Contracts with Related Parties. Goods supplied and services rendered, if any, to Limited by a Member or an Affiliate thereof shall not constitute a Capital Contribution to the capital of Limited by such Member and shall not be reimbursable by Limited except as specifically provided in this Section 4.3, or as otherwise agreed by all the Members. Goods supplied and services rendered, if any, by Limited to any Member or its Affiliates shall not be deemed a return of capital to such Member. Limited will offer to either Member (for the Member's own use or use in conjunction with other goods and/or services provided by such Member to third parties) its goods and/or services on an arms'-length basis. It is contemplated that one or more Affiliates of WECC will provide sales and related services for the Partnership from time to time. Such services shall be on an arms'-length basis, on terms mutually agreeable between the Partnership and WECC or such Affiliate of WECC, and on terms approved by all other Partners. Preapproved Contracts need not be approved on a contract by contract basis.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Weatherford International Inc /New/)
Contracts with Related Parties. Goods supplied and services rendered, if any, to Limited the Partnership by a Member Partner or an Affiliate thereof shall not constitute a Capital Contribution to the capital of Limited the Partnership by such Member Partner and shall not be reimbursable by Limited the Partnership except as specifically provided in this Section 4.35.9, or as otherwise agreed by all the MembersPartners. Goods supplied and services rendered, if any, by Limited the Partnership to any Member Partner or its Affiliates shall not be deemed a return of capital to such MemberPartner. Limited The Partnership will offer to either Member Partner (for the MemberPartner's own use or use in conjunction with other goods and/or services provided by such Member Partner to third parties) its goods and/or services on an arms'-length basis. It is contemplated that one or more Affiliates of WECC will provide sales and related services for the Partnership from time to time. Such services shall be on an arms'-length basis, on terms mutually agreeable between the Partnership and WECC or such Affiliate of WECC, and on terms approved by all other Partners. Preapproved Contracts need not be approved on a contract by contract basis.
Appears in 1 contract
Sources: Limited Partnership Agreement (Weatherford International Inc /New/)