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Unless the context otherwise indicates or requires, the following words and expressions shall have the meaning ascribed to them below:
Absorption shall mean the manufacturing variance at a given Plant created by deficits or surpluses, as applicable, of Buyers actual purchased volumes of Product from such Plant versus Buyers budgeted volumes of Product from such Plant that are set forth in or contemplated by the applicable Annual Budget.
Accounting Principles shall have the meaning prescribed in Section 4.1 of this Agreement.
Acquired Party shall have the meaning prescribed in Section 22.1 of this Agreement.
Acrylamide Monomer shall have the meaning prescribed in Section 11.2 of this Agreement.
Affiliate or Affiliates shall mean, with respect to either Party, any other Person controlling, controlled by or under common control with such Party. For purposes of this definition, the term control (and correlative terms) means the power, whether by contract, equity ownership or otherwise, to direct the policies or management of a Person.
Agreement shall mean this document and the attached Schedules, and any other document identified and incorporated herein.
Annual Budget shall have the meaning prescribed in Section 4.1 of this Agreement.
Applicable Environmental Law shall mean any statute, law, rule, regulation, ordinance, code, policy or rule of common law of any Governmental Authority now in effect and in each case as amended from time to time, and any judicial or administrative interpretation thereof, including any judicial or administrative order, consent decree, or judgment, relating to the environment, human health, hazardous materials or waste materials.
Applicable Law shall mean applicable statutes, laws, rules, regulations, ordinances, orders, guidelines and requirements including statutes, laws, rules, regulations, guidelines and requirements related to the development, registration, manufacture, labeling, shipping and marketing of Products and including Applicable Environmental Laws.
Business Day for each country where Product is Manufactured shall mean the day within a standard five-day work week and excludes days when the national banks of such country are closed for business due to national holiday or observance.
Buyer-Specific RM&I means RM&I that is both (i) required to Manufacture a Product and (ii) not used in Producers then-current operations.
Buying Party or Buyer shall mean the Party that is acquiring a Product from Producer.
Buyer Unique Products shall mean any Products that are Manufactured at a given Plant only for Buyer.