New Plant Timing Sample Clauses

New Plant Timing. 6.1.1 Following the Commercial Operation Date Pioneer Plant, the Supplier shall use its best efforts to construct (or arrange for the construction of) and complete a New Plant on or before the Expected Commercial Operation Date New Plant. 6.1.2 The New Plant shall be capable of producing commercial quantities of [***] Bio-Content based CMF from [***] Danone Qualified Feedstock which shall be in sufficient quantities and suitable for conversion into at least [***] per annum of [***] Bio-Content based Bio-pX or FDCA in accordance with the Technical Specifications. The expected costs of production of the New Plant are set forth in the parametric pricing charts, which are based on the technology that the Supplier expects to develop and are set forth in Appendix 14. 6.1.3 In respect of the New Plant’s production: 6.1.3.1 Danone and/or the relevant Danone Affiliates shall have the option, exercisable by written notice to the Supplier on or before the [***] anniversary of the first commercial delivery of Bio-PET to the applicable Danone Affiliate facility from the Pioneer Plant that complies with both (i) the Danone specifications and (ii) the other applicable terms and conditions, in each case as set forth in this Offtake Supply Agreement, to purchase up to [***] of either Bio-pX or FDCA per annum over a maximum term of [***] years and at a maximum price of the lower of (a) USD [***] per [***] or (b) [***] of the price of petro-based pX at the time of purchase by the relevant Danone Affiliate (or, if a third party has introduced commercial quantities of Bio-PET onto Danone’s Market before Danone has done so, [***] of such price); 6.1.3.2 For the avoidance of any doubt, Danone and the Danone Affiliates shall have no obligation to exercise any such rights set forth in Article 6.1. 6.1.4 If (i) Danone or a Danone Affiliate exercises the option set forth in Article 6.1.3.1 with respect to the purchase of at least a total of [***] of Bio-pX over a [***] period, (ii) within [***] after the exercise of such option, the Supplier or Supplier Affiliate fails to enter into an offtake agreement with Danone or a Danone Affiliate consistent with such option terms and (iii) the Supplier or any Affiliate thereof directly or indirectly constructs (or arranges for the construction of or licenses its Intellectual Property Rights to a third party for the construction of) the New Plant, then the Supplier will pay to Danone in cash, within [***] after the Commercial Operation Date Ne...