Orders and Shipment. On the Effective Date, Distributor shall place a purchase order for between one million US dollars ($1,000,000) and one and a half million US dollars ($1,500,000) of Product, which the parties intend shall satisfy Distributor’s requirements for Product in 2013 and January 2014. On the Effective Date, Distributor shall pay Company fifty-one thousand US dollars ($51,000) to purchase the API for the Product for such purchase order. Distributor shall pay the balance of such purchase order upon receipt of Regulatory Approval for the Product in Nigeria and Companyshall ship the Product to Distributor upon receipt of such payment. Thereafter, Distributor shall submit purchase orders to Company from time to time, provided that each month Distributor places orders for at least the amount of the Firm Order for such month. Each purchase order shall specify the number of Cartons required per Country and the requested delivery date, which date shall be no more than ninety (90) days and no less than thirty (30) days after the date of the purchase order. Distributor shall pay fifty (50) percent of the price for each delivery of Products within five (5) days of the date of Company’s invoice issued pursuant to Section 5.4 and shall effect payment of the balance, after deducting an amount equal to the fees payable to Distributor with respect to such Products under Section 3.15, not later than ten (10) days prior to the requested delivery date thereof as specified in the applicable purchase order. In any month, Distributor may place orders for more Product than is set out in the Firm Order for such month, provided that Company may reject any purchase orders in excess of ten (10) percent or more of the Firm Order for the applicable month. Products shall not be shipped prior to receipt of payment by Company. If full payment is not received at least ten (10) days prior to the requested delivery date thereof as specified in each purchase order, such purchase order shall be considered cancelled. Products shall be delivered CIP (Incoterms 2010) to a location directed by the Distributor. Title to and risk of loss of Product supplied hereunder shall pass to Distributor upon delivery.
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Orders and Shipment. On the Effective Date, Distributor shall place a purchase order for between one million [CONFIDENTIAL] US dollars ($1,000,000[CONFIDENTIAL]) and one and a half million [CONFIDENTIAL] US dollars ($1,500,000[CONFIDENTIAL]) of Product, which the parties intend shall satisfy Distributor’s requirements for Product in 2013 and January 2014. On the Effective Date, Distributor shall pay Company fifty-one thousand US dollars ($51,000) [CONFIDENTIAL] to purchase the API for the Product for such purchase order. Distributor shall pay the balance of such purchase order upon receipt of Regulatory Approval for the Product in Nigeria and Companyshall ship the Product to Distributor upon receipt of such payment. Thereafter, Distributor shall submit purchase orders to Company from time to time, provided that each month Distributor places orders for at least the amount of the Firm Order for such month. Each purchase order shall specify the number of Cartons required per Country and the requested delivery date, which date shall be no more than ninety (90) days and no less than thirty (30) days after the date of the purchase order. Distributor shall pay fifty (50) percent of the price for each delivery of Products within five (5) days of the date of Company’s invoice issued pursuant to Section 5.4 and shall effect payment of the balance, after deducting an amount equal to the fees payable to Distributor with respect to such Products under Section 3.15, not later than ten (10) days prior to the requested delivery date thereof as specified in the applicable purchase order. In any month, Distributor may place orders for more Product than is set out in the Firm Order for such month, provided that Company may reject any purchase orders in excess of ten (10) percent or more of the Firm Order for the applicable month. Products shall not be shipped prior to receipt of payment by Company. If full payment is not received at least ten (10) days prior to the requested delivery date thereof as specified in each purchase order, such purchase order shall be considered cancelled. Products shall be delivered CIP (Incoterms 2010) to a location directed by the Distributor. Title to and risk of loss of Product supplied hereunder shall pass to Distributor upon delivery.
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