New Purchase Commitment Clause Samples
The New Purchase Commitment clause establishes an obligation for one party to buy a specified quantity or value of goods or services from the other party, typically within a defined timeframe. This clause may outline the minimum purchase requirements, delivery schedules, and any conditions that must be met for the commitment to be valid. Its core practical function is to provide certainty and predictability for both parties by ensuring a guaranteed level of business, thereby reducing the risk of fluctuating demand or supply.
POPULAR SAMPLE Copied 1 times
New Purchase Commitment. The Parties hereby agree to cancel Axtel’s existing Purchase Commitment set forth in Sections 1a) and 2a) of Annex H of the FWA PLA, for the purchase of RSS equipment and Base Stations units for the years 2005, 2006 and 2007, and agree to new Purchase Commitments by Axtel, as follows: