Common use of Management of Third Party Contracts Clause in Contracts

Management of Third Party Contracts. Flextronics shall be responsible for managing applicable third party vendors as set forth in Exhibit 1 in order to provide Repair Services under this Agreement. 5.3.1 Where Nortel Networks has financial obligations in connection with contracts or other agreements relating to assets, inventory, facilities or services to which Nortel Networks is a party for the performance of Repair Services contemplated under this Agreement with a third party and in the event that Flextronics pursuant to such contracts or other agreements becomes liable to discharge the financial obligations contained therein to any third party due to a mutual decision by the Parties to terminate the relevant contract or other documented agreement, then Nortel Networks shall have an obligation to pay Flextronics a sum equal to the financial obligation required to be discharged by Flextronics. Any sums due and not recovered under this Section may be recovered by Flextronics from Nortel Networks as a debt. The parties hereby intend that this obligation shall survive the termination of this Agreement and will remain in effect until fulfilled.