Common use of Minimum Purchase Clause in Contracts

Minimum Purchase. (a) The Licensee agrees that it will order and purchase Products from Gelteq to the value and quantity of at least the Initial Order set out in Schedule 1. The parties agree that the Initial Order may not be cancelled at any time by the Licensee. (b) The Licensee agrees that the order for the Initial Order and Subsequent Order will be placed within the first 12 months of this Agreement being signed. (c) The parties agree that the Subsequent Order (as defined in Scheduled 1) may be cancelled at any time after the Licensee has paid in full for, and accepted delivery of, the Initial Order but before payment is made on the Subsequent Order. If payment is made for the Subsequent Order, it cannot be cancelled.