master agreement entered into by and between nn europa aps sundkrogsade 5 dk 2100 copenhagen denmark ( hereinafter referred to as “ supplier ” ) and schaeffler kg industriestrasse 1 - 3 91074 herzogenaurach germany acting for itself and on behalf of the companies located in the federal republic of germany in which they or their respective shareholders individually or collectively, directly or indirectly hold a majority interest ( hereinafter referred to as “ customer ” ) ( each a “ party ” ; both, the “ parties ” ) page 1 of 17 © 2006 schaeffler kg, all rights reserved level : 07 / 2006 © 2006 schaeffler kg, all rights reserved level : 07 / 2006 level : 07 / 2006 1. subject matter of master agreement 1. 1. subject matter of master agreement 1. 1 this master agreement shall govern supplier's long - term obligation to supply customer with certain products ( hereinafter the “ contract products ” ) and the rights and obligations of the parties associated therewith. 1. 1 1. 1 this master agreement shall govern supplier's long - term obligation to supply customer with certain products ( hereinafter the “ contract products ” ) and the rights and obligations of the parties associated therewith. 1. 2 all agreements and transactions of the parties shall be governed exclusively by the following terms and conditions. the application of supplier's general terms and conditions or customer's general purchasing conditions is hereby expressly excluded. the terms and conditions of this master agreement shall apply even when not expressly referenced in the applicable purchase order or scheduling agreement, and even when the supplier or customer refers to general terms and conditions and the other party fails to expressly object to the incorporation of these terms and conditions. 1. 2 all agreements and transactions of the parties shall be governed exclusively by the following terms and conditions. the application of supplier's general terms and conditions or customer's general purchasing conditions is hereby expressly excluded. the terms and conditions of this master agreement shall apply even when not expressly referenced in the applicable purchase order or scheduling agreement, and even when the supplier or customer refers to general terms and conditions and the other party fails to expressly object to the incorporation of these terms and conditions. 1. 2 1. 2 all agreements and transactions of the parties shall be governed exclusively by the following terms and conditions. the application of supplier's