Exclusivity; Milestones Sample Clauses
The 'Exclusivity; Milestones' clause establishes that one party is granted exclusive rights to a particular product, service, or business opportunity, often contingent upon meeting specific performance milestones. In practice, this means the party receiving exclusivity must achieve certain predefined goals—such as sales targets, development deadlines, or project deliverables—within set timeframes to maintain their exclusive status. This clause ensures that exclusivity is earned and retained only if the agreed-upon milestones are met, thereby motivating performance and protecting the interests of the granting party by allowing them to revoke exclusivity if expectations are not fulfilled.
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Exclusivity; Milestones. The exclusive licenses in the Territory granted to Distributor in Sections 2.1, 2.2 and 2.3 above shall be subject to Distributor maintaining the purchasing milestones set forth in Exhibit A, applicable to the first year (or portions thereof) of the term. Exhibit A shall be amended in writing by the parties to include the purchasing milestones for subsequent years (or portions thereof), provided that if the parties fail to amend the purchasing milestones in Exhibit A for any reason, then the purchasing milestones applicable to the first year (or portions thereof) of the term of this Agreement will be applicable to all subsequent years (or portions thereof) of the term of this Agreement. In the event that Distributor does not meet the purchasing milestones set forth in Exhibit A, at WaferGen’s option and sole discretion, and upon written notice to Distributor, the licenses granted in Sections 2.1, 2.2 and 2.3 above shall become non-exclusive in nature, and all other terms and conditions of this Agreement shall remain unchanged in full force and effect.