IAA’s Right of Rejection Clause Samples

The 'IAA’s Right of Rejection' clause grants the Independent Auctioneer Authority (IAA) the explicit power to refuse acceptance of certain goods, bids, or participants in an auction. In practice, this means the IAA can decline items that do not meet specified standards or reject bids that fail to comply with auction rules, ensuring only qualified goods and participants are involved. This clause serves to protect the integrity of the auction process, prevent disputes, and maintain quality control by giving the IAA discretion to enforce standards and rules.
IAA’s Right of Rejection. 12.11.1. The IAA reserves the right to reject any Component which (i) shall not meet, according to the IAA's opinion and sole discretion, the requirements stipulated in the Technical Specifications, or (ii) have been found by the IAA to be inferior to the Components stipulated by the Supplier in its Proposal. In case of such rejection, it shall be the Supplier's responsibility to replace such Components with one that meet the abovementioned requirements, at its expense. 12.11.2. When giving notice of rejection, the IAA shall return the rejected Component (or any part thereof). In such case, the Supplier shall replace such rejected Component (or any part thereof), within 30 days after receipt of the notice of the rejection, with delivery DAP, at the relevant Site. The replaced Component shall be in all respects in accordance with this Contract. 12.11.3. Any expense incurred by the IAA due to its exercise of its right of rejection under this section 12.11, shall be borne by the Supplier. 12.11.4. The exercise or non-exercise of the IAA's right of rejection as aforesaid, shall not derogate from Supplier's obligations under this Contract.
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IAA’s Right of Rejection. 8.6.1. The IAA reserves the right to reject any Units and/or Spare Part which (i) shall not meet, according to the IAA's opinion and sole discretion, the requirements stipulated in the SOW, or (ii) have been found by the IAA to be inferior to the Units and/or Spare Parts stipulated by the Supplier in its Proposal. In case of such rejection, it shall be the Supplier's responsibility to provide such Units and/or Spare Parts which shall meet the abovementioned requirements, at its expense. Any notice of rejection given by the IAA according to this section should be given within 14 days from the date of completion of the SAT (as defined below). 8.6.2. When giving notice of rejection, the IAA shall return the rejected Units and/or Spare Parts (or any part thereof). In such case, the Supplier shall replace such rejected Units and/or Spare Parts, within the schedule specified in the notice of the rejection, with delivery FCA, at Ashdod/Haifa seaport. The replacement Units and/or Spare Parts shall be in all respects in accordance with this Contract. 8.6.3. Any expense incurred by the IAA due to its exercise of its right of rejection under this section 8.6.3 shall be borne by the Supplier. 10 8.6.4. The exercise or non-exercise of the IAA's right of rejection as aforesaid, shall not derogate from Supplier's obligations under this Contract.
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Related to IAA’s Right of Rejection

  • Right of Revocation Guarantor understands and agrees that Guarantor may revoke its future obligations under this Guaranty at any time by giving Bank written notice that Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Bank receives such notice delivered either by: (a) personal delivery to the address and designated department of Bank identified in subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Bank at the address shown in subparagraph 1 (a) above. Notwithstanding such revocation, Guarantor shall remain liable on its obligations hereunder until payment in full to Bank of (x) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (y) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by Guarantor.

  • Right of Refusal Vendor has the right not to sell to a TIPS Member under the awarded agreement at Vendor’s discretion unless otherwise required by law.

  • Right of Re-Entry Upon the occurrence of a Default, Landlord may elect to terminate this Lease or, without terminating this Lease, terminate Tenant's right to possession of the Premises. Upon any such termination, Tenant shall immediately surrender and vacate the Premises and deliver possession thereof to Landlord. Tenant grants to Landlord the right to enter and repossess the Premises and to expel Tenant and any others who may be occupying the Premises and to remove any and all property therefrom, without being deemed in any manner guilty of trespass and without relinquishing Landlord's rights to Rent or any other right given to Landlord hereunder or by operation of law.

  • First Right of Refusal If any Partner shall enter into an agreement to sell their ownership interest in the Partnership with an individual or entity that is not a current Partner, the following parties must be given a first right of refusal before such a transaction can take place:

  • Right of Reference Section 1: If the two Parties fail to agree upon an interpretation of the Agreement, either Party shall have the right to refer the matter to the Joint Industry Committee, hereinafter provided, and if either party does make such reference, the other Party must accept the reference. Section 2: The Joint Industry Committee shall consist of three (3) representatives selected by the USW. Negotiating Committee and three (3) representatives selected by the Employers represented in the negotiations of this Agreement, and the two (2) committees may be represented by one (1) or more Parties selected by them. Section 3: When an interpretation of the Agreement has been referred to the Joint Committee, this reference shall be for the period of forty-eight (48) hours or longer by mutual consent of the Parties to this Agreement. In case the Joint Committee agrees upon a recommendation or interpretation, this shall be furnished in writing to the Union involved and to the Employer. Section 4: In the event the Joint Committee members disagree, all the facts in the case as found by the Union and Union members of the Joint Committee shall be placed in writing by the Union representatives and submitted to the Employer and to the Union Members involved. The facts in the case as found by the Employer and the employer members of the Joint Committee shall be placed in writing and given to the Union member employees for their information. Section 5: If a satisfactory interpretation of the point in question is not reached, either Party may refer the question to arbitration as hereinafter provided.