Common use of Quantity and Duration Clause in Contracts

Quantity and Duration. The quantity applicable to each Purchase Order, and the duration applicable to each Purchase Order, shall be as specified on the face of the Purchase Order. The quantity specified may be for up to one hundred percent (100%) of Buyer's requirements for the goods. Seller further acknowledges and agrees that Seller is obligated to provide goods to Buyer in the quantity specified in any release issued by Buyer. To the extent that Buyer issues separate releases for specific quantities under a Purchase Order, each release will specify a firm quantity of goods and/or a firm quantity of raw materials/components that Buyer will be responsible for in the event of termination. Releases may include projections or estimates for future quantities, but releases are only binding upon Buyer for, and Buyer will have no obligation or liability beyond, the firm quantity specified in the release. Seller acknowledges and agrees to accept the risk associated with the lead times of the various components if they are beyond the firm release quantities provided by Buyer.

Appears in 2 contracts

Sources: Supplier Agreement, Supplier Terms and Conditions