Future Contract Years — Purchase Shortfalls and Possible Deferrals Sample Clauses

Future Contract Years — Purchase Shortfalls and Possible Deferrals. In the Agreement, the First Amendment and the Third Amendment, Gintech had previously committed to purchase certain Yearly Minimum Quantities from MEMC Singapore, on a set price curve, which would have resulted in minimum aggregate revenues in each Contract Year to MEMC Singapore (the minimum aggregate revenue for each Contract Year, the “Contract Year X Revenue Amount”). For Contract Year 3 and future Contract Years, Gintech has requested relief from (x) the take or pay provisions of Section 2.2 of the Agreement and (y) the requirement of payment of any Purchase Shortfalls under Section 2.2(d) of the Agreement immediately after the conclusion of any Contract Year (pursuant to the provisions of Section 2.2(d)). MEMC Singapore is unwilling to provide such unconditional relief from these take or pay and Purchase Shortfall provisions for future Contract Years, but MEMC Singapore is willing to provide Gintech with an opportunity to defer the immediate payment of Purchase Shortfalls for future Contract Years (as MEMC has provided for Contract Year 3 in Section 1.3(c) above), pursuant to the procedures set forth in Section 1.4 below, including specifically Section 1.4(e). The amount by which the aggregate revenue to MEMC Singapore from actual purchases made by Gintech in any individual Contract Year is less than the Contract Year X Revenue Amount is the “Contract Year X Purchase Shortfall.”
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Related to Future Contract Years — Purchase Shortfalls and Possible Deferrals

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