Supply Right definition
Examples of Supply Right in a sentence
Either party may terminate the Supply Right and obligations related thereto as to a particular Shoe Department in an individual Covered Store or as to all Covered Stores at any time for any Event of Default hereunder by the other party hereto by giving ninety (90) days prior written notice to the defaulting party.
Supplier shall have the right, upon sixty (60) days prior written notice, to terminate the Supply Right and obligations related thereto as to all Covered Stores whether or not there has been any breach or default by Filene's if at any time the number of Covered Stores of Filene's, in the aggregate, is reduced to less than four Covered Stores, or (b) Filene's has defaulted under the Combo Store Supply Agreement and Supplier has given Filene's notice of termination thereunder.
In consideration of granting the Supply Right, Filene's shall be entitled to twenty percent (20%) of Net Sales of Merchandise ("Filene's Fee").
Filene's hereby grants to the Supplier an exclusive supply right (the "Supply Right") to supply Merchandise to the Shoe Departments of all Covered Stores.
Either party may terminate the Supply Right and obligation related thereto as to a particular Shoe Department in an individual store or as to all Covered Stores at any time for any Event of Default hereunder by the other party hereto.
If Methanex rejects the Offer or fails to respond to Terra within the Offer Period, then Terra shall have the right to offer the Supply Right to another third party methanol supplier, provided that Terra shall not offer the Supply Right to another third party methanol supplier on terms more favourable than those specified in the Offer including, without limitation, at a price that is less than the price specified in the Offer.
The Offer shall include all material terms and conditions of the Supply Right including, without limitation, the price for methanol supplied, and that the Offer is open for acceptance by Methanex for a period of 14 days (the “Offer Period”) after delivery of the Offer by Terra to Methanex.
Further, in the event that (i) Supplier fails to meet the applicable penetration rate set forth in this Section 7.4, (ii) ▇▇▇▇▇ Mart does not exercise its termination right under this Section 7.4, and (iii) Supplier meets the required penetration rate in a subsequent period, then ▇▇▇▇▇ Mart’s right to terminate the Supply Right pursuant to this Section 7.4 shall be waived as to the minimum penetration requirement for the applicable period, but not any subsequent period.
In consideration of granting the Supply Right, Filene’s shall be entitled to twenty percent (20%) of Net Sales of Merchandise (“Filene’s Fee”).
Further, in the event that (i) Supplier fails to meet the applicable penetration rate set forth in this Section 7.4, (ii) S▇▇▇▇ Mart does not exercise its termination right under this Section 7.4, and (iii) Supplier meets the required penetration rate in a subsequent period, then S▇▇▇▇ Mart’s right to terminate the Supply Right pursuant to this Section 7.4 shall be waived as to the minimum penetration requirement for the applicable period, but not any subsequent period.