Common use of Purchase Requirements Clause in Contracts

Purchase Requirements. Without prejudice to Seller’s contract law remedies for Buyer's failure to purchase the Annual Minimum quantities, Seller may apply the following remedies: if, in any three (3) month period, Buyer, for any reason (except for reasons of a Force Majeure Event as defined below or a reason attributable to Seller), purchases and accepts less than eighty percent (80%) of the Quarterly Minimum, Seller may reduce, for the remaining Term of the Contract, the Annual Maximum by the same percentage that the quantity actually purchased and accepted by Xxxxx during said three (3) month period falls short of 100% of the Quarterly Minimum (i.e. if 10.

Purchase Requirements. Without prejudice to Seller’s contract law remedies for Buyer's ’s failure to purchase the Annual Minimum quantities, Seller may apply the following remedies: if, in any three (3) month period, Buyer, for any reason (except for reasons of a Force Majeure Event as defined below or a reason attributable to Seller), purchases and accepts less than eighty percent (80%) of the Quarterly Minimum, Seller may reduce, for the remaining Term of the Contract, the Annual Maximum by the same percentage that the quantity actually purchased and accepted by Xxxxx during said three (3) month period falls short of 100% of the Quarterly Minimum (i.e. if 10Buyer purchases 75% of the Quarterly Minimum, then Seller may reduce the Annual Maximum by 25% for the remaining Term); and if Buyer purchases and accepts less than sixty-seven percent (67%) of the Quarterly Minimum, Seller will have the right to immediately terminate the Contract.