Safety Stocks. Immediately following the execution of this Agreement by both parties, the parties will meet and confer and negotiate in good faith in order to agree upon provisions concerning the arrangements for a safety stock of each of the Products and plans for the creation of the initial safety stock and a reasonable schedule therefor. It is the parties' intent to agree upon such provisions within sixty (60) days of the date of this Agreement. The Supervisory Boards will from time-to-time review the adequacy of such arrangements for such safety stocks. Notwithstanding any other provision of this Agreement, if Gen-Probe is otherwise unable to deliver any Product in accordance with this Agreement, then that portion (if any) of the safety stock of that Product stored at Gen-Probe facilities may be applied to meet Chiron's demand for that Product, provided that Gen-Probe shall then be required to restore the safety stock within the applicable periods for cure of a failure to supply pursuant to Article 3 or 4, unless otherwise mutually agreed. Gen-Probe shall give Chiron fifteen (15) days prior written notice before using any safety stock Product in a manner which reduces the amount of the safety stock. ***Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. With respect to any Initial Blood Screening Assay or Future Blood Screening Assay, the objective of the parties is to share equally the aggregate cost of maintaining safety stocks of raw components, work-in-progress, and finished as required by CBER. Gen-Probe will carry the safety stock of raw components and work-in-progress for such Assays, and will carry one months safety stock in the event that more than two months' supply of such Assays is mandated as safety stock. Chiron shall carry all other safety stocks for such Assays, unless such responsibility places a disproportionate burden with respect to overall safety stock costs on Chiron, in which event the Supervisory Board will readjust the parties' responsibilities.
Safety Stocks. Seller shall maintain safety stocks which are adequate to assure the continuous supply of Pulp to K-C set forth in Exhibit A, taking into account K-C’s forecasts, Seller’s production schedule, normal shipping times for vessel and inland shipments and other pertinent factors. In the event that K-C believes that additional safety stock is required, K-C shall discuss in good faith the safety-stock levels with Seller. If after the discussions, K-C reasonably determines that additional safety stock is needed, it shall so notify Seller and, at Seller’s election either (i) Seller may bring the safety-stock level to the required level within 30 days of receipt of K-C’s notice or (ii) K-C may purchase Pulp from other suppliers and Seller shall pay K-C the difference between the higher price paid by K-C for safety stock on the open market and the price K-C would have paid Seller if Seller had supplied Pulp as required by this Agreement, plus liquidated damages equal to ten percent (10%) of such difference in lieu of any other direct, indirect, incidental, special or consequential damages arising from such failure to deliver. Any tonnage purchased by K-C from other suppliers pursuant to this Section 2.05 shall be deducted from K-C’s Annual Purchase Obligation and Seller’s Annual Supply Obligation.
Safety Stocks. Section 6.12 (Safety Stocks) is hereby deleted and replaced, in its entirety, as follows:
Safety Stocks. (a) The Supervisory Board will from time-to-time review and establish the appropriate level of Safety Stocks for the Blood Screening Assays. The parties agree that the appropriate level of Safety Stock for the Initial Blood Screening Assay as of the Amendment Effective Date is reflected in the five month inventory requirement described in Section 6.3.4 above.
(b) With respect to any Initial Blood Screening Assay or Future Blood Screening Assay, the objective of the parties is to share equally the aggregate cost of maintaining safety stocks of raw components, work in progress, and finished goods as required by CBER."
Safety Stocks. To help ensure the timely supply of Filled Products, Cubist shall use Commercially Reasonable Efforts to keep a safety stock of at least [*] inventory of Filled Products, based on the monthly average of quantities forecasted in the Rolling Forecast.
Safety Stocks. Q-Med shall maintain a safety stock of at least [*] months demand of the Licensed Products and QMS shall maintain a safety stock of at least [*] months demand of the Licensed Products, based on the average quantities of Licensed Products ordered in QMS’ last [*] monthly Firm Orders (the “Q-Med Safety Stock” or the “QMS Safety Stock” as applicable). The Parties intend to increase each Party’s safety stock to at least [*] months demand once Licensed Product expiration dating makes it feasible to do so. * Confidential treatment requested; certain information omitted and filed separately with the SEC.
Safety Stocks. Commencing three (3) months after the Effective Date and thereafter during the Term, Alphatec shall use Diligent Efforts to: (a) keep (which may be through its TPMs) a safety stock of at least [***] inventory of each Product, and (b) keep (which may be through its TPMs) at least [***] inventory of the materials necessary to manufacture each Product; in each of (a) and (b) above, based on the monthly average of quantities for such Product forecasted during the first six (6) months of the most recently updated Forecast. Notwithstanding the foregoing, prior to April 1, 2017, the requirement set forth in this Section 3.5 shall not apply with respect to any of the Products designated on Schedule 1.18 as part of the “Arsenal” family of Products, other than with respect to the Globus’ forecasted demand for such “Arsenal” family of Products in Japan and the United Kingdom.
Safety Stocks. Q-Med shall maintain a safety stock of at least [*] months demand of the Licensed Products and Ireland shall maintain a safety stock of at least [*] months demand of the Licensed Products, based on the average quantities of Licensed Products ordered in Ireland’s last [*] monthly Firm Orders (the “Q-Med Safety Stock” or the “Ireland Safety Stock” as applicable). The Parties intend to increase each Party’s safety stock to at least [*] months demand once Licensed Product expiration dating makes it feasible to do so. * Confidential treatment requested; certain information filed separately with the SEC.
Safety Stocks. Beginning at the time DRC supplies its first Non-Binding Forecast pursuant to this Agreement, AEG shall maintain for the Term of this Agreement a Safety Stock of qualified alloy sufficient to allow coating of DRC’s forecast for Selenium Coatings to be provided during the **** following the then-current month. DRC shall build up and shall maintain for the Term of this Agreement a Safety Stock of **** of TFT Substrates or DRC’s forecast to be taken for the next **** following the then current ones, whichever number is higher. Said DRC Safety Stock shall be held, in DRC’s discretion, either at its facility or at AEG. If either Party’s Safety Stock falls below the minimums specified above, or either Party believes that it will not be able to meet the other Pary’s forecast, it will immediately notify the other Party and the parties shall mutually agree on a plan to bring it back to said minimum, and to resolve any problems. Each Party will also report the level of its Safety Stock to the other Party upon request.
Safety Stocks. Zogenix shall use Commercially Reasonable Efforts to build during the first [***] and thereafter to maintain an inventory of Commercial Product [***] which is not less than the equivalent of the [***] ("Safety Stocks"), subject to Available Quota for the Commercial Product. Zogenix shall make Forecasts consistent with this requirement and will make good faith estimates of [***]. If requested by Zogenix, Alkermes and Zogenix shall discuss in good faith the ability of Alkermes or its Affiliates to hold Safety Stocks, the storage of such Safety Stocks being at [***].
