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Provision Of Requirements Agreement
PROVISION OF REQUIREMENTS AGREEMENT - Can Not Supply Minimum
In the event seller finds that seller will not be able to complete the contract within the agreed limit, it shall be sellers duty at once to so advise buyer by telephone, FAX or telegraph. On receipt of such notice, it shall be the duty of buyer at once to make an election among the following choices:
1. Agree with seller on an extension of the contract;
2. After having given [Amount of hours] hours notice to seller to complete the contract, buyer will buy-in the defaulted portion of the contract within the next business day; or
3. After having given [Amount of hours] hours notice to seller to complete the contract, buyer will cancel the defaulted portion of the contract within the next business day.
Buyer shall communicate buyers election to seller immediately on its determination by telephone, FAX or telephone.