Average Yield Sample Clauses

Average Yield. An Insured’s average yield is based on the average of the yield records AFSC has recorded for honey. Yield records are gathered in different ways, including: i. Harvested Production Reports (HPR) provided by the Insured; ii. Yield information gathered by AFSC adjusters who visit the farm, and iii. Production reviews conducted by AFSC adjusters to confirm the accuracy of HPR information.

Average Yield. Only for the Customer Material as identified in the Product Addendum: After the Manufacture of the first [***] commercial Batches of Product after process validation, the Parties shall calculate the average yield for a Customer Material for [***] Batches, deducting the Batches with the highest and the lowest yield. The ratio of kilogram Customer Material used per kilogram of Product of these Batches is the average yield (“Initial Average Yield”). For the following years ▇▇▇▇▇▇ shall calculate the Average Yield based on all released commercial Batches manufactured (“Average Yield”). Corden shall recalculate the Initial Average Yield in case of changes to the Product or the Manufacturing Process. At the beginning of each subsequent calendar year, ▇▇▇▇▇▇ shall calculate the Actual Yield of Customer Material achieved for all Batches Manufactured in the previous year (“Actual Yield”). In case the Actual Yield for a Customer Material is more than [***] percent lower than the Average Yield, for the difference between the Actual Yield and the Average Yield (“Difference”) following shall apply: Subject to Section 11.4 and provided the Difference lies within the control of Corden, Customer shall receive a credit note on the next invoice in an amount equal to the Difference, [***]). In case the Actual Yield exceeds the Average Yield, the Parties shall share the financial benefits equally as mutually agreed in writing.