Sole Supplier SUMF definition

Sole Supplier SUMF has the meaning given to this term in Article 4.2;

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Sole Supplier SUMF means the supply of SUMF Items which cannot be terminated by the Purchaser or the Supplier except by way of termination of this Agreement as a whole;

Sole Supplier SUMF has the meaning given to this term in Article 4;

Examples of Sole Supplier SUMF in a sentence

• Conversely, the Purchaser shall pay the reasonable costs, including personnel termination costs (including those actuarially determined) determined in accordance with Article 10.8, which result from the Supplier’s fixed cost reduction efforts in response to a permanent or long-term reduction by the Purchaser of a Sole Supplier SUMF Item or a Long Term SUMF Item.

• Depending on the classification of the schedule (Sole Supplier SUMF, Long Term SUMF or Short Term SUMF), the schedules can be reviewed each year during the Annual Budgeting Plan and Budget and approved for the following calenderyear.

• Depending on the classification of the schedule (Sole Supplier SUMF, Long Term SUMF or Short Term SUMF), the schedules can be reviewed each year during the Annual Budgeting Plan and Budget and approved for the following calender year.

More Definitions of Sole Supplier SUMF

Sole Supplier SUMF has the meaning given to this term in Article 4; “Steering Committee” means a steering committee consisting of senior representatives of Hexion and Shell (for the Supplier the Site General Manager or a delegated person from the Site leadership team and for the Purchaser a person with similar seniority) and which has responsibilities beyond the daily operation of the Plant. The steering committee shall discuss any matters of a general nature and any matters which are fundamental to the performance of this Agreement pursuant to its terms. The establishment, composition, roles and responsibilities of this committee are set out in Schedule 16; “Strategic Acquirer” means a type of acquiring entity that currently operates in the same or similar industry or business as the target company, and which acquires with the intention of integrating such target company into its existing business or operations with a goal of long-term return on investment tied not only to operation of the target company, but by realizing synergies through its integration into the acquirer’s existing business. For purposes of this definition “Strategic Acquirer” does not include financial sponsors such as private equity or hedge fund purchasers, or the entity vehicles they utilize to acquire the target company; “SUMF” means the site services, utilities, materials and facilities to be supplied under this Agreement; “SUMF Assets” means those assets (including all ancillary equipment specifically attributable to these assets and excluding common facilities used for other purposes) of the Supplier directly or indirectly used in the provision of SUMF; “SUMF Charge(s)” or “Charge(s)” means the charge(s) to be paid by the Purchaser to the Supplier for each SUMF Item in accordance with Article 5 and Article 6; “SUMF Item” or “Item of SUMF” means any part of SUMF; “Supplier” means the party who supplies or operates a particular SUMF Item; “Tax” means all forms of taxation, duties, levies, imposts and other similar impositions of any jurisdiction (whether central, regional or local), and any payment which a Party may be or become bound to make to any tax authority as the result of the operation of any enactment or other law relating to any of them or resulting from failure to comply with the provisions of any law relating to any of them; “Third-Party” means any person or company other than the Supplier, the Purchaser or their respective Affiliates; “Third -Party Claim” means any claim for Loss or Dam...