Failure to Meet Minimums. In the event that AB does not purchase, during any of Contract Year One, Contract Year Two or Contract Year Three, from Xxxxxx a sufficient number of Products such that the Aggregate Purchase Price of Products purchased by AB during such Contract Year is not equal to or greater than the applicable Adjusted Contract Year Purchase Minimum for such Contract Year, then the following shall apply:
Failure to Meet Minimums. 18.1 If the Annual Gross Operating Revenues do not reach the Annual Minimum and Manager does not otherwise tender the applicable Annual Exclusivity Payment within 30 days of the end of any calendar year during the Term as provided by section 8, then payment for same shall be effected by Owner applying Guarantee Collateral equal in value to the amount of the Owner's Annual Exclusivity Payment which remains unpaid, provided that in such instance Owner shall only apply interest monies forming part of the Guarantee Collateral to such payment.
Failure to Meet Minimums. If Collagen, Affiliates and sublicensed subdistributors fail to sell in any Year at least the minimum Net Sales of all Licensed Product(s) --------- *Confidential treatment requested. as set forth in Exhibit D (and so long as such failure is not attributable, in whole or in part, to any act or failure to act of Cosmederm, including, but not limited to, Cosmederm's failure to supply sufficient quantities of any Licensed Product(s) to Collagen and/or any action or requirement of the United States Food and Drug Administration or state regulatory equivalent), Cosmederm may, at its sole election, notify Collagen in writing of Cosmederm's intent to terminate this Agreement. Cosmederm may terminate this Agreement * after such notice unless Collagen has, at Collagen's sole election, within such * period done one of the following:
Failure to Meet Minimums. If Collagen, Affiliates and sublicensed subdistributors fail to sell in any Year at least the minimum Net Sales of all Licensed Product(s) as set forth in Exhibit D (and so long as such failure is not attributable, in whole or in part, to any act or failure to act of Cosmederm, including, but not limited to, Cosmederm's failure to supply sufficient quantities of any Licensed Product(s) to Collagen and/or any action or requirement of the United States Food and Drug Administration or state regulatory equivalent), Cosmederm may, at its sole election, notify Collagen in writing of Cosmederm's intent to terminate this Agreement. Cosmederm may terminate this Agreement sixty (60) days after such notice unless Collagen has, at Collagen's sole election, within such sixty (60) days period done one of the following:
