Common use of Definition and Process Clause in Contracts

Definition and Process. In the event that during the five (5) year period after delivery of a Product an Epidemic Failure occurs in a Product, the following terms shall apply: (i) The party that discovers the failure will notify the other promptly; provided, however, that in the event Supplier discovers a failure that creates a risk of injury or death, Supplier will immediately notify Cisco and will also provide Cisco with written notice within twelve (12) hours of any notification made by Supplier to any governmental body responsible for regulation of product safety; (ii) Supplier shall provide to Cisco a preliminary plan for problem diagnosis within one (1) business day of the notification, which plan Supplier will revise on Cisco’s request; (iii) Supplier and Cisco will use commercially reasonable efforts to diagnose the problem, plan an initial work-around and effect a permanent solution; and (iv) Supplier and Cisco will mutually agree on a plan for customer notification, replacement scheduling and remediation, which may include field removal, return and reinstallation, work in process (“WIP”), inventory replacement, and repair, or retrofitting, regardless of location or status of WIP completion. Notwithstanding the foregoing Cisco may undertake any and all action necessary independently of Supplier.

Appears in 2 contracts

Sources: Master Purchase Agreement (SEALSQ Corp), Master Purchase Agreement (Wisekey International Holding S.A.)