Binding Purchase Order Clause Samples
A Binding Purchase Order clause establishes that once a purchase order is issued and accepted, it becomes a legally enforceable commitment for both the buyer and the seller. This means that the buyer is obligated to purchase the specified goods or services, and the seller must deliver them according to the agreed terms, such as price, quantity, and delivery schedule. By making purchase orders binding, this clause ensures certainty and reliability in commercial transactions, reducing the risk of last-minute cancellations or disputes over obligations.
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Binding Purchase Order. Company hereby submits to Intel a binding, non-cancellable purchase order for [***] units of BZM2 attached hereto in Exhibit 2 to Addendum B-1 simultaneously upon the execution of this Amendment effective on the Amendment One Effective Date.
Binding Purchase Order. 8.2.1 A Purchase Order will become a binding Purchase Order (“Binding Purchase Order”):
(a) if the Purchase Order is in line with a Confirmed STP and the NXP Order Lead-time, and in respect of Purchase Orders Type B, if there are sufficient Wafers stored in the NXP Wafer Bank, to the extent relevant, in which event NXP will have an obligation to confirm to DSPG within [*] after receipt of the Purchase Order that it accepts such Purchase Order; provided that if the reason there are not sufficient Wafers stored in the NXP Wafer Bank is due to NXP not complying with the applicable NXP Order Lead-time for orders to be stored at a NXP Wafer Bank, for purposes of clause 14, the order shall be deemed to have been accepted at the expiration of said [*]; or
(b) if the Purchase Order is not in line with a Confirmed STP and/or NXP Order Lead-time but in respect of Purchase Orders Type B if there are sufficient Wafers stored in the NXP Wafer Bank, as the case may be, and NXP confirms to DSPG within [*] after receipt of the Purchase Order that it accepts such Purchase Order.
8.2.2 For the avoidance of doubt, all Purchase Orders which have been issued by Dice to NXP prior to the Effective Date shall remain binding between the Parties and unaffected by this Agreement. 18 / 43
Binding Purchase Order. On or before each of 1st April 2017 and (unless the Commercial Phase has already commenced) 1st April 2019, Customer shall provide Life with a binding purchase order for the amount of Products specified in the Development Phase Purchasing Obligation. During the Transitional Phase and Commercial Phase, on or before 30th September in each year of this Agreement, Customer shall provide Life with a binding purchase order for the amount of Products required by Customer for the next calendar year. Such binding purchase order shall specify at least the minimum number of Products specified in Year 2 of the Accepted Forecast agreed for the preceding year and be for no less than any applicable Minimum Purchasing Obligation for the next calendar year. For clarity purchase orders may only be placed for Products under SKU 43300D and SKU43305D during the Development Phase and Transitional Phase and may only be placed for Products under SKU43XXD during the Commercial Phase.
Binding Purchase Order. On the Amendment Date, Purchaser has submitted a binding Purchase Order for 11kg of CpG Material, which has been accepted by Dynavax, as set out in the table below: [***] 1 December 2021 [***] [***]
Binding Purchase Order. On the Amendment Date, Purchaser has submitted a binding Purchase Order for [***] of CpG Material, which has been accepted by Dynavax, as set out in the table below: [***] [***] [***] [***], being [***] of the aggregate Cost per Dose of such CpG Material and constituting the Final Payment for such CpG Material. Dynavax acknowledges and agrees that it shall be deemed to have received the Advance Payment for such CpG Material of [***], being [***] of the aggregate Cost per Dose of such CpG Material.
Binding Purchase Order. (a) A Purchase Order shall be confirmed by NXP Group (a “Binding Purchase Order”) if:
(i) the Purchase Order is in line with the applicable Confirmed STP; or
(ii) the Purchase Order is not in line with the applicable Confirmed STP, but NXP Group shall use commercially reasonable efforts to confirm to Trident Group within two (2) Business Days, and in no event later than ten (10) Business Days, after receipt of the Purchase Order that it accepts such Purchase Order.
(b) For the avoidance of doubt, all Purchase Orders confirmed by NXP which have been issued by Trident Group to NXP Group prior to the Closing Date shall remain binding between the Parties and unaffected by this Agreement.