Minimum Purchase Order definition
Examples of Minimum Purchase Order in a sentence
During the term of this Agreement, and in consideration of LCI making diligent and best efforts within commercial guidelines to meet the Minimum Purchase Order Volumes set forth in Paragraph 5 below, JSP agrees not to supply or provide the Products, directly or indirectly, to or for any party other than LCI nor shall it directly sell the Products to anyone other than LCI.
If Micrus has not fulfilled a yearly Minimum Purchase Order of an approved Product, then Biotronik shall have the right to terminate the license only with respect to such Product by giving sixty (60) days advance written notice to Micrus, provided that Micrus may avoid such termination by curing said default during the sixty (60) day notice period.
Micrus shall order the quarterly or annual Minimum Purchase Order quantities of each Product as shown in the applicable Statement of Work.
Any purchase amount exceeding the yearly Minimum Purchase Order can be set off or credited by the Distributor against the Minimum Purchase Order for the following year.
Thereafter, GRC may renew this Agreement for successive six (6) month terms on the same terms and conditions, provided that (i) said renewal is in writing signed by both parties and (ii) the parties mutually agree upon minimum purchase order requirements ("Minimum Purchase Order").
Prior to such adjustment, Herbalife or any affected Affiliate shall use its commercially reasonable efforts and cooperate with Supplier to eliminate the Governmental Impact so that the Supplied Product manufactured or supplied by Supplier can continue to be manufactured by Supplier without adjustment to the Minimum Purchase Order Amount.
Paragraph 5 of the Agreement, entitled “Initial Minimum Purchase Order Volumes”, shall not apply to the First Renewal Term and, if it takes effect, the Second Renewal Term.
Subject to the terms and conditions contained in this Agreement, Biotronik hereby agrees to use reasonable efforts to develop and obtain regulatory approval in the European Union (C▇-▇▇▇▇) and in the United States for manufacture and supply the Developed Products conforming to the Product Specifications in sufficient quantity (to meet demand therefore (i.e. at least [***]% of the Minimum Purchase Order amount for such Product).
Contract Year Minimum Purchase Order per year 1st year 100kits 2nd year 200kits In the fourth and subsequent years the Minimum Purchase Order shall be increased by the Supplier in respect of the previous year in consultation with the Distributor.
If following any such reduction in the Minimum Purchase Order Amount, Herbalife or any Affiliate recommences shipping such Supplied Product manufactured or supplied by Supplier during the Term, the Minimum Purchase Order Amount shall be restored as to such Supplied Product for the then remaining balance of the Term.