PRODUCT VOLUME definition
PRODUCT VOLUME means the aggregate of (a) the face amounts of all letters of credit issued by Contractor plus (b) the aggregate amount of funds advanced by Contractor by other than issuing its letters of credit, in connection with an Accepted P.O. for which a P.O. Invoice is issued on or before the date on which payment of the Commitment Fee is due; and "MINIMUM VOLUME" means Product Volume which equals or exceeds $6,000,000.
Examples of PRODUCT VOLUME in a sentence
PRODUCT VOLUME EXCLUDED FROM GAINSHARE FEE COGS REDUCTION CALCULATIONS The following volume shall be excluded from the calculation of the defect density for both **************************** and Conexant ********* ******** run at *******: - Pre-production lots - Engineering lots - Lots adversely affected by equipment failures or malfunctions.