Supplier Parent definition
Examples of Supplier Parent in a sentence
Notwithstanding the foregoing, upon any assignment of this Agreement by either Party, the Buyer Parent Guaranty or the Supplier Parent Guaranty, as applicable, will remain in full force and effect until Supplier or Buyer, as applicable, is issued and accepts alternate payment security.
Buyer shall indemnify, defend and hold harmless Supplier, Supplier Parent, Supplier’s Affiliates, and their respective officers, directors, members, agents and employees from and against any damage, injury or loss resulting from the failure of Buyer to comply with the foregoing.
Any damages, claims, demands, suits, causes of action, losses, costs, expenses and/or liabilities of Supplier, Supplier Parent and their Affiliates arising under this Agreement and the Warranty Agreement shall be applied towards the foregoing aggregate liability cap (i.e., shall reduce Supplier’s liability under this Agreement on a Dollar for Dollar basis).
Buyer agrees that it shall not terminate this Agreement in respect of any Supplier Event of Default under Section occurring with respect to Supplier, but not Supplier Parent, if Supplier Parent shall have (i) cured in all material respects all such Supplier Events of Default (other than any default under Sections or ) and (ii) if there is then also a Supplier Event of Default under Section or , irrevocably assumed this Agreement and the other Contract Documents.
As a material inducement to Buyer to enter into this Agreement, Supplier shall cause to be executed and delivered to Buyer no later than seven (7) days after receipt of the Notice to Proceed, the Supplier Parent Guaranty.
Any damages, claims, demands, suits, causes of action, losses, costs, expenses and/or liabilities of Supplier, Supplier Parent and their Affiliates arising under this Agreement and the Wind Turbine Supply Agreement shall be applied towards the foregoing aggregate liability cap (i.e., shall reduce Supplier’s liability under this Agreement on a Dollar for Dollar basis).
In entering into this MSA, Client Parent and Supplier Parent each acknowledge and agree that all aspects of the worldwide business relationship and dealings between Client and Supplier contemplated by this MSA and each Service Agreement, including the performance of all obligations and the exercise of all rights under this MSA and each Service Agreement, will be governed by the fundamental principle of good faith and fair dealing.
Notwithstanding the foregoing, upon any assignment of this Agreement by Supplier, the Supplier Parent Guaranty will remain in full force and effect until Buyer is issued and accepts alternate payment security.
Client Parent and Supplier Parent shall assure that each Client Contracting Party and Supplier Contracting Party, respectively, complies with this principle of good faith and fair dealing.
In order to provide a uniform mechanism for implementing the principles of this MSA, the provisions of this MSA, as between Supplier Parent and Client Parent, shall be applicable worldwide and shall be implemented by Client Parent and Supplier Parent, and their respective domestic and foreign subsidiaries and business units, entering into Service Agreements which incorporate the principles of the applicable provisions of this MSA, modified as may be necessary by reason of local Laws or commercial custom.