Pay or Take Sample Clauses

Pay or Take. (a) Seller agrees to sell and deliver, subject to Force Majeure and Section 3.3, and Buyer agrees to purchase, subject to Force Majeure and Section 3.3, the Annual Volumes of Products to be produced under the direction of Seller during each Calendar Year as determined in Article II. If for any Calendar Year, Seller fails for any reason other than Force Majeure to tender to Buyer at least ninety percent (90%) of the designated Annual Volumes of Products, Seller will pay Buyer at a rate of $15.00 per ton multiplied by the difference between (x) ninety percent (90%) of the Annual Volumes of Products for the applicable Calendar Year minus (y) the volume of Products actually tendered by Seller during such Calendar Year, as liquidated damages and not as a penalty, and Buyer shall have no further claim for damages on account of such shortfall in the delivery of the Annual Volumes. Payment shall be made by Seller to Buyer on demand no later than fifteen (15) days from Buyer’s written request for such payment. Notwithstanding the foregoing: (i) if adverse weather conditions during the last ninety (90) days of any Calendar Year prevent Seller from delivering the Annual Volumes of Natural Hardwood or Pine Pulpwood for said Calendar Year, the payments provided for in this Section 4.2(a) shall not apply unless and to the extent said volumes (together with any volumes required with respect to the first quarter of the following Calendar Year) are not delivered on or before March 31 of the following Calendar Year, and (ii) if adverse weather conditions during any Calendar Year prevent Seller from delivering the Annual Volumes of Plantation Hardwood for said Calendar Year, the payments provided for in this Section 4.2(a) shall not apply unless and to the extent said volumes (together with any volumes required with respect to the following Calendar Year) are not delivered on or before December 31 of the following Calendar Year. Seller shall keep Buyer advised of any such adverse weather conditions and Seller’s need for additional time to deliver said volumes. (b) If for any Calendar Year, Buyer fails for any reason other than Force Majeure to purchase at least ninety percent (90%) of the Annual Volumes of Products from Seller, then Buyer shall pay Seller for the shortage at a rate of $15.00 per ton multiplied by the difference between (x) ninety percent (90%) of the Annual Volumes of Products for the applicable Calendar Year minus (y) the volume of Products actually purchas...
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Pay or Take 
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Related to Pay or Take

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