company with respect to the Business in excess or any of the applicable reserves set forth in the Balance Sheet Subsidiaries with respect to products designed, manufactured, assembled, repaired, maintained, delivered or installed or services rendered prior to the Closing.