Binding Portion definition
Examples of Binding Portion in a sentence
CLIENT may order Slots in excess of those specified in the Binding Portion, in increments of [***] Slot, for delivery hereunder in accordance with the applicable Purchase Order subject to LONZA’s total capacity constraints and acceptance of such additional quantities.
LONZA will accept or reject orders for Slots in excess of the number specified in the then current Binding Portion within [***] of receipt of the corresponding Purchase Order, provided that LONZA will use Reasonable Commercial Efforts to accept and fulfill such orders.
The portion of each Forecast beyond the Binding Portion (i.e. the portions covering the [***]) (the “Non-binding Portion”) shall be provided in good faith based on CLIENT’s then- available information, but shall be nonbinding and is provided solely for planning purposes.
If LONZA accepts any such order (or any portion thereof), the number of accepted excess Slots will be added to the Binding Portion.
For clarity, in no event, may the Binding Portion or Response result in a requirement below the then-applicable Minimum Binding Order.
Without limiting LONZA’s obligation to fulfill Purchase Orders in accordance with the Binding Portion, LONZA shall determine and include in the Response the estimated schedule for production and release of Product (the “Production Schedule”) [***].