Common use of Contracting Commitments Clause in Contracts

Contracting Commitments. Subject to Section 9, (a) For the twenty-four (24) month period following the effective date of the first Statement of Work to be executed hereunder (the "Initial Commitment Period"), Dyadic expressly undertakes to contract Projects to BDI Pharmaceuticals a minimum cumulative amount of US$500,000 for each twelve (12) month period, to be paid at the rates indicated above, and BDI Pharmaceuticals agrees to make available qualified and skilled personnel and resources for them as and when required. (b) For a period of thirty-six (36) months following the Initial Commitment Period, at Dyadic's sole option, Projects may continue minimally at the same level of FTE's or greater, and BDI Pharmaceuticals represents that it will make the necessary qualified and skilled personnel and additional resources available to carry out such Projects for Sponsor. (c) If Dyadic, or its Affiliates, requests to lease lab space or gain access to equipment and personnel in order to qualify for European Union or other funding opportunities, BDI its Affiliates (such as, for example, without limitation, Dyadic Nederland BV) under equal terms and conditions as set forth in Section 2.1 and availability of such FTEs will managed through reasonable schedules and conditions to avoid affecting other works being developed by BDI Pharmaceuticals or Affiliates. (d) BDI Pharmaceuticals shall not at any time sell services at FTF rates or charge or charge lower percent margin on out-of-pocket expenses to a different sponsor of research services at prices below those stated in this Agreement. If BDI Pharmaceuticals charges a different sponsor a lower price for these service components, BDI Pharmaceuticals must immediately apply the lower price for the services under this Agreement. If BDI Pharmaceuticals fails to meet the lower price, Dyadic, at its sole option may terminate this Agreement without any liability pursuant to this Agreement's termination provisions.