Annual Minimum Commitment definition
Examples of Annual Minimum Commitment in a sentence
Within 30 days following the end of each of the last 4 years of the initial Term, Cedara will invoice Surgi-Vision for the difference, if any, between the actual license fees paid and the Annual Minimum Commitment for that year.
In accordance with that certain letter agreement, dated February 8, 2022, by and between Customer and Lonza, all Product ordered by Customer after February 8, 2022 and prior to the commencement of the first Contract Year shall be credited towards Customer’s Annual Minimum Commitment for the first Contract Year.
The Order No. 17 for 30 PD Upgrades includes Axtel's 2004 Annual Minimum Commitment of base station units set forth in the FWA PLA.
If Customer or its affiliate does not satisfy its respective Annual Minimum Commitment during the Contract Year as extended, the party not meeting its Annual Minimum Commitment will pay Sprint, in addition to all other charges, the difference between its Annual Minimum Commitment and its Contributory Charges in the Contract Year as extended, multiplied by 50% for each Contract Year such party fails to meet its Annual Minimum Commitment.
Effective October 1, 2004, Customer will receive a credit of $17,000 for each $100,000 of Contributory Charges paid in excess of the contractual Annual Minimum Commitment during Contract Years 9 and 10.
Notwithstanding the foregoing, during Contract Year 10, Customer or its affiliate may extend the applicable Contract Year for up to three months for purposes of satisfying the Annual Minimum Commitment.
Customer is not eligible for credits in Quarter 4 of Contract Year 9 or 10 if Customer exercises the provision to extend the Contract Year 1 month to meet its Annual Minimum Commitment as referenced in the CSA.
If Customer or its affiliate does not satisfy its Annual Minimum Commitment in a Contract Year, the party not meeting its commitment may extend the applicable Contract Year for one month for purposes of satisfying the Annual Minimum Commitment and such extended Contract Year will apply to both Customer and its affiliate.
In addition, in the event Customer fails to purchase the Annual Minimum Commitment [***], then the Parties, in good faith will [***]; provided, however, that for the avoidance of doubt, the Parties agree that the then current [***] shall continue to be in effect during the period of time that the Parties are renegotiating such provisions.
For purposes of the Annual Minimum Commitment during Contract Years 11 and 12, Customer will be responsible for an amount equal to $20,131,421 and An affiliate of Customer will be responsible for an amount equal to $5,090,992.