Shortfall Credit Sample Clauses
The Shortfall Credit clause establishes a mechanism for addressing situations where a party fails to deliver the full amount of goods, services, or payments required under a contract. In practice, this clause typically allows the non-defaulting party to receive a credit or compensation equivalent to the value of the shortfall, which may be applied against future obligations or invoiced separately. Its core function is to ensure that the affected party is made whole for any deficiencies, thereby allocating risk and promoting fairness in the event of partial non-performance.
Shortfall Credit. If there is a Shortfall for a Product in a Year, then Patheon will credit Client’s account for the amount of the Shortfall not later than 60 days after the end of such Year.
Shortfall Credit. The dollar amount of any Shortfall Amount attributable to throughput, additive, blending and processing services (but not storage) paid by WNR shall be posted as a credit (a “Credit”) to WNR’s account and may be applied against any Excess Amounts owed by WNR during any of the succeeding twelve (12) Months. Credits will be applied in the order in which such Credits accrue and any remaining portion of the Credit that is not used by WNR during the succeeding twelve (12) Months shall expire (e.g., a Credit that accrues in January 2013 will be available through January 2014, will expire at the end of January 2014, and must be applied prior to applying any Credit which accrued in February 2013). TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**).
Shortfall Credit. Annually, and consistent with the Patheon Agreement, Orexigen will notify Takeda if any Shortfall (as such term is defined in the Patheon Agreement) credit, prorated by the applicable Capacity Percentage, is owed to Orexigen pursuant to Section 2.2.3 of the Patheon Agreement with respect to the Product delivered to Takeda, and Orexigen shall apply any such credit, prorated by the applicable Capacity Percentage received from Patheon, against subsequent payments owed by Takeda to Orexigen under this Agreement.
Shortfall Credit. The dollar amount of any Shortfall Amount attributable to throughput services (but not storage) paid by Customer shall be posted as a credit (a “Credit”) to Customer’s account and may be applied against any Excess Amounts owed by Customer during the remaining calendar year. Credits will be applied in the order in which such Credits accrue and any remaining portion of the Credit that is not used by Customer during the remaining calendar year shall expire at the end of such calendar year (e.g., a Credit that accrues in January 2019 will be available through December 2019 and will expire on December 31, 2019).
Shortfall Credit. The dollar amount of any Shortfall Amount attributable to throughput, additive, blending and processing services (but not storage) paid by WNR shall be posted as a credit (a “Credit”) to WNR’s account and may be applied against any Excess Amounts owed by WNR during any of the succeeding twelve (12) Months. Credits will be applied in the order in which such Credits accrue and any remaining portion of the Credit that is not used by WNR during the succeeding twelve (12) Months shall expire (e.g., a Credit that accrues in January 2013 will be available through January 2014, will expire at the end of January 2014, and must be applied prior to applying any Credit which accrued in February 2013).
Shortfall Credit. The dollar amount of any Shortfall Amount attributable to throughput, Additive and Blending Services (but not storage) paid by SPPR shall be posted as a credit (a “Credit”) to SPPR’s account and may be applied against any Excess Amounts owed by SPPR during any of the succeeding twelve (12) Months. Credits will be applied in the order in which such Credits accrue and any remaining portion of the Credit that is not used by SPPR during the succeeding twelve (12) Months shall expire (e.g., a Credit that accrues in January 2017 will be available through January 2018, will expire at the end of January 2018, and must be applied prior to applying any Credit which accrued in February 2017).