Common use of Validity of Prices Clause in Contracts

Validity of Prices. 5.2.1 The prices are the Seller's published prices in effect on the date of receipt of the order (subject to reasonable quantities and delivery time) and will be expressed in US dollars. Payment will be made by the Buyer to the Seller in US dollars as set forth below in Subparagraph 6.1. 5.2.2 Prices of Seller Parts will be in accordance with the then current Seller's Spare Parts Price List. Prices will be firm for each calendar year. The Seller, however, reserves the right to revise the prices of Seller Parts during the course of the calendar year in the event of manifest error in estimation or expression of any price. In the event of a significant revision in manufacturing costs or a significant revision in the purchase price to the Manufacturer of Seller Parts (including significant variation in exchange rate) during any particular calendar year, the Seller will notify the Buyer of such revisions, whereupon the Buyer may, within such quantities of affected Seller Parts still available for sale at the former prices, order such quantities of said Seller Parts reasonably required to maintain its customary stock levels of such Seller Parts for the remainder of the calendar year in effect at that time provided the Seller is not thereby required to deplete the Seller's AOG inventory level unless such Seller Parts are required by the Buyer on an AOG basis. In the event the Seller is out of stock of such Seller Parts at the former prices, the Seller will, upon request by the Buyer, reasonably substantiate the price revisions affecting such Seller Parts. 5.2.4 Prices of Material as defined above in Subparagraphs 1.1