Exclusive Suppliers only. New Milk Incentive rate: (Section 2.5) The New Milk Incentive rate is $0.55 per kg butterfat and $1.10 per kg protein (approximately $0.80 per kg Milk Solids) on all Milk accepted by us during the relevant month over and above the New Milk Baseline.
Exclusive Suppliers only. New Milk Baseline for each month for new Exclusive Suppliers: (Section 2.5) Are you a new supplier to us? If yes, please complete the baseline details below*: *If a Baseline Month amount is not specified in the above table, you will not be eligible to receive any New Milk Incentive for the corresponding month during the Term.
Exclusive Suppliers only. New Milk Baseline for each month for new Exclusive Suppliers: (Section 2.5) Are you a new supplier to us? If yes, please complete the baseline details below*: *If a Baseline Month amount is not specified in the above table, you will not be eligible to receive any New Milk Incentive for the corresponding month during the Term. Baseline Month Butterfat (kgs) Protein (kgs) Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Mar-22 Apr-22 May-22 Jun-22
Examples of Exclusive Suppliers only in a sentence
If Milk supplied under this Agreement fails to meet the Quality Standards for Grade 1 Milk, we will also make further deductions from the monthly payments made to you in accordance with section 2.9. For Exclusive Suppliers only, any Productivity Incentive, Growth Incentive, Logistics Incentive or New Milk Incentive (if applicable) will be added by us to the monthly payments made to you, in accordance with sections 2.4, 2.5, 2.6 and Appendix B.
Exclusive Suppliers only All Exclusive Suppliers are eligible to receive a New Milk Incentive if they satisfy the requirements set out in this section.
Exclusive Suppliers only Exclusive Suppliers are eligible to receive a New Milk Incentive if they satisfy the requirements set out in this section.
Exclusive Suppliers only Exclusive Suppliers are eligible to receive a Growth Incentive if they satisfy the requirements set out in this section.
For Exclusive Suppliers only Exclusive Suppliers are eligible to receive a Productivity Incentive.
More Definitions of Exclusive Suppliers only
Exclusive Suppliers only. Growth Incentive rate: (Section 2.6) If you qualify for a top-up payment with respect to a Growth Incentive at the end of the Growth Incentive Period because the amount of the Growth Incentive exceeds the total New Milk Incentives paid to you during the Growth Incentive Period, the top-up payment will be calculated in accordance with, and at the rates identified below. The possible Growth Incentive will be the total of: • the amount of the increase in Milk Solids in Milk accepted by us from you up to 9.99% of your Growth Incentive Baseline (First Incentive Quantity), multiplied by the First Rate; and • the amount of the increase in Milk Solids in Milk accepted by us from you in the Growth Incentive Period that exceeds the First Incentive Quantity (Second Incentive Quantity) multiplied by the Second Rate. For the purposes of the above calculation: • First Rate means $0.18 per kg of butterfat and $0.36 per kg of protein; • Second Rate means $0.72 per kg of butterfat and $1.44 per kg of protein. Baseline Month Butterfat (kgs) Protein (kgs) Jul-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Example 1- Application where you commence supplying Bega at the start of the Financial Year For example, if: • the Growth Incentive Baseline for a Supplier is 60,000 kg butterfat and 40,000 kg protein; and • at the end of the Growth Incentive Period, Bega has accepted 78,000 kg butterfat and 52,000 kg protein from that Supplier, then that Supplier will be entitled to a possible Growth Incentive of: (a) $0.18 per kg butterfat on 5,994 kg of butterfat (being, 9.99% of the butterfat component of the Growth Incentive Baseline of 60,000 kg) i.e. $1,078.92; and (b) $0.36 per kg protein on 3,996 kg protein (being 9.99% of the protein component of the Growth Incentive Baseline of 40,000 kg) i.e. $1,438.56; and (c) $0.72 per kg butterfat on 12,006 kg butterfat (being the balance of total growth in butterfat compared to the Growth Incentive Baseline i.e. 18,000 kg less 5,994 kg) i.e. $8,644.32; and (d) $1.44 per kg protein on 8,004 kg protein (being the balance of total growth in protein compared to the Growth Incentive Baseline i.e. 40,000 kg less 3,996 kg) i.e. $11,525.76, being a total possible Growth Incentive of $22,687.56. The actual Growth Incentive payable to the Supplier will then be the excess of the possible Growth Incentive over the total of any New Milk Incentives already paid to the Supplier in respect of the Growth Incentive Period. Example 2 ...
Exclusive Suppliers only. Growth Incentive rate: (Section 2.6) If you qualify for a top-up payment with respect to the Growth Incentive at the end of each Growth Incentive Period because the amount of the Growth Incentive exceeds the New Milk Incentive paid to you during the Growth Incentive Period, it will be calculated in accordance with, and at the rates identified below. The method that applies for calculating the Growth Incentive will depend on the aggregate quantity of all Milk Solids accepted by us from you in the Growth Incentive Period. Production Incentive (c/l) Baseline Month Butterfat (kgs) Protein (kgs) Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Mar-22 Apr-22 May-22 Jun-22
Exclusive Suppliers only. Growth Incentive rate: (Section 2.6) If you qualify for a top-up payment with respect to the Growth Incentive at the end of each Growth Incentive Period because the amount of the Growth Incentive exceeds the New Milk Incentive paid to you during the Growth Incentive Period, it will be calculated in accordance with, and at the rates identified below. Production Incentive (c/l) Baseline Month Butterfat (kgs) Protein (kgs) Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Mar-22 Apr-22 May-22 Jun-22 The method that applies for calculating the Growth Incentive will depend on the aggregate quantity of all Milk Solids accepted by us from you in the Growth Incentive Period.
Exclusive Suppliers only. Growth Incentive rate: (Section 2.6) If you qualify for a top-up payment with respect to the Growth Incentive at the end of each Growth Incentive Period because the amount of the Growth Incentive exceeds the New Milk Incentive paid to you during the Growth Incentive Period, it will be calculated in accordance with, and at the rates identified below. The method that applies for calculating the Growth Incentive will depend on the aggregate quantity of all Milk Solids accepted by us from you in the Growth Incentive Period. (a) Milk supply under 720,000kg: If, during the Growth Incentive Period, the aggregate quantity of all Milk Solids in Milk accepted by us from you is less than 720,000 kg, the possible Growth Baseline Month Butterfat (kgs) Protein (kgs) Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Mar-22 Apr-22 May-22
Exclusive Suppliers only. Productivity Incentive: (Section 2.4) Productivity Incentive rates (exclusive of GST) We will determine the cents per litre (cpl) rate for the Productivity Incentive applicable during a Financial Year based on your Forecasted Volume for that Financial Year in accordance with the above table. Your Productivity Incentive will then be paid monthly at that rate on the basis of your Forecasted Volume for that month. If your actual monthly volume falls below (or above) your monthly Forecasted Volume for one or more months during a Financial Year, we may apply a revised cpl rate for the remainder of that Financial Year, with your written agreement. The Productivity Incentive that may be payable for the final July and August of the Term shall be calculated at the Productivity Incentive rate applicable for the final June of the Term.
Exclusive Suppliers only. Growth Incentive rate: (Section 2.6) If you qualify for a top‐up payment with respect to the Growth Incentive at the end of the Growth Incentive Period because the amount of the Growth Incentive exceeds the New Milk Incentive paid to you during the Growth Incentive Period, it will be calculated in accordance with, and at the rates identified below. The method that applies for calculating the Growth Incentive will depend on the aggregate quantity of all Milk Solids accepted by us from you in the Growth Incentive Period. (a) Milk supply under 720,000kg: If, during the Growth Incentive Period, the aggregate quantity of all Milk Solids in Milk accepted by us from you is less than 720,000 kg, the possible Growth Incentive will be the aggregate of the amounts calculated in accordance with each of the following: Baseline Month Butterfat (kgs) Protein (kgs) Jul‐21 Aug‐21 Sep‐21 Oct‐21 Nov‐21 Dec‐21 Jan‐22 Feb‐22 Mar‐22 Apr‐22 May‐22 Jun‐22 • the Milk Solids comprising 9.99% of your Growth Incentive Baseline (First Incentive Quantity), multiplied by the First Rate; and • the amount of the increase in Milk Solids in Milk accepted by us from you in the Growth Incentive Period that exceeds the First Incentive Quantity (Second Incentive Quantity) multiplied by the Second Rate.
Exclusive Suppliers only. New Milk Incentive rate: Baseline Month Butterfat (kgs) Protein (kgs) Oct-22 Nov-22 (Section 2.5) The New Milk Incentive rate is $1.06 per kg butterfat and $1.60 per kg protein (approximately $1.30 per kg Milk Solids) on all Milk accepted by us during the relevant month over and above the New Milk Baseline.