Minimum Delivery Obligation Sample Clauses
A Minimum Delivery Obligation clause requires one party, typically a supplier or seller, to deliver at least a specified minimum quantity of goods or services within a defined period. This clause sets a baseline for performance, ensuring that the buyer receives a guaranteed amount regardless of fluctuations in demand or other circumstances. For example, a manufacturer may be obligated to supply at least 1,000 units per month to a retailer. The core function of this clause is to provide certainty and security for the receiving party, helping them plan operations and manage inventory by ensuring a reliable supply.
Minimum Delivery Obligation. With respect to each Delivery Year in the Delivery Term, the Facility’s Delivery Year Performance must equal or exceed the Minimum Delivery Commitment. Failure of the Facility’s Delivery Year Performance to meet the Minimum Delivery Commitment shall constitute an Event of Default. For avoidance of doubt, the Delivery Year Performance and Minimum Delivery Commitment shall be adjusted to account for any Suspension Period. The IPA shall determine if the Facility has met this requirement within thirty (30) days following the end of the Delivery Year. If it is determined by the IPA that the Facility has failed to meet this requirement, then IPA shall provide written notice of such failure to Buyer and Seller, and the Buyer shall notify the Seller of the Event of Default within ten (10) Business Days of receipt of such notice from the IPA. Upon notifying the Seller of the occurrence of such Event of Default, Seller shall have ten (10) Business Days to either demonstrate to the satisfaction of each of IPA and Buyer in their respective sole discretion, that such Event of Default has not occurred, or to effect a cure by making a payment in the amount of the Shortfall Payment Amount. For the avoidance of doubt, if Seller cures such Event of Default by making payment in the amount of the Shortfall Payment Amount in a timely manner, then the Event of Default shall cease to be an Event of Default upon such payment. If Seller fails to demonstrate that such Event of Default has not occurred or fails to cure the Event of Default within ten (10) Business Days of Seller’s receipt of Buyer’s notice, then Buyer shall terminate this CMC Contract. If Seller cures such Event of Default by making payment in the amount of Shortfall Payment Amount, then for purposes of calculating the Delivery Year Performance in future Delivery Years, the Delivery Year Actual Generation associated for the Delivery Year that failed to meet the Minimum Delivery Commitment shall be deemed to equal to the sum of the (a) Delivery Year Actual Generation and (b) the result obtained by multiplying the Shortfall CMC Quantity by five (5). For such Event of Default (provided such Event of Default is not cured by Seller in accordance with the foregoing), Buyer shall be entitled to payment by Seller in the amount of the Collateral Requirement and any outstanding amounts that are due to Buyer related to the Delivery of CMCs or related to the value of any monetized Subsidy received by Seller. The Parties acknowl...
Minimum Delivery Obligation. (a) (i) Upon execution of this Agreement, Writer shall deliver to Publisher those existing Compositions set forth on Schedule A attached hereto (“Schedule A Compositions”). For purposes of clarity, delivery of Schedule A Compositions shall not apply or count toward Writer’s Minimum Delivery Obligation (defined below).
(ii) During each annual contract period, Writer shall deliver to Publisher in satisfaction of Writer’s minimum delivery obligation (“Writer’s Minimum Delivery Obligation”) at a minimum the equivalent of twelve (12) New Compositions (as defined in Paragraph 4(a) below) entirely created by Writer which are commercially and artistically satisfactory to Publisher in Publisher’s reasonable good faith judgment. A New Composition shall be deemed commercially and artistically satisfactory unless Publisher provides Writer written notice of rejection within ten (10) days of Writer’s delivery of such New Composition. If Publisher shall reject any New Composition as unsatisfactory, such New Composition shall nonetheless be subject to the terms of this Agreement, but shall not count in the reduction of Writer’s Minimum Delivery Obligation. Both Writer and Publisher acknowledge and agree that the complete and timely fulfillment of Writer’s Minimum Delivery Obligation is a material term of this Agreement.
(iii) New Compositions(s) not entirely created by Writer shall apply in reduction of Writer’s Minimum Delivery Obligation as a fractional New Composition(s) in proportion to Writer’s fractional creative contribution to such New Composition.
(iv) No New Composition shall contain any samples(s) without Publisher’s consent. If a New Composition(s) contains a sample which has been used with Publisher’s consent, Writer’s fractional creative contribution to the New Composition shall be reduced by: (A) a percentage equal to the percentage of the New Composition copyright assigned to the owner of the sample in question, or (B) the income participation percentage in the New Composition granted to the owner of the sample, as applicable.
(i) Each New Composition shall be delivered to Publisher promptly after such New Composition is created. Each New Composition and part thereof shall be deemed created and subject hereto as a New composition at the earliest point in time when that New Composition or any part thereof is initially the subject matter of copyright and in which copyright protection may subsist in accordance with the copyright laws of the United States or, ...
Minimum Delivery Obligation. A Delivery Schedule satisfies the Minimum Delivery Obligation if: (1) the Scheduled Off-Peak MW Hours as a percentage of the Maximum Off-Peak MW Hours is less than or equal to 100% and greater than or equal to the off-peak capacity factor in Exhibit F; and (2) the Scheduled On-Peak MW Hours as a percentage of the Maximum On-Peak MW Horus is less than or equal to 100% and greater than or equal to the on-peak capacity factor in Exhibit F.