Initial Firm Order definition
Examples of Initial Firm Order in a sentence
The Initial Firm Order shall be confirmed by delivery by Buyer to Seller of a purchase order (each a “Purchase Order”, collectively, “Purchase Orders”).
Buyer shall submit to Seller on the Effective Date a purchase order for the first month of the Initial Firm Order, and Buyer shall submit a second Purchase Order for the remainder of the period covered by Initial Firm Order on or before the fifteenth (15th) Business Day after the Effective Date.
The Initial Firm Order shall not specify a delivery date that is not [***] from the date of this Agreement.
In addition to its submission of a Rolling Forecast, Myovant shall submit to Takeda, a purchase order for Drug Substance (a “Purchase Order”) in the quantity set forth in the Initial Firm Order and any subsequent Firm Order.
Each Purchase Order shall specify (i) the quantity of Drug Substance and (ii) the desired delivery date and location, on the basis of [***], in each case in accordance with the Initial Firm Order or such Firm Order (as applicable), no later than [***] before the desired delivery date of Drug Substance.
AZ and ABBI agree that, as part of the Initial Firm Order, AZ shall supply to ABBI, not less than a [***], based on the [***] and that, notwithstanding the preceding sentence, such amount of [***] will be delivered on the delivery date specified in the Initial Firm Order or as soon thereafter as is commercially reasonable.
For clarity, Takeda shall accept all Purchase Orders that correspond to the Initial Firm Order.
If this Agreement is terminated by either Party pursuant to Section 18.2.3 (Termination for Convenience) hereof, then: (a) each Party shall pay the other Party any and all amounts due and owing hereunder existing as of the effective date of such termination; and (b) all Purchase Orders or Firm Orders, including the Initial Firm Order, that duly exist hereunder as of the effective date of such termination shall remain in effect and be binding on both Parties until the full performance thereof.
In the event that IMED fails to deliver the Initial Firm Order to DEBIOTECH within the Initial Firm Order Period without any valid reason, Product Availability for such Product shall deem to have occurred six (6) months following the expiration of the Initial Firm Order Period.
IMED shall have two (2) weeks from the receipt of such notification (the "Initial Firm Order Period") to deliver to DEBIOTECH a Firm Order (the "Initial Firm Order") for such Product.