Minimum Obligation definition
Examples of Minimum Obligation in a sentence
Upon receipt of a Mandatory Purchase Notice, subject to the terms and conditions contained herein, the Investor shall be obligated to purchase on one or more Closing Dates in respect of each such Mandatory Purchase Date or Mandatory Purchase Dates as the Investor elects during the Investment Period, shares of Common Stock for an aggregate Purchase Price equal to the Minimum Obligation.
In the event the Company intends not to obligate the Investor to purchase Common Stock represented by the Minimum Obligation during an Investment Period or in the event the Company intends to cancel or limit the amount of the Investor Call Amount, on or before the third (3rd) Trading Day preceding the commencement of such Investment Period, the Company shall deliver a Cancellation Notice to the Investor.
In the event that one or more of the events listed in Section 2.5(a)(i)(A) through (C) above occur during the Investment Period, the obligation of the Investor to purchase shares of Common Stock (either pursuant to a Minimum Obligation, an Additional Purchase Notice or an Investor Call Purchase Notice) during such Investment Period shall, unless waived in writing by the Investor, be canceled for the remainder of the Investment Period.
Additionally, if a Force Majeure Event at either Terminal prevents VMSC from Throughputing any amount of Asphalt Products, then the Minimum Obligation for the applicable Contract Year shall be reduced by an amount equal to the amount such Asphalt Products that VMSC could not Throughput due to the Force Majeure Event.
The Contract Price set forth in Paragraph 4.1.1, above, is the Minimum Obligation and the Maximum Potential Value stated in the Contract Documents.
Those selections are reflected in Exhibits 1.62 and 2.1, which set out the individual EMC Customer terms and initial quantities that comprise the OPC Minimum Obligation and the Term.
To the extent, however, that FAULDING, for any reason other than a default by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, is delayed in its ability to manufacture and ship Product during any Minimum Obligation Period, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇'▇ minimum purchase obligation for such Minimum Obligation Period will be excused.
The Agreement shall become valid once each of the parties has received a copy of the Agreement, attaching the signatures of all of the parties to the Agreement.
After the Minimum Obligation has been met, ▇▇▇▇▇▇ shall be able to obtain the Product that ▇▇▇▇▇▇ and its Affiliates and sub-licensees require for the Territory from a supplier of its choosing, including any Contract Manufacturer.
The Final Warrant shall provide that it shall not be exercisable on any date to the extent that such exercise would limit the ability of the Investor to purchase shares of Common Stock as a result of a Minimum Obligation or an Additional Purchase Notice such that its holding would exceed the 4.9% Limit.