REQUIREMENTS AGREEMENT Sample Clauses
A Requirements Agreement clause defines the specific obligations, standards, and deliverables that a party must meet under a contract. It typically outlines the technical, functional, or performance criteria that products or services must satisfy, and may include processes for documenting, reviewing, and updating these requirements as the project progresses. This clause ensures that both parties have a clear, mutual understanding of what is expected, reducing the risk of disputes over scope or quality and providing a basis for measuring compliance throughout the contractual relationship.
REQUIREMENTS AGREEMENT. In consideration of the rates set forth in the Rate Schedule, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, during the Service Term Customer agrees to purchase one hundred percent (100%) of its telecommunications services requirements for SWITCHED ACCESS Service (1+ and Toll Free) (which services are described in this Agreement) from WorldCom under the terms and conditions set forth in this Agreement ("CUSTOMER'S REQUIREMENTS OBLIGATION"). Upon request from WorldCom, Customer agrees to provide WorldCom reasonable documentation evidencing Customer's compliance with this Section 14 and if requested by WorldCom, agrees to allow WorldCom or its representatives to audit Customer's books and records as may be necessary solely to ensure Customer's compliance with Customer's Requirements Obligation. In the event Customer is in breach of this Agreement, in addition to WorldCom's other rights and remedies described in this Agreement, notwithstanding anything to the contrary contained in the Agreement, WorldCom shall have the right to immediately increase Customer's SWITCHED ACCESS Service rates set forth in the Rate Schedule to --**--. Any increase as described herein will not affect Customer's Minimum Revenue Commitment set forth in Section 2 above.
REQUIREMENTS AGREEMENT. 2.1 Generally: LS&CO. agrees to purchase from Cone, and Cone agrees to manufacture and sell to LS&CO., all XXX Denim that may be required by LS&CO. in its business. Cone shall not sell, or otherwise make XXX Denim available, to any person other than LS&CO., and LS&CO. shall not purchase, or otherwise obtain XXX Denim from, any other source than Cone, during the term of the obligations created by this Section 2; that is, this is an "exclusive" agreement on the part of both LS&CO. and Cone.
2.2 Ordering and Pricing: Cone shall deliver XXX Denim to LS&CO. in accordance with specific orders placed by LS&CO. Cone and LS&CO. shall document those orders and deliveries by use of, and their terms (including, without limitation, those relating to warranties, remedies and shipment terms and except as otherwise set forth in this Agreement) shall be governed by, the Order Documentation. Cone and LS&CO. shall determine the price for a specific delivery at or before the time LS&CO. places the order for that delivery, it being understood that Cone and LS&CO. intend to be bound in respect of and to conclude these specific sales even though the price for specific sales is not settled as of the date of this Agreement.
REQUIREMENTS AGREEMENT. Distributor shall purchase all of its requirements of Product exclusively from Supplier. Distributor shall provide Supplier with a 12-month, rolling, non-binding forecast of Distributor’s requirements of any Product for the Prefabricated Home Market, which shall be updated by Distributor on a monthly basis.
REQUIREMENTS AGREEMENT. Kos hereby agrees to exclusively supply and sell to Merck, and Merck agrees to purchase, all of Merck's requirements for the Products in the Territory during the Term in accordance with the terms of this Agreement.