Commercial OLED Chemicals Sample Clauses

Commercial OLED Chemicals. PPG shall invoice UDC for the supply of all Commercial OLED Chemicals in accordance with subsection 6.4.5 above upon the earlier of (i) the time of shipment under subsection 8.7.1 above; or (ii) thirty (30) days following shipment of a batch sample for OLED device testing under Section 8.2 above, which batch sample has not been rejected by UDC during such 30-day period based on UDC's testing under Section 8.3 above. All such invoices are subject to reasonable confirmation by UDC and shall be due and payable, within thirty (30) days from date of receipt by UDC, in 100% cash.
Sample 1
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Commercial OLED Chemicals. (i) For the supply of each Commercial OLED Chemical, during each Contract Year, UDC shall pay PPG at the rate of [***] times PPG’s Commercial OLED Material Cost. For clarification, these amounts include all costs for raw materials and Third-Party OLED Materials purchased for UDC’s account in accordance with subsection 6.2.1 above, and for Intermediates produced for UDC’s account in accordance with subsection 6.2.2 above. (ii) Notwithstanding the foregoing, the rate applied to the cost of each raw material purchased by PPG for the production of Commercial OLED Chemicals shall be as follows: (a) commencing on the later of (1) the Effective Date or (2) the date of [***] (such date, the "Commercial Raw Material Vesting Date") and continuing through [***] months following the Commercial Raw Material Vesting Date, [***] times PPG’s Commercial OLED Material Cost for such raw material, (b) during [***] months following the Commercial Raw Material Vesting Date (to the extent applicable), [***] times PPG's Commercial OLED Material Cost for such raw material, (c) during [***] months following the Commercial Raw Material Vesting Date (to the extent applicable), [***] times PPG's Commercial OLED Material Cost for such raw material, and (d) during [***] months following the Commercial Raw Material Vesting Date (to the extent applicable), [***] times PPG's Commercial OLED Material Cost for such raw material. For the avoidance of doubt, no multiplier shall be applied to [***]. (iii) Notwithstanding the foregoing, the rate applied to the cost of each Third-Party OLED Material purchased by PPG for the production of Commercial OLED Chemicals shall be as follows: (a) commencing on the later of (1) the Effective Date or (2) the date of [***] (such date, the "Commercial Third-Party OLED Material Vesting Date") and continuing through [***] months following the Commercial Third-Party OLED Material Vesting Date, [***] times PPG’s Commercial OLED Material Cost for such Third-Party OLED Material, (b) during [***] months following the Commercial Third-Party OLED Material Vesting Date (to the extent applicable), [***] times PPG’s Commercial OLED Material Cost for such Third-Party OLED Material, (c) during [***] months following the Commercial Third-Party OLED Material Vesting Date (to the extent applicable), [***] times PPG’s Commercial OLED Material Cost for such Third-Party OLED Material, and (d) during [***] months following the Commercial Third-Party OLED Material Vesting Date (to...
Sample 1
Commercial OLED Chemicals. For the supply of each Commercial OLED Chemical, UDC shall pay PPG at the rate of [The confidential material contained herein has been omitted and has been separately filed with the Commission.] PPG's Commercial OLED Material Cost, subject to adjustment based on the Credit Pool described in Section 6.5 below. For clarification, these amounts include all costs for raw materials and Third-Party OLED Materials purchased for UDC's account in accordance with subsection 6.2.1 above, and for Intermediates produced for UDC's account in accordance with subsection 6.2.2 above.
Sample 1

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