Common use of Failure of Buyer to Purchase Maximum Amount Clause in Contracts

Failure of Buyer to Purchase Maximum Amount. Buyer must accept and pay for all Complying Gypsum Seller is able to deliver up to the Maximum Amount. During any Contract Year, if Buyer fails to accept Complying Gypsum up to the Maximum Amount and Buyer’s failure is not due to Force Majeure, Buyer shall pay Seller liquidated damages equal to the number of tons of Complying Gypsum by which Buyer fails to take the Maximum Amount multiplied by two times the Miami Fort Base Contract Price per ton then in effect during the period for which Buyer fails to purchase the Maximum Amount (the “Maximum Amount LD Rate”). Buyer shall pay any amount due pursuant to this Section 1.3 within forty-five (45) days after the end of the applicable Contract Year. Nothing herein shall affect the validity of Section 1.1.1.

Failure of Buyer to Purchase Maximum Amount. Buyer must accept and pay for all Complying Gypsum Seller is able to deliver up to the Maximum Amount. During any Contract Year, if Buyer fails to accept Complying Gypsum up to the Maximum Amount and Buyer’s failure is not due to Force Majeure, Buyer shall pay Seller liquidated damages equal to the number of tons of Complying Gypsum by which Buyer fails to take the Maximum Amount multiplied by two times the Miami Fort Base Contract Price per ton then in effect during the period for which Buyer fails to purchase the Maximum Amount (the “Maximum Amount LD Rate”). Buyer shall pay any amount due pursuant to this Section 1.3 within forty-five (45) days after the end of the applicable Contract Year. Nothing herein shall affect the validity of Section 1.1.1.