Common use of Minimum Performance Standards Clause in Contracts

Minimum Performance Standards. In order to induce RBC to grant the Distributor the rights granted hereunder, the Distributor agrees to meet the following minimum annual wholesale quotas. A. For the one (1) year period beginning as of the date hereof, the Distributor agrees to purchase an aggregate minimum of three hundred thousand Dollars (U.S. $300,000) of Products based on the Export Price List, referenced hereto as Appendix A. B. For Years two (2) through five (5) of this Agreement, the Distributor agrees to purchase the following aggregate minimum amounts of Products based on the Export Price List, referenced hereto as Appendix A: 2 US $ 600,000 3 US $ 750,000 4 US $ 900,000 5 US $ 1,100,000 Distributor’s performance of its obligations under paragraphs A. and B. of this Section shall be excused for the duration of any delay arising directly or indirectly from acts of God, unforeseeable circumstances, acts (including delay or failure to act) of any governmental authority, war (declared or undeclared), riot, revolution, fires, strikes, labor disputes, sabotage, or epidemics. Further, if at the end of any year in the first four years of this Agreement, inclusive, the Distributor has failed to purchase the aggregate minimum amount required for such year, the Distributor shall have a grace period of thirty (30) days from the end of such year to cure this deficiency. C. In case the Distributor in any one year, including the applicable thirty (30) day grace period, does not purchase from RBC the respective aggregate minimum amount set forth in this Section, RBC may, at its option, convert the exclusive rights granted to the Distributor hereunder into non-exclusive rights. D. At least ninety (90) days prior to the expiration of the initial five (5) year term of this Agreement (Initial Term), the parties shall meet to discuss the terms under which the Agreement shall be renewed. If the parties fail to enter into a renewal agreement prior to the expiration of the Initial Term, this Agreement will expire at the end of such Initial Term.

Minimum Performance Standards. In order to induce RBC to grant the Distributor the rights granted hereunder, the Distributor agrees to meet the following minimum annual wholesale quotas. A. For the one (1) year period beginning as of the date hereof, the Distributor agrees to purchase an aggregate anaggregate minimum of three hundred thousand Dollars (U.S. $300,000) of Products based on the Export Price List, referenced hereto as Appendix A. B. For Years two (2) through five (5) of this Agreement, the Distributor agrees to purchase the following aggregate followingaggregate minimum amounts of Products based on the Export Price List, referenced hereto as Appendix A: 2 US $ 600,000 3 US $ 750,000 4 US $ 900,000 5 US $ 1,100,000 Distributor’s performance of its obligations under paragraphs A. and B. of this Section shall be excused for the duration of any delay arising directly or indirectly from acts of God, unforeseeable circumstances, acts (including delay or failure to act) of any governmental authority, war (declared or undeclared), riot, revolution, fires, strikes, labor disputes, sabotage, or epidemics. Further, if at the end of any year in the first four years of this Agreement, inclusive, the Distributor has failed to purchase the aggregate minimum amount required for such year, the Distributor shall have a grace period of thirty (30) days from the end of such year to cure this deficiency. C. In case the Distributor in any one year, including the applicable thirty (30) day grace period, does not purchase notpurchase from RBC the respective aggregate minimum amount set forth in this Section, RBC may, at its option, convert the exclusive rights granted to the Distributor hereunder into non-exclusive rights. D. At least ninety (90) days prior to the expiration of the initial five (5) year term of this Agreement (Initial TermInitialTerm), the parties shall meet to discuss the terms under which the Agreement shall be renewed. If the parties fail to enter into a renewal agreement prior to the expiration of the Initial Term, this Agreement will expire at the end of such Initial Term.

Minimum Performance Standards. In order to induce RBC to grant the Distributor the rights granted hereunder, the Distributor agrees to meet the following minimum annual wholesale quotas. A. For the one (1) year period beginning as of the date hereof, the Distributor agrees to purchase an aggregate minimum of three hundred thousand Dollars (U.S. $300,000) of Products based on the Export Price List, referenced hereto as Appendix A. B. For Years two (2) through five (5) of this Agreement, the Distributor agrees to purchase the following aggregate minimum amounts of Products based on the Export Price List, referenced hereto as Appendix A: Year Amount 2 US $ 600,000 3 US $ 750,000 4 US $ 900,000 5 US $ 1,100,000 - 8 - Distributor’s performance of its obligations under paragraphs A. and B. of this Section shall be excused for the duration of any delay arising directly or indirectly from acts of God, unforeseeable circumstances, acts (including delay or failure to act) of any governmental authority, war (declared or undeclared), riot, revolution, fires, strikes, labor disputes, sabotage, or epidemics. Further, if at the end of any year in the first four years of this Agreement, inclusive, the Distributor has failed to purchase the aggregate minimum amount required for such year, the Distributor shall have a grace period of thirty (30) days from the end of such year to cure this deficiency. C. In case the Distributor in any one year, including the applicable thirty (30) day grace period, does not purchase from RBC the respective aggregate minimum amount set forth in this Section, RBC may, at its option, convert the exclusive rights granted to the Distributor hereunder into non-exclusive rights. D. At least ninety (90) days prior to the expiration of the initial five (5) year term of this Agreement (Initial Term), the parties shall meet to discuss the terms under which the Agreement shall be renewed. If the parties fail to enter into a renewal agreement prior to the expiration of the Initial Term, this Agreement will expire at the end of such Initial Term.