Test Material definition
Examples of Test Material in a sentence
Licensee shall be responsible for packing, crating, shipping and transporting the Test Material and all costs associated therewith.
Licensee represents to Licensor that the Ram Premises are safe and secure and that access to the Test Material will be limited to the Licensee and its consultant which access shall be governed by the terms of the Confidentiality Agreement.
Licensor shall provide Licensee with, but not title to, the Test Engine on test stand, all related drawings or other intellectual property, that Licensor feels would aid Licensee in its refinement efforts (collectively the "Test Material").
Licensee shall be responsible for all damage from whatever cause or source caused to the Test Material, while the Test Material is off of Licensor's business premises.
Moreover, Licensee shall provide Licensor with an insurance policy providing general comprehensive liability coverage for Licensor in relation to the Test Material that meets the specifications of the License Agreement.
Licensee shall not remove the Test Material from the Ram Premises without the prior written approval of the Licensor.
The insurance policy(ies) shall be delivered by Licensee to Licensor before the Test Material is removed from Licensor's business premises.
Licensee shall insure the Test Material against all damage and loss for its full replacement value which is currently estimated to be $250,000 with Licensor named as the sole loss payee; Licensor calculates it has expended approximately $2,500,000.00 on Licensee's Diesel 855 engine.
In addition, Sponsor shall provide Laboratory with information to apprise Laboratory of the stability of the Test Material, proper storage and safe handling requirements, including a Material Safety Data Sheet (MSDS) or equivalent documentation (“Safety Information”).
Sponsor will provide Laboratory with the Test Material with which to perform the Study, as well as such know-how, information and data (“Sponsor Know-How”) as Sponsor deems necessary to enable Laboratory to conduct each Study.