Guaranteed Submissions Clause Samples
Guaranteed Submissions. ILSI guarantees that the following minimum numbers of Submissions for Subprime Loans will be generated through the Website or ILSI's call center and forwarded to MC for processing during the following three Contract Years:
(a) First Contract Year: 17,000 Submissions First quarter: 3,500 Second quarter: 4,000 Third quarter: 4,500 Fourth quarter: 5,000
(b) Second Contract Year: 24,000 Submissions First quarter: 6,000 Second quarter: 6,000 Third quarter: 6,000 Fourth quarter: 6,000
(c) Third Contract Year: 28,800 Submissions First quarter: 7,200 Second quarter: 7,200 Third quarter: 7,200 Fourth quarter: 7,200 ILSI shall attain the guaranteed minimum amounts of Submissions for each quarter. For any quarter for which the minimum amount is not reached, ILSI shall pay MC $25 for each Submission below the required level of submissions for that quarter, provided, however, that if the shortfall for any one quarter does not exceed 10% of the guaranteed minimum amount. MC shall monitor the number of Submissions transmitted through ILSI each quarter and shall invoice ILSI for any amount due at the end of such quarter. ILSI shall pay such invoices within 30 days of receipt. The above guaranteed minimum amounts will be reviewed by the parties after six (6) months following the Commencement Date (or such other time periods determined by the parties). During the six (6) month review, the parties agree to negotiate in good faith to agree on appropriate guaranteed minimum amounts of Submissions. The parties may further adjust such minimum amounts from time to time by agreement in writing.
Guaranteed Submissions. ILSI guarantees that the following minimum numbers of Submissions for Subprime Loans will be generated through the Website or ILSI's call center and forwarded to MC for processing during the following three Contract Years:
(a) First Contract Year: ** Submissions First quarter: ** Second quarter: ** Third quarter: ** Fourth quarter: **
(b) Second Contract Year: ** Submissions First quarter: ** Second quarter: ** Third quarter: ** Fourth quarter: **
(c) Third Contract Year: ** Submissions First quarter: ** Second quarter: ** Third quarter: ** Fourth quarter: ** ILSI shall attain the guaranteed minimum amounts of Submissions for each quarter. For any quarter for which the minimum amount is not reached, ILSI shall pay ** for each Submission below the required level of submissions for that quarter, provided, however, that if the shortfall for any one quarter does not exceed ** of the guaranteed minimum amount. MC shall monitor the number of Submissions transmitted through ILSI each quarter and shall invoice ILSI for any amount due at the end of such quarter. ILSI shall pay such invoices within 30 days of receipt. The above guaranteed minimum amounts will be reviewed by the parties after six (6) months following the Commencement Date (or such other time periods determined by the parties). During the six (6) month review, the parties agree to negotiate in good faith to agree on appropriate guaranteed minimum amounts of Submissions. The parties may further adjust such minimum amounts from time to time by agreement in writing.