Right to Appoint Subsidiaries Sample Clauses
The "Right to Appoint Subsidiaries" clause grants a party the authority to designate one or more of its subsidiary companies to perform certain obligations or exercise specific rights under the agreement. In practice, this means that instead of the parent company directly fulfilling contractual duties, it can delegate these responsibilities to a wholly or partially owned subsidiary, such as for delivering goods, providing services, or receiving payments. This clause is particularly useful for organizations with complex corporate structures, as it provides operational flexibility and can help streamline business processes while ensuring that contractual obligations are still met.
Right to Appoint Subsidiaries. FASL hereby grants to AMD the right during the Term to appoint any Subsidiary as a subdistributor or sales representative of AMD, provided that such appointment is on terms and conditions consistent with this Agreement, including that any such Subsidiary will abide by the inventory restrictions applicable to AMD pursuant to Section 2.3.3.
Right to Appoint Subsidiaries. Spansion hereby grants to Fujitsu the right during the Term to appoint any Subsidiary as a sub-distributor or sales representative of Fujitsu, provided that Fujitsu provides prior written notice to Spansion of any appointment, and such appointment is on terms and conditions consistent with this Agreement, including that any such Subsidiary will abide by the inventory restrictions applicable to Fujitsu pursuant to Section 2.3.3. * Confidential treatment has been requested pursuant to the Confidential Treatment Request dated October 21, 2005.