Common use of Scheduled Quantity (SQ Clause in Contracts

Scheduled Quantity (SQ. The monthly Scheduled Quantity (SQ) shall be one third (1/3rd) of the QQ, as has been revised by the Purchaser in terms of clause 4.3(a). The Parties agree that if the quantity sought to be lifted by the Purchaser in a month within the SQ is not sufficient to form a rake, formation of rake would be allowed by clubbing the quantity of the next month and so on within the quarter. If at the end of the quarter, any residual quantity is left due to inability to form a rake, being fraction of rake it would be carried over to the next quarter for the purpose of rake formation. If at the end of fourth quarter, the residual quantity is 0.5 fraction or more of the rake quantity it would be rounded off to a rake and if the residual quantity is less than 0.5 fraction of the rake quantity, it shall lapse.

Appears in 5 contracts

Samples: d3u7ubx0okog7j.cloudfront.net, Date of Agreement, mahanadicoal.in

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