Common use of MINIMUM PURCHASE REQUIREMENTS WITH RESPECT TO BIS SENSORS Clause in Contracts

MINIMUM PURCHASE REQUIREMENTS WITH RESPECT TO BIS SENSORS. (a) NK' s minimum purchase of BIS sensors from Aspect under the international distribution agreement between the Parties dated as of the date hereof for the first (1st) Contract Year (as defined in this Agreement) shall be [**] per year for each Product sold by NK hereunder. For the purpose of this provision, such one year period for the minimum purchase of BIS sensors for each Product shall separately commence on the first day of the month following the month when NK resells such Product to NK's customers. To administer this provision, NK shall inform Aspect from time to time (but no less frequently than quarterly), to the extent such information is available to NK, of the names and addresses of hospitals purchasing Products from NK and the number of Products sold by NK. On or before the end of the first (1st) Contract Year, the Parties shall review minimum sensor usage based on the actual experience during such Contract Year, and shall adjust this requirement accordingly for subsequent Contract Years. For the purposes of this provision, a "purchase" of sensors within a Contract Year shall mean paying Aspect for such sensors on or before the last day of such Contract Year. (b) Failure to meet the minimum purchase requirement described in Section 3.6(a) above shall constitute a material breach of this Agreement for the purposes of Section 6.2 below. Termination shall be the only consequence of NK failing to satisfy this minimum purchase requirement.