Common use of TERM AND SCOPE OF AGREEMENT Clause in Contracts

TERM AND SCOPE OF AGREEMENT. 2.1 This Agreement shall be effective for a period of ten (10) years from the Effective Date, unless terminated earlier in accordance with Section 14 (the “Initial Term”). Unless otherwise terminated prior to expiration as provided herein, the Initial Term and any renewal term shall automatically renew unless one Party notifies the other of its intent not to renew at least three (3) years prior to the expiration of the then-current term subject, however, to the provisions of this Agreement relating to amendment, modification and termination thereof. 2.2 Buyer is permitted to submit Purchase Orders per Rolling Forecast (as defined in 12.1) and under consideration of the Lead Times for deliveries to be fulfilled up to [*] after the written notice of termination of this Agreement by either party in accordance with section 14.1. Such Purchase Orders shall be filled upon acceptance in accordance with Section 4 hereof, or for such longer period as may be required to fulfill the Purchase Orders and delivery of the Products as set forth in the relevant Purchase Orders and mutually agreed upon between the parties. 2.3 Buyer may also submit a Purchase Order representing a last time buy of a Product(s) (“Last Time Buy Order”) up to [*] after the written notice of termination of this Agreement by either party in accordance with section 14.1 or [*] after any discontinuance of a Product Type (whichever is earlier), and Seller shall supply such Product(s) in accordance with this Agreement. A Last Time Buy Order is limited to [*] in the [*] prior to the date of the Last Time Buy Order. Delivery of the Product(s) in a Last Time Buy Order will occur within [*] after the Last Time Buy Order is placed unless the production of the parts ordered in the Last Time Buy reasonably requires a longer period or otherwise agreed between the Parties. 2.4 Seller may discontinue a Product Type by [*] advance written notice to Buyer. Buyer may place Last Time Buy Orders for discontinued Product Types according section to 2.3. Notwithstanding the first sentence of this Section 2.4, if the overall quantity of a [*] drops below [*] Wafers per [*] Seller is permitted to discontinue delivery [*] after notice of discontinuation. 2.5 This Agreement is limited only to the supply of the specification of Products by SiTime and manufacture of Products by Bosch. The terms and conditions contained herein or in any exhibit or attachment hereto (including, without limitation, all Scopes of Work or Statements of Work) shall, in all instances, be construed to apply only to such Products. The Parties, however, may subsequently agree to extend the terms and conditions of this Agreement to the manufacture of Products by executing additional exhibits or attachments hereto expressly setting forth such intent.