FAILURE TO PURCHASE MINIMUM QUANTITIES Sample Clauses
The "Failure to Purchase Minimum Quantities" clause defines the consequences if a buyer does not meet agreed-upon minimum purchase requirements within a specified period. Typically, this clause outlines remedies such as requiring the buyer to pay for the shortfall, allowing the seller to terminate the agreement, or adjusting pricing terms. By establishing clear expectations and consequences, the clause protects the seller from revenue uncertainty and ensures that the buyer remains committed to a baseline level of business.
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FAILURE TO PURCHASE MINIMUM QUANTITIES. In the event that Buyer fails to -------------------------------------- purchase in a given 6 month period the forecasted semi-annual purchase quantity, Buyer will pay to Seller within 60 days of the close of the period in which the shortfall occurs an amount equal to 100% of the contract price for the unpurchased Product, which is the difference between the forecasted semi- annual quantity and the quantity actually purchased during such year. Buyer's obligations under this Section 6 are conditioned upon Seller's delivery to Buyer within sixty (60) days after the end of any such 6 month period of an amount of Product equal to the difference between the Binding Forecast quantity and the quantity actually purchased by Buyer during such calendar year.
FAILURE TO PURCHASE MINIMUM QUANTITIES. After the end of each applicable period during the Term, Supplier may review the quantities of each Product Group or Product SKU, as applicable, ordered by Customer pursuant to Purchase Orders during such period. If such quantities are below the Monthly Period Product Quantity Minimum or the applicable Binding Commitments for the applicable Product Groups or Product SKU, as applicable, Supplier may, after delivering to Customer the quantity of associated Products, invoice Customer for such shortfall, such invoice price to be calculated as the amount equal to the Product Price multiplied by the difference between (a) the greater of the applicable Binding Commitments or Monthly Period Product Quantity Minimum for the applicable period and (b) the number of units actually ordered pursuant to Purchase Orders for such period, in each case with respect to the applicable Product Groups and Product SKUs, as applicable. Customer shall pay such invoice within ninety (90) days of receipt, provided that the Products are or were actually delivered and conform to the requirements of this Agreement.
FAILURE TO PURCHASE MINIMUM QUANTITIES. If, without excuse either by law or expressly hereunder, the Buyer fails to purchase the Minimum Quantities from the Supplier and the Supplier is ready, willing, and able to tender the Product in such amounts, the Buyer shall pay the Supplier a sum of $___________ as liquidated damages, within ____________ days of the end of the period described in Section 3 hereof, in such form and manner as may be agreed by the Parties.