Services by Subsidiary Clause Samples
The "Services by Subsidiary" clause allows a party to fulfill its contractual obligations by having its subsidiary or affiliated companies provide the agreed-upon services instead of performing them directly. In practice, this means that if a parent company enters into a contract, it can delegate the actual work to one of its subsidiaries, which may have specialized expertise or resources. This clause provides flexibility in service delivery and ensures that the contracting party can leverage its corporate structure to meet its obligations efficiently, addressing potential concerns about who is performing the work while maintaining accountability.
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Services by Subsidiary. Subsidiary may from time to time provide services to Masimo as specified in Schedule 1 (the “Subsidiary Services”). Unless the parties agree otherwise, Masimo shall pay Subsidiary a fee equal to the costs expended by Subsidiary in rendering the Subsidiary Services hereunder plus a 5% ▇▇▇▇-up on such costs (the “Services Fee”), such Services Fee payable in quarterly installments.