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Purchase Requirement Agreement
FOR GOOD CONSIDERATION, the undersigned hereby agrees to enter into this purchase requirement agreement on the following terms:
1. During the period from the _________, day of ___________ 20 __, to the _________, day of ___________ 20 __, the undersigned shall purchase from supplier, goods in the following quantity:
(Describe amount/time period or (--%) of purchases requirements.)
2. The undersigned shall pay for said purchases within the Supplier's credit terms, or such extended terms as shall be expressly approved in writing by Supplier.
3. All purchases hereunder shall further be at such prices and include all promotional or advertising allowances, cash and/or trade discounts and other incentives and inducements, if any, as then customarily available to other accounts purchasing from Supplier on equally proportionate terms.
4. In the event the undersigned shall fail to meet the above described purchases requirements, or otherwise default under this agreement, then in such event, Supplier shall have full rights to demand immediate payment of all sums due Supplier notwithstanding extended terms evidenced by any note, extension agreement or other agreement authorizing extended terms.
Signed this __________ of __________, 20 __.
*** If Required By State Law ***
This Section for Notary:
State of _________
County of ________ [COUNTY]
On [DATE] before me, [NAME OF NOTARY], notary, personally appeared [NAME OF PERSON(S) INVOLVED], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
My commission expires: _____