Common use of Rejection of Product Clause in Contracts

Rejection of Product. (a) Schering may reject any shipment of Product from ICN that does not meet ICN's warranty set forth in Section 8.4, upon notice to ICN delivered within forty five (45) days after receipt by Schering of such shipment or, in the case of any latent defect, after Schering discovered or had a reasonable basis for discovering such defect. Any shipment of Product that is not rejected by Schering within such period shall be deemed accepted. In no event shall ICN be liable for any nonconformity of the Product resulting from the shipment, storage or handling of the Product after tender by ICN in accordance with Section 8.2(g) (unless resulting from the fault of ICN, such as not shipping in accordance with agreed specifications), or the tampering, alteration or mishandling of the Product by any person (including any customer of Schering) following such tender.

Appears in 6 contracts

Samples: Stock Purchase Agreement (Icn Pharmaceuticals Inc), Exclusive License and Supply Agreement (Ribapharm Inc), Exclusive License and Supply Agreement (Ribapharm Inc)

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Rejection of Product. (a) Schering may reject any shipment of Product from ICN that does not meet ICN's warranty set forth in Section 8.4, upon notice to ICN delivered within forty five (45) days [REDACTED] after receipt by Schering of such shipment or, in the case of any latent defect, after Schering discovered or had a reasonable basis for discovering such defect. Any shipment of Product that is not rejected by Schering within such period shall be deemed accepted. In no event shall ICN be liable for any nonconformity of the Product resulting from the shipment, storage or handling of the Product after tender by ICN in accordance with Section 8.2(g) (unless resulting from the fault of ICN, such as not shipping in accordance with agreed specifications), or the tampering, alteration or mishandling of the Product by any person (including any customer of Schering) following such tender.

Appears in 1 contract

Samples: Stock Purchase Agreement (Icn Pharmaceuticals Inc)

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