Common use of Establishment of Pool Accounts Clause in Contracts

Establishment of Pool Accounts. 7.1 T&G Pipfruit will maintain separate accounts for Fruit determined by T&G Pipfruit to have common characteristics (a “Pool Account”). Characteristics may include, but not be limited to, variety, size, grade, growing method, brand, customer and marketability. 7.2 Each Pool Account will be maintained in New Zealand dollars, with all foreign currency conversions to be at such exchange rates as T&G Pipfruit determines, acting reasonably and prudently. 7.3 T&G Pipfruit reserves the right to recover from the Supplier any loss in Sales Revenue and any additional Costs that arise as a result of Fruit allocated to a particular Pool Account not meeting market access requirements in respect of the markets in which it was determined that the relevant Fruit would be sold as documented in Schedule 2 and/or Schedule 3 as applicable. If T&G Pipfruit determines that no other markets exist or will provide a reasonable commercial return for that Fruit, it will advise the Supplier accordingly and either: a. notify the Supplier that it may, within 5 days of receiving such notification from T&G Pipfruit, either: i. advise T&G Pipfruit that the amount payable to the Supplier with respect to such Fruit shall be the amount T&G Pipfruit actually receives for the Fruit (subject to the normal deductions); or ii. request that T&G Pipfruit return that Fruit to the Supplier, at the Supplier’s cost, provided that, if no advice or request is provided by the Supplier within such 5 day period, then the Supplier will be deemed to have advised T&G Pipfruit in accordance with clause 7.3ai; or b. where T&G Pipfruit determines that return of the Fruit to the Supplier is not reasonably practicable, advise the Supplier that the amount payable to the Supplier with respect to such Fruit shall be the amount T&G Pipfruit actually receives for the Fruit (subject to the normal deductions).