MINIMUM TURNOVER REQUIREMENTS Sample Clauses
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MINIMUM TURNOVER REQUIREMENTS. 4.1 Each contract year for the duration of this Agreement, Distributor will make minimum sales of Products in the Territory (“Minimum Turnover Requirement”) equal to at least sixty percent (60%) of the amount of Product sales as budgeted in the Business Plan annexed to the JV Agreement. Sales in excess of the Minimum Turnover Requirement in any contract year shall be neither carried over nor credited toward the Minimum Turnover Requirement of a subsequent contract year. Notwithstanding the foregoing there shall be no Minimum Turnover Requirement for the first contract year.
MINIMUM TURNOVER REQUIREMENTS. All purchase orders shall be irrevocable after acceptance by Master Licensee; provided, however, that Distributor may reschedule or cancel that portion of any purchase order pertaining to Lacoste Watches which Master Licensee fails to deliver within thirty (30) days after the later of the advised delivery date or shipping date. Distributor will provide Master Licensee with a four (4) month rolling forecast of its anticipated order volume monthly by SKU, for the four (4) month period. Master Licensee will use reasonable efforts to deliver Lacoste Watches ordered in accordance with the forecast within three (3) months after acceptance of the purchase order by Master Licensee and to deliver all other Lacoste Watch orders within three (3) to five (5) months after acceptance of the purchase order. As soon as is reasonably practicable after acceptance of each purchase order, Master Licensee shall advise Distributor of the shipping dates applicable to such order. All shipping dates so advised are estimates only and Master Licensee shall not have any liability for failure to actually ship by such dates or to deliver by Distributor’s requested delivery dates. Master Licensee shall notify Distributor in event of any anticipated delay in shipping dates of thirty (30) days or more. Each order submitted by Distributor will specify a “ship to” address which shall be the address of Distributor’s warehouseman or the address for one of Distributor’s customers.