TOOLING ARGREEMENT
Agreement is made between SANKYO KANEHIRO (THAILAND) CO.,LTD. Bangkok Office at 11th Floor, Serm-mit Tower, 159 Sukhumvit 21 Road, Wattana, Bangkok 10110 (hereinafter “Seller “) and P QUALITY MACHINE PARTS CO.,LTD. Principle office at 188/8-9 Moo 1 Theparak Road, T. Bangsaothong A. Bangsaothong Samutprakarn 10540 (hereinafter “ Buyer”) for production tooling (hereinafter “ Tooling”) paid for by Buyer including molds,dies,jigs, and any devices that are used in manufacture of Buyer’s products specified in Appendiz1
1. Tooling shall be the property of Buyer. Any drawing and /or technology provided by Buyer to design And fabricate shall be Tooling shall be a part of tooling. And production tooling is
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2. Buyer has the right to remove Tooling from Seller’s promises. Seller will remove tooling to Buyer by incomplete tooling only.
3. Modification and/or Sub-contracting of Tooling without Buyer’s prior approval in writing shall be prohibited.
4. Seller shall not use Tooling except in manufacturing Buyer’s products
5. Seller shall store Tooling in a manner to prevent deterioration.
6. Preventive maintenance for Tooling shall be performed by Seller at no charge to Buyer.
7. Seller shall accept the periodic inspection of Tooling performed by applicable Buyer’s personnel.
8. In the event that repair and/or renewal of Tooling is required regard to and failure/damage caused from Seller handling, Seller shall be responsible for the repair and/or renewal at no charge to Buyer.
9. Upon Buyer’s request, Seller shall present Buyer insurance documents to assure the coverage of investment for Tooling.
10. Upon Buyer’s request, Seller shall present Buyer’s inventory Status Report for all Buyer’s Tooling.
This Agreement shall be effective on the date lastly signed below and shall remain in force for a period of fifteen (15) years from the effective date.
This Agreement shall be automatically extended for additional successive fifteen years periods unless either
Party gives written notice of termination to the other party no less than one (1) months periods to the expiration.
IN WITHNESS WHEREOF, the parties have caused their duly authorized representatives to affix their respective signatures unto two originals of this instrument the day and year first above written