Exhibit 10.26
Confidential portions of this document have been omitted and filed separately
with the Commission.
FIXED-PRICE PURCHASE AND SALE AGREEMENT
This Agreement ("Agreement") dated November 27, 1996 is between Dolton Aluminum
Company, Inc. ("Seller") and FEATHERLITE TRAILERS ("Buyer").
Seller desires to sell certain goods to Buyer and Buyer desires to purchase
certain goods from Seller.
NOW, THEREFORE, in consideration of these premises and the following mutual
agreements, the parties agree as follows:
1. Seller will sell to Buyer, and Buyer will purchase from Seller, the aluminum
extrusions identified on Schedule A attached hereto ("Product"), subject to the
terms contained in this Agreement and the attached Schedule A. The quantity,
delivery dates, and prices, for Product are also set forth on Schedule A.
2. This Agreement shall have a term from the date hereof to December 31, 1997.
This Agreement may not be canceled by either party prior to the termination date
without the prior written consent of the other. Buyer acknowledges that Seller
intends to rely on this Agreement in fixing the prices and delivery dates of its
raw material purchases necessary to fulfill this Agreement and as such, Buyer
agrees to pay for the quantity specified on Schedule A whether or not Buyer
places specific orders with Seller as specified in Item 3 below.
3. Buyer agrees to place specific firm orders with Seller for the Product at
least 28 days prior to the requested shipment date which shall specify the
number of pounds, feet, or pieces of specific aluminum extrusion shapes. Seller
will attempt to respond to Buyer's order requests with less than 28 day lead
time but shall be under no obligation to do so. Seller is required to
manufacture and ship only product for which Seller has timely received specific
firm orders.
4. Seller's obligations hereunder are subject to Seller's credit approval with
respect to each shipment and to the availability of financial information on
Buyer which, in the Seller's opinion, is adequate to demonstrate the Buyer's
financial condition, ability to pay for shipments in accordance with agreed
terms of payment, and ability to support the volume of credit extended by the
Seller.
Payment terms for the Product shall be as set forth in Schedule A. Seller's
obligation to continue shipments of Product is conditioned upon Buyer satisfying
its payment obligations under this Item 4 in full within the time period
specified.
5. Either party's failure, at any time or times hereafter, to require strict
performance by the other party of any provision of this Agreement shall not
constitute a waiver, or affect or diminish the right thereafter to demand strict
compliance and performance of this Agreement.
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Fixed-Price Purchase and Sale Agreement
6. This Agreement (including Schedule A) shall constitute the entire agreement
between the parties with respect to the subject matter hereof and shall not
apply to any purchases by Buyer in excess of the quantities set forth in
Schedule A. The terms of any such excess purchases will be governed by separate
agreement of the parties. Except as specified in this Agreement, the terms of
sale and rights of the parties with respect to any specific order shall be as
set forth in Seller's order acknowledgment as provided from time to time.
By: Xxxx Xxxxx By: Xxxxx X. Xxxxxx
Title: Vice President Title: Vice President
Manufacturing Sales and Marketing
Signature: /s/ Xxxx Xxxxx Signature: /s/ Xxxxx X. Xxxxxx
FEATHERLITE TRAILERS DOLTON ALUMINUM CO., INC.
(BUYER) (SELLER)
Dated: 11/27/96 Dated: 11-27-96
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SCHEDULE A
Material Description: This agreement covers custom and standard extrusions
currently being supplied or quoted to FEATHERLITE TRAILERS (Buyer") by Dolton
Aluminum Company, Inc. ("Seller") with specific pounds/pieces/feet by specific
shape to be supplied by Buyer.
Quantity: ********** pounds per calendar month for a total of ********** pounds.
Delivery Period: January 1, 1997 through December 31, 1997.
Price: $********** per pound for solid aluminum extrusions, add $********** per
pound for hollows.
Packaging: Standard - Bare Bundle.
Tolerance: Aluminum Association standards to apply.
FOB: FEATHERLITE TRAILERS, Cresco, IA.
Total Dollar Value of Contract: Approximately $**********.
Terms: Net 30 days.
By: Xxxx Xxxxx By: Xxxxx Xxxxxx
Title: Vice President Title: Vice President Marketing
Signature: /s/ Xxxx Xxxxx Signature: /s/ Xxxxx Xxxxxx
FEATHERLITE TRAILERS DOLTON ALUMINUM CO., INC.
(BUYER) (SELLER)
Dated: 11/27/96 Dated: 11-27-96
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