General Terms and Conditions
All capitalized terms used in this Agreement have the meanings set forth below:
1.1 “Active Inventory” is raw material that is still included in a bill of material of saleable feature or Product or is usable as a substitute through engineering approval.
1.2 “Affiliates” means, with respect to a party, any entity at any time controlling, controlled by or under common control with such Party; where “control” means directly or indirectly, having ownership of 50% or more of the outstanding ownership interest of such entity or the equivalent right under contract to control management decisions.
1.3 “Applicable Laws” means all applicable federal, national, regional, state, local, foreign laws, rules, acts, regulations, orders, including but not limited to laws pertaining to anti-bribery, anti-corruption, employment, import and export compliance, antitrust, environmental health, safety and electronic/product and waste take-back, together with regulatory and governmental permits, licenses, authorizations, and exemptions with respect to inter alia the environment, air, soil, (ground) water, underground storage tanks, waste, electricity, safety, zoning and the operations of the Supplier.
1.4 “Business Days” means each day of the week excluding Sunday, and any public holidays.
1.5 “Commercially Reasonable Efforts” means taking such steps and performing in a prudent, diligent, and reasonable manner to achieve a particular desired result for its own benefit and the benefit of all its customers.
1.6 “Company Information” means collectively the Confidential Information and trade secrets of a Party and/or a designated group including such Party. Company Information also includes information which has been disclosed to such Party and/or a designated group including such Party by a third party, which Party and/or a designated group including such Party is obligated to treat as confidential or secret.
1.7 “Confidential Information” means any and all proprietary business information (including, without limitation, Personally Identifiable Information) of the disclosing Party that is reasonably related to this Agreement and is designated as confidential by the disclosing Party, or the receiving Party knows is confidential or should know is confidential, including, without limitation, any and all proprietary information which the receiving Party becomes aware of as a result of its access to and presence at the other Party’s facility.
1.8 “Excess Inventory” means raw material that is Active Inventory, but current on hand inventory plus in transit inventory exceeds gross demand over 12 months.
1.9 “Forecast” means a forecast of the Products required by NCR Voyix as further described in Section 7.
1.10 “Improvement” means any modifications, improvements, enhancements or derivatives (including derivative works).
1.11 “Intellectual Property” has the meaning given to such term in the SDA.
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