Minimum Required Quantity (MRQ Clause Samples

The Minimum Required Quantity (MRQ) clause establishes the lowest amount of goods or services that a buyer is obligated to purchase from a seller under a contract. Typically, this clause specifies a set number of units or a monetary value that must be met within a defined period, such as annually or over the contract term. For example, a distributor may be required to order at least 1,000 units per year to maintain exclusivity. The core function of the MRQ clause is to provide the seller with a guaranteed baseline of sales, reducing uncertainty and helping with production planning and resource allocation.
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Minimum Required Quantity (MRQ. Minimum Required Quantity" shall be cumulative quantity @ [ Quantity of coal determined in Standard Tonne equivalent to ACQ x 0.8 ÷ 365 ] of Coal per day in an Operating Year upto the relevant day from the beginning of such Operating Year, and the Daily Minimum Required Quantity (DMRQ) shall be [ Quantity of coal determined in Standard Tonne equivalent to ACQ x 0.8 ÷ 365 ].
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Related to Minimum Required Quantity (MRQ

  • Coverage Minimum Requirement Commercial General Liability Insurance, including Bodily Injury, Personal Injury, Property Damage, Advertising Injury, and Medical Payments Each Occurrence General Aggregate $ 1,000,000 $ 2,000,000 Automobile Liability Insurance - Any Auto Each Occurrence General Aggregate $ 1,000,000 $ 2,000,000 Professional Liability $ 1,000,000 Workers Compensation Statutory Limits Employer’s Liability $ 1,000,000

  • Minimum Requirements Consultant shall, at its expense, procure and maintain for the duration of the Agreement insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the Agreement by the Consultant, its agents, representatives, employees or subconsultants. Consultant shall also require all of its subconsultants to procure and maintain the same insurance for the duration of the Agreement. Such insurance shall meet at least the following minimum levels of coverage:

  • MINIMUM ORDER QUANTITY The State makes no commitment to purchase any minimum or maximum quantity, or dollar volume of products from the selected suppliers. Utilization of this agreement will be on an as needed basis by State Agencies and/or Cooperative Participants, Cities, Counties, Schools K-12, Colleges and Universities. The State will award to multiple suppliers; however, the State reserves the right to purchase like and similar products from other suppliers as necessary to meet operational requirements.

  • Minimum Shipping Requirements for TIPS Sales Vendor shall ship, deliver, or provide ordered goods and services within a commercially reasonable time after acceptance of the order. If a delay in delivery is anticipated, Vendor shall notify the TIPS Member as to why delivery is delayed and provide an updated estimated time for completion. The TIPS Member may cancel the order if the delay is not commercially acceptable or not consistent with the Supplemental Agreement applicable to the order.

  • Contract Quantity The Contract Quantity during each Contract Year is the amount set forth in the applicable Contract Year in Section D of the Cover Sheet (“Delivery Term Contract Quantity Schedule”), which amount is inclusive of outages.