Common use of Step-Downs Clause in Contracts

Step-Downs. We will not retrospectively Step-Down the Monthly Minimum Prices during the Term. Only in exceptional circumstances will we consider prospective Step-Downs in Monthly Minimum Prices within the Term, and this would be done in accordance with the Dairy Code. We will give you at least 30 days prior written notice of such a Step-Down and include all other details required by the Dairy Code. You will have a right to terminate this Agreement within 21 days after receiving any such notice, with effect from the day the Step- Down occurs. You will also have the right to rescind any such termination before the end of those 21 days. If there is a Sharefarmer Supplier, both you and the Sharefarmer Supplier must exercise your rights under this section acting jointly.

Step-Downs. We will not retrospectively Step-Down the Monthly Minimum Prices during the Term. Only in exceptional circumstances will we consider prospective Step-Downs in Monthly Minimum Prices within the Term, and this would be done in accordance with the Dairy Code. We will give you at least 30 days prior written notice of such a Step-Down and include all other details required by the Dairy Code. You will have a right to terminate this Agreement within 21 days after receiving any such notice, with effect from the day the Step- Step-Down occurs. You will also have the right to rescind any such termination before the end of those 21 days. If there is a Sharefarmer Supplier, both you and the Sharefarmer Supplier must exercise your rights under this section acting jointly.