Common use of PRODUCT CODES Clause in Contracts

PRODUCT CODES. (a) Exhibit A sets forth a product code and pricing for each titanium product form currently expected to be manufactured utilizing Titanium Conversion Services. This list will be updated as required during the term of this Agreement. (b) In the event TIMET desires to develop new process practices, operating procedures and product specifications for Titanium Conversion Services for which a product code is not listed on Exhibit A, TIMET shall promptly notify ▇▇▇▇▇▇, and process practices, operating procedures and product specifications for such product codes shall be jointly developed by TIMET and ▇▇▇▇▇▇ as promptly as reasonably practical. Once ▇▇▇▇▇▇ and TIMET complete trials and agree upon the process practices, operating procedures, product specifications and Maximum Cycle Time, the product shall be assigned a product code. The Parties then promptly shall prepare and execute an updated Exhibit A to incorporate such new product and its corresponding Maximum Cycle Time, Base Price and product code. The initial Base Price for additional services provided under this Agreement shall be established at [ * ]. All capital costs incurred that are required to develop such process practices, operating procedures and product specifications for any product codes added to Exhibit A pursuant to this Section 2.3(b) shall be shared equally between the Parties and, unless otherwise agreed to in writing by the head of manufacturing of each Party, no process qualification may require a total capital expenditure in excess of [ * ]. TIMET shall reimburse ▇▇▇▇▇▇ for the cost of trial rolling services performed while developing such process practices, operating procedures and product specifications for new product codes at [ * ].