Common use of Equipment Orders Clause in Contracts

Equipment Orders. During the term of this Agreement, QSI agrees to make available for purchase by IMC a minimum of: (a) [***] (b) [***] (c) [***] Unless otherwise agreed by the parties in writing, IMC may order up to [***] during any calendar month. Within ten (10) days after receipt of a written purchase order from IMC, QSI will deliver each piece of Equipment ordered per IMC’s specifications, which may or may not include cables, software, licenses and other essential components which constitute the particular piece of Equipment, to the location designated by IMC in the purchase order at IMC’s expense; provided, however, IMC reserves the right to approve the method and provider for delivery. Attached to this Agreement as Exhibit A is IMC’s projection of the Equipment it plans to order each month during the term of this Agreement. IMC reserves the right, exercisable in its sole discretion, to modify Exhibit A upon thirty (30) days prior notice to QSI. Exhibit A is only a projection and this Agreement, along with Exhibit A, does not obligate IMC to purchase any Equipment from QSI. [***]Confidential material redacted and filed separately with the Commission. This Agreement constitutes a security agreement and pledge agreement for all purposes under the Uniform Commercial Code and California Law. QSI shall be the security holder of any and all Equipment provided to IMC under this Agreement, for which the Purchase Price (see below) has not been completely paid. The UCC filing will place QSI in first position regarding all Equipment sold to IMC. Upon full payment of the Purchase Price, QSI will promptly file proper documentation which releases QSI’s security interest in that particular piece of Equipment. IMC will then own that particular piece of Equipment free and clear of any liens or encumbrances.