Common use of Annual Tonnage Adjustment Clause in Contracts

Annual Tonnage Adjustment. For each Contract Year beginning in 2015, Buyer may elect to increase or decrease the Base Tonnage (as described in Section 2.1) for such Contract Year by an amount of up to [**] of the Base Tonnage for such Contract Year. If Buyer desires to increase or decrease the Base Tonnage for a Contract Year, Buyer shall provide written notice of such election to Seller on or before June 30th of the Contract Year preceding the Contract Year for which the Base Tonnage will be adjusted. If Buyer fails to provide such notice for any Contract Year, the Base Tonnage for such Contract Year shall be the Base Tonnage as set forth in Section 2.1.