Common use of MINIMUM QUANTITY REQUIREMENT Clause in Contracts

MINIMUM QUANTITY REQUIREMENT. Subject to Paragraphs 4 and 7, Supplier shall be obligated to sell to Customer and Customer shall be obligated to purchase from Supplier, pursuant to the terms and conditions of this Agreement, but only out of and subject to Customer's "Requirements", as defined below, for each calendar year during the term of this Agreement ("Contract Year"), the greater of (i) 430,000,000 pounds of Products, or (ii) fifty (50%) percent of such Requirements, provided that if Customer's Requirements for any Contract Year shall be less than 430,000,000 pounds of Products, then Customer shall be obligated to purchase from Supplier 100% of Customer's Requirements for Products during such Contract Year. The amount of Products described in the preceding sentence of this Paragraph 2 is hereinafter referred to as the "Minimum Quantity." The obligations of Supplier and Customer pursuant to this Paragraph 2 are subject to the following: