Common use of Repair or Replace Clause in Contracts

Repair or Replace. As LipoScience’s sole and exclusive remedy for any breaches of the KMC Warranty, KMC will, at KMC’s option, repair or replace without charge, any Instrument manufactured by it, which is found by KMC to be so defective; provided, however, that (a) the Instrument is returned in accordance with KMC’s Return Material Authorization (“RMA”) process, (b) the Instrument, subassembly or component involved is returned by transportation designated by KMC to a location designated by KMC, and at the cost of KMC, and (c) KMC is notified by LipoScience in writing of the defect within thirty (30) days of the expiration of the Warranty Period set forth in Section 12.1 hereof.