Common use of Subsequent Term Clause in Contracts

Subsequent Term. The Agreement will provide for a [***] rolling forecast model, initially including the quantities ordered during the Initial Term as well as any other Product orders forecasted within the agreed upon period of the model (“Rolling Forecast”). The Subsequent Term period is a [***] period commencing in [***] with the right to renew for an additional term(s), with commitments in the Rolling Forecast being dependent upon agreed pricing and volume. During the Subsequent Term, LANXESS will use commercially reasonable sourcing efforts to control/minimize the cost of key raw materials in the preparation for each production campaign quotation associated with this MOU or the Agreement. The Agreement will incorporate the requirements for MFA set forth in Section 4 of this MOU.

Subsequent Term. The Agreement will provide for a [***] rolling forecast model, initially including the quantities ordered during the Initial Term as well as any other Product orders forecasted within the agreed upon period of the model (“Rolling Forecast”). The Subsequent Term period is a [***] 5 year period commencing in [***] with the right to renew for an additional term(s), with commitments in the Rolling Forecast being dependent upon agreed pricing and volume. During the Subsequent Term, LANXESS will use commercially reasonable sourcing efforts to control/minimize the cost of key raw materials in the preparation for each production campaign quotation associated with this MOU or the Agreement. The Agreement will incorporate the requirements for MFA set forth in Section 4 of this MOU.