Minimum Volumes. Except as set forth in Section 3.3.1, commencing the first calendar year following the later of (i) FDA approval or clearance of the Product, or (ii) FDA approval or clearance of the SRM Neuroprotection System, SRM agrees that SRM will purchase (A) a minimum of [***********] units of Product during the first full calendar year, and (B) minimum of [**********] units of Product annually thereafter (the “Minimum Volume”). The Minimum Volume shall be binding on SRM until the natural expiration of the License Agreement, due to expiration of the last-to-expire of the Licensed IP, if the License Agreement remains in effect through such natural expiration, For the avoidance of doubt, Cordis may terminate this Agreement according to Section 11.2., if SRM fails to meet the Minimum Volume requirement set forth in this Section 3.3 and Section 3.3.1.
Minimum Volumes. There will be no requirement for Minimum Volume under this CDP to maintain exclusivity.
Minimum Volumes. 20.1 Whether a Participant is obliged under this Framework Agreement to purchase a minimum volume of goods, services or works under any Commissioned Contract of a Call-off Partnership Only to the extent indicated in the relevant Work Order.
Minimum Volumes. 11.3.1 The lessee shall procure that -
Minimum Volumes. CMC shall be obligated to purchase from Cabot during each six month period covered by a Six Month Forecast a "Minimum Volume," meaning at least 90% of the aggregate volumes of Fumed Silica forecasted to be purchased by CMC as set forth in each Six Month Forecast. Cabot and CMC recognize that damages for CMC's failure to purchase Minimum Volumes would be difficult to ascertain and prove. Cabot and CMC agree that if, during any six month period CMC fails to purchase from Cabot the Minimum Volume of Fumed Silica for such six month period, CMC shall pay to Cabot liquidated damages in an amount equal to the product obtained by multiplying (i) the difference (in pounds) between (x) the applicable Minimum Volume and (y) the amount of Fumed Silica actually purchased by CMC during the relevant six month period times (ii) $[ ]. Cabot and CMC agree that such liquidated damages are the sole and exclusive remedy for CMC's failure to purchase Minimum Volumes. Cabot and CMC further agree that such liquidated damages represent a reasonable estimate of Cabot's damages and do not constitute a penalty.
Minimum Volumes. 5.1 Schedule or Service Order Minima. Customer shall meet each Monthly Period and/or Minimum Service Period minimum, as applicable, set forth in the relevant Schedule or Service Order hereto. 5.2
Minimum Volumes. Subject to the provisions of Sections 1.2 through 1.4, inclusive, Crown Pacific agrees to make available for sale to Team Millwork, on the terms and conditions set forth in this Agreement, the following volumes of 1-9/16 inch Grade 3 and Better Random Width Random Length Ponderosa Pine Shop Lumber ("SHOP LUMBER"):
Minimum Volumes. Subject to Section 9.5, the Distributor will, in the ordinary course, order in each year of this Agreement, and pay for, the minimum volumes of Products set out in Schedule "B" and the Manufacturer will deliver such minimum volumes of Products in accordance with the other terms and conditions of this Agreement.
Minimum Volumes. (a) CMC shall be obligated to purchase from Cabot, during each six month period covered by a Six Month Forecast (each, a “Six Month Forecast Period”), a “Minimum Volume,” meaning at least 90% of the aggregate volumes of Fumed Silica forecasted to be purchased by CMC as set forth in such Six Month Forecast; provided however, that if CMC fails to meet the Xxxxx Minimum Volume (as defined in Section 2.4(b) below) during any Six Month Forecast Period and CMC is required to pay compensation under Section 2.4(b) below in connection with such Xxxxx Shortfall (as defined in Section 2.4(b) below), then the Xxxxx Shortfall shall be subtracted from the applicable Minimum Volume for the purposes of the liquidated damages calculation set forth below in this Section 2.4(a)(i)(x) for such Six Month Forecast Period. Cabot and CMC recognize that damages for CMC’s failure to purchase the Minimum Volumes would be difficult to ascertain and prove. Cabot and CMC agree that if, during any Six Month Forecast Period, CMC fails to purchase from Cabot the Minimum Volume of Fumed Silica for such Six Month Forecast Period, CMC shall pay to Cabot liquidated damages in an amount equal to the product obtained by multiplying:
Minimum Volumes. (a) CMC shall be obligated to purchase from Cabot during each six month period covered by a Six Month Forecast a "Minimum Volume," meaning at least 90% of the aggregate volumes of Fumed Silica forecasted to be purchased by CMC as set forth in each Six Month Forecast. Cabot and CMC recognize that damages for CMC's failure to purchase Minimum Volumes would be difficult to ascertain and prove. Cabot and CMC agree that if, during any six month period CMC fails to purchase from Cabot the Minimum Volume of Fumed Silica for such six month period, CMC shall pay to Cabot liquidated damages in an amount equal to the product obtained by multiplying
