New Product Development. For the purposes of this Agreement, all New Products shall be developed, if at all, at Popeil's sole cost and expense. A New Product shall be deemed appropriate for submission to Company in accordance with the terms and conditions of this Agreement, at such time, if ever, as the New Product has been conceived, created and designed and a working prototype of the New Product (a "Prototype") has been produced.
Appears in 3 contracts
Sources: New Product Development Agreement (Fi Tek Vii Inc), New Product Development Agreement (Ronco Corp), New Product Development Agreement (Ronco Corp)