Common use of Minimum Quantity Requirements Clause in Contracts

Minimum Quantity Requirements. 9.1. Subject to clause 9.2 below, from September 1, 2001 to May 31, 2006, the Company hereby undertakes to purchase from Home Art a minimum quantity of Products, the total value of which shall not be less than US$44,000,000 (excluding VAT, or the equivalent thereof). The purchase schedule for the Term shall be as follows: Minimum Purchase Amount From September 1, 2001 to November 30, 2001 US$ 500,000 From December 1, 2001 to May 31, 2002 US$ 4,000,000 From June 1, 2002 to November 30, 2002 US$ 3,250,000 From December 1, 2002 to May 31, 2003 US$ 3,250,000 From June 1, 2003 to November 30, 2003 US$ 4,000,000 From December 1, 2003 to May 31, 2004 US$ 4,000,000 From December 1, 2004 to May 31, 2005 US$ 5,500,000 From June 1, 2005 to November 30, 2005 US$ 7,000,000 From December 1, 2005 to May 31, 2006 US$ 7,000,000 TOTAL US$ 44,000,000 9.2. The Company acknowledges that the UL approval for certain Products, namely VG-017, VG-017-P and VG - 010 as described in Schedule A hereto, has been requested and should be granted by September 1, 2001. However, in the event that such approval is not granted by September 1, 2001, then the parties shall negotiate the revision of the purchase schedule set forth above in order to reflect the actual date at which the approval is granted. ▇.▇. ▇▇ the event that the Company fails to respect the purchase schedule set forth at clause 9.1 above, as may be amended in accordance with clause 9.2 above, or in any subsequent six-month period of the Term as may be extended, then Home Art shall have the right to either revoke the exclusive right of the Company to distribute the Products (such that the right becomes non-exclusive), or to terminate this Agreement, with immediate effect, by advising the Company by written notice of its wish to do so. ▇.▇. ▇▇ the event that the Company satisfies the minimum quantity requirements contained in the purchase schedule at clause 9.1 above, as may be amended pursuant to clause 9.2 above, then the parties shall negotiate, in good faith, at the beginning of each subsequent year of the Term the six-monthly minimum quantity requirements to be achieved by the Company during each additional year of the Term.

Minimum Quantity Requirements. 9.1. Subject to clause 9.2 below, from September 1, 2001 to May 31, 2006, the Company hereby undertakes to purchase from Home Art a minimum quantity of Products, the total value of which shall not be less than US$US$ 44,000,000 (excluding VAT, or the equivalent thereof). The purchase schedule for the Term shall be as follows: Minimum Purchase Purchaie Amount From September 1, 2001 to November 30, 2001 US$ 500,000 From December 1, 2001 to May 31, 2002 US$ 4,000,000 From June 1, 2002 to November 30, 2002 US$ 3,250,000 From December 1, 2002 to May 31, 2003 US$ 3,250,000 From June 1, 2003 to November 30, 2003 US$ 4,000,000 From December 1, 2003 to May 31, 2004 US$ 4,000,000 ▇▇▇ ▇~ From December 1, 2004 to May 31, 2005 US$ 5,500,000 From June 1, 2005 to November 30, 2005 US$ 7,000,000 2005US$7,000,000 From December 1, 2005 to May 31, 2006 US$ 7,000,000 TOTAL US$ 44,000,000 9.2. The Company acknowledges that the UL approval for certain Products, namely VG-017, VG-017-P and VG - 010 as described in Schedule A hereto, has been requested and should be granted by September 1, 2001. However, in the event that such approval is not granted by September 1, 2001, then the parties shall negotiate the revision of the purchase schedule set forth above in order to reflect the actual date at which the approval is granted. ▇.▇. ▇▇ the event that the Company fails to respect the purchase schedule set forth at clause 9.1 above, as may be amended in accordance with clause 9.2 above, or in any subsequent six-month period of the Term as may be extended, then Home Art shall have the right to either revoke the exclusive right of the Company to distribute the Products (such that the right becomes non-exclusive), or to terminate this Agreement, with immediate effect, by advising the Company by written notice of its wish to do so. ▇.▇. ▇▇ the event that the Company satisfies the minimum quantity requirements contained in the purchase schedule at clause 9.1 above, as may be amended pursuant to clause 9.2 above, then the parties shall negotiate, in good faith, at the beginning of each subsequent year of the Term the six-monthly minimum quantity requirements to be achieved by the Company during each additional year of the Term.