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Take or Pay |
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Take or Pay A provision, written into a contract, whereby one party has the obligation of either taking delivery of goods or paying a specified amount. Notes: This is used in some contracts as a method to ensure that the transaction occurs. For example, a Banana farmer will enter into a take or pay contract with a fruit retailer so that the retailer will buy all the bananas from the farmer or pay a provision for not buying them.See also: Municipal Bond, Whoops How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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 Take off Take or Pay take out Take the offer Take-and-pay contract take-away acquisition  take-or-paytake-or-pay agreement Take-out take-out merger Take-up fee takedown Takeout takeover  |
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