Minimum Annual Purchase Requirements definition
Examples of Minimum Annual Purchase Requirements in a sentence
For each New Application obtained principally through the efforts of SMI, but not for other New Applications, the Parties agree to negotiate in good faith to adjust the Products Minimum Annual Purchase Requirements taking into consideration reasonable expectations of market increase for such New Application and any reasonable expectation of market decrease for existing Permitted Clinical Applications of Products.
However, the Distributor acknowledges and agrees that Distributor's failure to purchase the minimum annual purchase requirements ("Minimum Annual Purchase Requirements") of Product from the Company shall constitute cause for termination of this Agreement.
In the event of a Supply Failure, (a) Neos may terminate the Neos Exclusivity Commitment under Section 1.1 immediately upon written notice to CPI, (b) Neos shall be excused from its Minimum Annual Purchase Requirements for the remainder of the Term, and (c) Neos shall have the right to terminate this Agreement upon written notice to CPI.
If SMI’s reasonable failure to cooperate causes, in CryoLife’s reasonable estimation, Regulatory Approval in Canada to be delayed past January 1, 2012 the Parties agree to reduce the Minimum Annual Purchase Requirements by [***] US Dollars ($[***]) starting with calendar year 2012, with a pro-rata adjustment made for any approval that occurs during a calendar year.
The Minimum Annual Purchase Requirements are as follows: Year of this Agreement Minimum Annual Purchase Requirements* 1st 10% 2nd 15% 3rd and thereafter 20% * The annual amount of Distributor's purchases of Product from the Company, in relation to Distributor's total annual purchases from all sources, must be at least this percentage in order for Distributor to not be in default of this Agreement.
The Low Volume Service Charge, if invoked, would be a separate and distinct requirement from the Minimum Annual Purchase Requirements described in Paragraph 10.a. above.
The "Minimum Annual Purchase Requirements" are as follows: There will be no minimum purchase requirements during the initial six months of this Agreement commencing on the Effective Date (the ~Evaluation Period").
CIS shall pay to Cytogen the minimum ----------------------------- annual purchase requirements in the amounts set forth in Schedule C hereto (the "Minimum Annual Purchase Requirements").
Failure to purchase the Minimum Annual Purchase Requirements of Product from the Company as set forth in Paragraph 10.a. above.
In the event that the transfer of the Marketing Authorizations to CIS with respect to the countries identified in Schedule A hereto are not completed in a commercially reasonable time, then the parties shall renegotiate the Milestone Payments and Minimum Annual Purchase Requirements based upon the revised size of the relevant markets.