Minimum Annual Spend Clause Samples
Minimum Annual Spend. King agrees to reimburse PTI for its 2010 minimum annual spend (i.e., $750,000) under the DLA, irrespective of the status of approved budgets under the Collaboration Agreement. Please sign below to acknowledge your acceptance and agreement to this letter agreement. Sincerely, /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ President and Chief Executive Officer PAIN THERAPEUTICS, INC. /s/ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ President & Chief Executive Officer ***Confidential treatment requested pursuant to a request for confidential treatment filed with the Securities and Exchange Commission. Omitted portions have been filed separately with the Commission.
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Minimum Annual Spend. For each School Year during the term, Customer shall maintain a minimum purchase volume of $100,000 measured in actual amounts paid by Customer.
Minimum Annual Spend. 8.1. For the purposes of this Clause a “Contract Year” shall mean any grouped Agreed Rail Industry Periods identified as periods ‘1’ through to ‘13’ in Appendix F to Schedule 2 – Charges – Agreed Railway Industry Periods.
8.2. Where a Minimum Annual Spend amount is expressly specified as being applicable as detailed in Appendix C to Schedule 2 for one or more Contract Lots that have been awarded to the Supplier (each a “Minimum Annual Spend”), then in respect of each relevant Contract Year (or part Contract Year where applicable):
8.2.1. the Supplier shall reduce their total hourly rate by the relevant Commitment Rebate as detailed within Appendix B to Schedule 2.
8.2.2. the Supplier commits to the supply of Contingent Labour Workers in respect of COOM Electronic Purchase Orders issued by Network Rail for that Contract Lot up to the value of the Minimum Annual Spend; and
8.2.3. Network Rail commits to issue COOM Electronic Purchase Orders up to the value of the aggregate of all Minimum Annual Spend amounts across all Contract Lots that have been awarded to the Supplier including both those that have a Minimum Annual Spend allocated and those that do not have a Minimum Annual Spend allocated to them.
8.3. Network Rail may, in its sole discretion, vary any Minimum Annual Spend amount that applies for a Contract Year (or part Contract Year) for a particular Contract Lot on notice to the Supplier, provided that any reduction to a Minimum Annual Spend amount for a Contract Year for that Contract Lot shall not represent more than a 15% reduction to the Minimum Annual Spend amount that is detailed within or amended in the preceding Contract Year for that Contract Lot (unless a varied percentage is agreed by both Network Rail and the Supplier) and except in the case of pre agreed Minimum Annual Spend amounts as detailed within Appendix C to Schedule 2 – Charges which may exceed 15% if unchanged by further variance in commitment.
8.4. Where a period is only part of a Contract Year, the Minimum Annual Spend shall be reduced pro rata as calculated below:
8.5. To the extent that the Supplier fails to supply Contingent Labour Workers in accordance with issued COOM Electronic Purchase Orders in respect of a Contract Lot, then for the purposes of Network Rail’s spend commitment pursuant to paragraph 8.2.2 and for the operation of paragraph 8.6, the relevant Minimum Annual Spend amount for that Contract Lot shall be adjusted by deducting the value of all unfulfilled COOM ...
Minimum Annual Spend. All obligations of Pfizer with respect to the Minimum Spend whether under the DLA or CA or LA, shall be considered to be fully satisfied and discharged and Pfizer shall have no further obligation or liability in respect thereof Pfizer shall not seek repayment of any amounts paid to PTI, and PTI shall not seek any further payments from Pfizer, with respect to the Minimum Spend under the DLA for the term of the CA.