Common use of DEFECTIVE COST OR PRICING DATA Clause in Contracts

DEFECTIVE COST OR PRICING DATA. a. If Seller, its subcontractor, or prospective subcontractor fails to submit accurate, complete and current cost or pricing data, and, as a result of that failure, the Government reduces the price of Buyer’s prime contract, Buyer may recover from Seller an amount equal to the price reduction of the prime contract. b. If, as a result of Seller’s or its subcontractor’s foregoing conduct, the Government imposes a ▇▇▇▇ lty on or charges Buyer interest, Buyer may recover from Seller the amount of that interest or ▇▇▇▇ lty. c. For the purposes of paragraphs a. and b. of this Article 18, if Buyer is a higher tier subcontractor, “Government” means the higher tier contractor and “prime contract” means the higher tier subcontract.

DEFECTIVE COST OR PRICING DATA. a. If Seller, its subcontractor, or prospective subcontractor fails to submit accurate, complete and current cost or pricing pric ing data, and, as a result of that failurefailure , the Government reduces the price of Buyer’s prime contract, Buyer may recover from Seller an amount equal to the price reduction of the prime contract. b. If, as a result of Seller’s or its subcontractor’s foregoing conduct, the Government imposes a ▇▇▇▇ lty on or charges Buyer interest, Buyer may recover from Seller the amount of that interest or ▇▇▇▇ lty. c. For the purposes of paragraphs a. and b. of this Article 18, if Buyer is a higher tier subcontractor, “Government” means the higher tier contractor and “prime contract” means the higher tier subcontract.