Common use of Minimum Purchase Obligations Clause in Contracts

Minimum Purchase Obligations. Distributor hereby undertakes to purchase and take actual delivery of the following minimum amounts, in each of the 3 years specified below, as its Annual Purchases. The following are the Minimum Purchase Obligations by the Distributor: 5.1 At least 10 (ten) units in the first year following the effective date of this Agreement, of which is no less 5 (five) units shall be ordered for delivery within the first half of the said year. 5.2 At least 17 (Seventeen) units in the second year following the effective date of this Agreement, of which no less than 8 (eight) units shall be ordered for delivery within the first half of the said year. 5.3 At 22(Twenty two) units in the third year following effective date of this Agreement of which no less than 11 (Eleven) units shall be ordered for delivery within the first half of said year. 5.4 With regard to the first year of this Agreement, Distributor shall place its written order within 15 (fifteen) days following the effective date of this Agreement. With regard to all subsequent years, the orders shall be received no later than the 60th day prior to the upcoming quarter. 5.5 Distributor shall forward, together with each written order, an irrevocable letter of credit in the amount of the order ("Letter of Credit") or Pre Paid of 50% (fifty) of the total sum on date of order and the balance will be pay before the delivery date. 5.6 It is explicitly agreed between the parties that, in the event Distributor does not meet all or any one of its Minimum Purchase Obligations, it shall be a material breach of this Agreement and MCM shall have the absolute right, at its sole discretion, to terminate this Agreement by giving a thirty (30) days prior written notice to Distributor. If the Agreement is so terminated, no sums or other form of compensation shall be due to MCM from Distributor by reason of Distributor failure to meet its Minimum Purchase Obligations. Distributor shall provide MCM, on a quarterly basis, and no later than the seventh day of each quarter with a detailed written report of all sales of Equipment and installations made by the Distributor in the Territory. Such report shall include the following: (i) the name, address and telephone number of the purchaser of the Equipment;(ii) date of sale; (iii) exact location of the Equipment in the purchaser's premises; (iv) names of the contact persons for sales and technical support; and (v) the serial number of the Equipment. In addition such report shall include information regarding repairs and spare parts, all as set forth in Section 11.5 of this Agreement.

Minimum Purchase Obligations. Distributor hereby undertakes to purchase and take actual delivery of the following minimum amounts, in each of the 3 years specified below, as its Annual Purchases. The following are the Minimum Purchase Obligations by the Distributor:. 5.1 5.1. At least 10 (ten) ______________ units in the first year following the effective date of this Agreement, of which is no less 5 (five) than ______________ units shall be ordered for delivery within the first half of the said year. 5.2 5.2. At least 17 (Seventeen) ______________ units in the second year following the effective date of this Agreement, of which no less than 8 (eight) ______________ units shall be ordered for delivery within the first half of the said year. 5.3 5.3. At 22(Twenty two) least ______________ units in the third year following the effective date of this Agreement Agreement, of which no less than 11 (Eleven) ______________ units shall be ordered for delivery within the first half of said year. 5.4 5.4. With regard to the first year of this Agreement, Distributor shall place its written order within 15 (fifteen) days from the beginning of the second quarter following the effective date of this AgreementEffective Date. With regard to all subsequent years, the orders shall be received no later than the 60th day prior to the upcoming quarter. 5.5 5.5. Distributor shall forward, together with each written order, an irrevocable letter of credit in the amount of the order ("Letter of Credit") or Pre Paid of 50% (fifty) of the total sum on date of order and the balance will be pay before the delivery date). 5.6 5.6. It is explicitly agreed between the parties that, in the event Distributor does not meet all or any one of its Minimum Purchase Obligations, it shall be a material breach of this Agreement and MCM shall have the absolute right, at its sole discretion, to terminate this Agreement by giving a thirty (30) days prior written notice to Distributor. If the Agreement is so terminated, no sums or other form of compensation shall be due to MCM from Distributor by reason of Distributor failure to meet its Minimum Purchase Obligations, provided that such failure to meet the Minimum Purchase Obligations by Distributor is not due to or as a result of Distributor's gross negligence, omission, willful malfeasance or fraud. 5.7. Distributor shall provide MCM, on a quarterly basis, and no later than the seventh day of each quarter quarter, with a detailed written report of all sales of Equipment and installations made by the Distributor in the Territory. Such report shall include the following: (i) the name, address address, and telephone number of the purchaser of the Equipment;(iiEquipment; (ii) date of sale; (iii) exact location of the Equipment in the purchaser's premises; (iv) names of the contact persons for sales and technical support; and (v) the serial number of the Equipment. In addition such report shall include information regarding repairs and spare parts, all as set forth in Section 11.5 of this Agreement.

Minimum Purchase Obligations. Distributor hereby undertakes to purchase and take actual delivery of the following minimum amounts, in each of the 3 years specified below, as its Annual Purchases. The following are the Minimum Purchase Obligations by the Distributor:. 5.1 5.1. At least 10 5 (tenfive) units in the first year following the effective date of this Agreement, of which is no less than 3 (three) units shall be ordered for delivery within the first half of the said year. 5.2. At least 10 (ten) units in the second year following the effective date of this Agreement, of which no less than 5 (five) units shall be ordered for delivery within the first half of the said year. 5.2 5.3. At least 17 15 (Seventeenfifteen) units in the second third year following the effective date of this Agreement, of which no less than 8 7 (eight) units shall be ordered for delivery within the first half of the said year. 5.3 At 22(Twenty two) units in the third year following effective date of this Agreement of which no less than 11 (Elevenseven) units shall be ordered for delivery within the first half of said year. 5.4 5.4. With regard to the first year of this Agreement, Distributor shall place its written order within 15 (fifteen) days from the beginning of the second quarter following the effective date of this AgreementEffective Date. With regard to all subsequent years, the orders shall be received no later than the 60th day prior to the upcoming quarter. 5.5 5.5. Distributor shall forward, together with each written order, an irrevocable letter of credit in the amount of the order ("Letter of Credit") or Pre Paid of 50% (fifty) of the total sum on date of order and the balance will be pay before the delivery date). 5.6 5.6. It is explicitly agreed between the parties that, in the event Distributor does not meet all or any one of its Minimum Purchase Obligations, it shall be a material breach of this Agreement and MCM shall have the absolute right, at its sole discretion, to terminate this Agreement by giving a thirty (30) days prior written notice to Distributor. If the Agreement is so terminated, no sums or other form of compensation shall be due to MCM from Distributor by reason of Distributor failure to meet its Minimum Purchase Obligations, provided that such failure to meet the Minimum Purchase Obligations by Distributor is not due to or as a result of Distributor's gross negligence, omission, willful malfeasance or fraud. 5.7. Distributor shall provide MCM, on a quarterly basis, and no later than the seventh day of each quarter quarter, with a detailed written report of all sales of Equipment and installations made by the Distributor in the Territory. Such report shall include the following: (i) the name, address address, and telephone number of the purchaser of the Equipment;(iiEquipment; (ii) date of sale; (iii) exact location of the Equipment in the purchaser's premises; (iv) names of the contact persons for sales and technical support; and (v) the serial number of the Equipment. In addition such report shall include information regarding repairs and spare parts, all as set forth in Section 11.5 of this Agreement.