Lead Time and Shipment Sample Clauses

Lead Time and Shipment. Purchase Orders must be received by NEC Japan at least twelve (12) business days and by NECSAM at least five (5) business days, prior to the delivery date requested in Stratus’ Purchase Order (“Required Lead Time”). NEC will use best commercial efforts to ship Product that conforms to the Committed Forecast within the applicable Required Lead Time. If NEC receives Stratus’ order less than the applicable Required Lead Time prior to Stratus’ requested delivery date, NEC shall make commercially reasonable efforts to accommodate said requested delivery date. Notwithstanding the foregoing, NEC may temporary withhold shipment in the event: a) Stratus fails to perform any material obligation or otherwise is in breach of any material term or condition hereunder and has failed to cure any such breach within 60 days or receipt of NEC’s written breach notice and in the case of failure to make payments when due, within 20 days of receipt of NEC’s written breach notice; or b) Of a filing by Stratus of a voluntary petition in bankruptcy or under any similar insolvency law, the making of an assignment for the benefit of creditors of Stratus, the filing against Stratus of any involuntary petition in bankruptcy or under any similar insolvency law and the failure by Stratus to have such involuntary petition dismissed within 90 days of the filing date, or the appointment of a receiver for, or a levy or attachment against, substantially all of Stratus assets.