VERIFICATION AND QUALIFICATION OF CONTRACT PRODUCTS Sample Clauses

VERIFICATION AND QUALIFICATION OF CONTRACT PRODUCTS. For any new CONTRACT PRODUCTS, the following procedures shall apply: • For the purpose of verification of the design of a CONTRACT PRODUCT and for the purpose of verifying that WAFERS can be manufactured using the PRODUCT TECHNOLOGY, ADESTO may issue a Purchase Order to ALTIS for a PROTOTYPE LOT. The PARTIES will agree on a reduced set of ACCEPTANCE CRITERIA applicable for such PROTOTYPE LOT. Upon agreement on such reduced set of ACCEPTANCE CRITERIA and receipt of ADESTO’s purchase order for such PROTOTYPE LOT, ALTIS will manufacture such PROTOTYPE LOT WAFERS. • Electrical YIELD results are not committed for these WAFERS and no warranty would apply. • ALTIS will provide technical parameters agreed in ACCEPTANCE CRITERIA and other related information of the Product to ADESTO once the manufacture of the PROTOTYPE LOT WAFERS is completed. • ADESTO will qualify the PROTOTYPE LOT WAFERS manufactured by ALTIS and provide the related written analysis report to ALTIS. • Prior to Release, ADESTO may send ALTIS a written request that ALTIS provide RISK START WAFERS. Following such RISK START request, the PARTIES will agree on a reduced set of ACCEPTANCE CRITERIA applicable for such RISK STARTS. Upon * Confidential Treatment Requested agreement on such reduced set of ACCEPTANCE CRITERIA and receipt of ADESTO’s purchase order for such RISK STARTS, ALTIS will manufacture such RISK START WAFERS. • Prior to Release, ADESTO may stop production of WAFERS for any or all CONTRACT PRODUCTS under verification by giving written notice to ALTIS. ALTIS will stop production at suitable production steps following completion of the process step at which the WAFERS reside at the time of ALTIS’ receipt of such notification. If ADESTO requests in writing, that such WAFERS have to be scrapped, ALTIS shall invoice and ADESTO shall pay price for WAFERS as defined in Article 2 of the AGREEMENT • The completion of the QUALIFICATION by ADESTO for each individual CONTRACT PRODUCT manufactured by ALTIS is a prerequisite for ordering and delivery of EARLY PRODUCTION and PRODUCTION WAFERS.
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Related to VERIFICATION AND QUALIFICATION OF CONTRACT PRODUCTS

  • Formation and Qualification (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto. (b) The only Subsidiaries of each Borrower are listed on Schedule 5.2(b).

  • Maintenance of Existence and Qualifications Each Restricted Person will maintain and preserve its existence and its rights and franchises in full force and effect and will qualify to do business in all states or jurisdictions where required by applicable Law, except where the failure so to qualify will not cause a Material Adverse Change.

  • Diversification and Qualification 6.1. The Adviser will ensure that the Fund will at all times invest money from the Contracts in such a manner as to ensure that the Contracts will be treated as variable annuity contracts under the Internal Revenue Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will comply with Section 817(h) of the Internal Revenue Code and Treasury Regulation 1.817-5, as amended from time to time, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulation. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps: (a) to notify the Company of such breach; and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Treasury Regulation 1.817-5. 6.2. The Fund represents that it is or will be qualified as a Regulated Investment Company under Subchapter M of the Internal Revenue Code, and that it will make every effort to maintain such qualification (under Subchapter M or any successor or similar provisions) and that it will notify the Company immediately upon having a reasonable basis for believing that it has ceased to so qualify or that it might not so qualify in the future. 6.3. The Company represents that the Contracts are currently, and at the time of issuance shall be, treated as life insurance or annuity insurance contracts, under applicable provisions of the Internal Revenue Code, and that it will make every effort to maintain such treatment, and that it will notify the Fund and the Distributor immediately upon having a reasonable basis for believing the Contracts have ceased to be so treated or that they might not be so treated in the future. The Company agrees that any prospectus offering a contract that is a "modified endowment contract" as that term is defined in Section 7702A of the Internal Revenue Code (or any successor or similar provision), shall identify such contract as a modified endowment contract.

  • Incorporation and Qualification The Company has been duly organized and is validly existing as a Corporation and in good standing under the laws of the State of Colorado with the requisite corporate power and authority to own and use its properties and assets and to carry on its business as currently conducted.

  • Documents Establishing the Eligibility and Qualifications of the Tenderer 16.1 To establish Tenderer eligibility in accordance with ITT 4, Tenderers shall complete the Form of Tender, included in Section IV, Tendering Forms. 16.2 The documentary evidence of the Tenderer qualifications to perform the Contract if its Tender is accepted shall establish to the Procuring Entity's satisfaction: a) that, if required in the TDS, a Tenderer that does not manufacture or produce the Goods it offers to supply shall submit the Manufacturer's Authorization using the form included in Section IV, Tendering Forms to demonstrate that it has been duly authorized by the manufacturer or producer of the Goods to supply these Goods in Kenya; b) that, if required in the TDS, in case of a Tenderer not doing business within the Kenya, the Tenderer is or will be (if awarded the Contract) represented by an Agent in the country equipped and able to carry out the Supplier's maintenance, repair and spare parts-stocking obligations prescribed in the Conditions of Contract and/or Technical Specifications; and c) that the Tenderer meets each of the qualification criterion specified in Section III, Evaluation and Qualification Criteria.