Common use of Licensed Software Warranty Clause in Contracts

Licensed Software Warranty. Exchange warrants to VAR (and not to any End User or Strategy Affiliate) that, during the first ninety (90) days following the delivery (in respect of the Developer Licenses, the Service Bureau License, and each Sublicense granted under the Reseller Licenses) of the Licensed Software (the "Warranty Period"), the Licensed Software will conform in all material respects to the specifications contained in the Documentation. Exchange's sole responsibility under this warranty shall be to correct or replace that portion of the Licensed Software which fails to conform to said warranty; PROVIDED, that VAR has reported in writing to Exchange any defect or error claimed to be a breach of warranty within the Warranty Period. If Exchange is unable to correct or replace the nonconforming Licensed Software within thirty (30) days of written notification to Exchange during the 90-day warranty period, Exchange shall reimburse VAR for the amount of license fees paid for the nonconforming Licensed Software, and the license for that nonconforming Licensed Software shall be immediately terminated.

Licensed Software Warranty. Exchange warrants to VAR (and not to any End User or Strategy Affiliate) that, during the first ninety (90) days following the delivery (in respect of the Developer Licenses, the Service Bureau License, and each Sublicense granted under the Reseller Licenses) of the Licensed Software (the "Warranty Period"), the Licensed Software will conform in all material respects to the specifications contained in the Documentation. Exchange's sole responsibility under this warranty shall be to correct or replace that portion of the Licensed Software which fails to conform to said warranty; PROVIDEDprovided, that VAR has reported in writing to Exchange any defect or error claimed to be a breach of warranty within the Warranty Period. If Exchange is unable to correct or replace the nonconforming Licensed Software within thirty (30) days of written notification to Exchange during the 90-day warranty period, Exchange shall reimburse VAR for the amount of license fees paid for the nonconforming Licensed Software, and the license for that nonconforming Licensed Software shall be immediately terminated.