Common use of Second Contract Year Clause in Contracts

Second Contract Year. Buyer shall provide to Seller on or before November 1 of the calendar year preceding the year in which the second Contract Year begins, a preliminary monthly shipping schedule for the second Contract Year based on Buyer's then current projections for such period. The sum of the quantities reflected for all 12 months in such preliminary monthly shipping schedule for the second Contract Year shall not exceed the Annual Shipping Schedule Quantity for such Contract Year. At least 30 days prior to the beginning of each consecutive three month period of the second Contract Year, Buyer shall furnish to Seller in writing the final declaration of its quantity requirements for each of such three calendar months. In providing such final declaration, Buyer shall limit the quantity variation for each such month so that it does not exceed plus 25% or minus 50% of the quantity which is set out with respect to the same month in the shipping schedule which Buyer furnishes to Seller on or before November 1 pursuant to the first paragraph of this Section 6.3, and Buyer shall limit the quantity variation for each three month period so that it does not exceed plus 10% or minus 25% of the quantity which is set out with respect to the same three- month period in the shipping schedule which Buyer furnishes to Seller on or before November 1 pursuant to the first paragraph of this Section 6.3. The month identified in such final written declaration for the shipment of particular cargoes shall be considered to be the Month of Scheduled Shipment with respect to such cargoes. In addition, the quantity recited in each such final declaration shall constitute the quantity of Concentrates which Buyer is obligated to purchase and which Seller is obligated to deliver during such three month period.