Common use of Minimum Volume Requirement Clause in Contracts

Minimum Volume Requirement. Initial Term Minimum; Extension Year Minimum. During the Initial Term, Customer’s Usage Charges under the agreement shall equal or exceed Thirty-Five Million Dollars ($35,000,000) (the “Initial Term Minimum”). During the Extension Year, Customer’s Usage Charges under the agreement shall equal or exceed 12/42 of the Initial Term Minimum (the “Extension Year Minimum”), adjusted to reflect any changes in the Initial Term Minimum that have been made prior to the conclusion of the Initial Term. The Initial Term Minimum and/or the Extension Minimum, as applicable, are referred to as the Minimum. All Usage Charges for the Services contribute to the satisfaction of the Minimum. Underutilization charges and early termination fees paid by Customer will contribute to the Minimum. Such payments will be deemed “Customer’s Usage Charges” for purposes of calculating any applicable underutilization as defined in the “Underutilization” section below.