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Definition of Take-or-pay
1. Adjective. (business) Of a contractual obligation either to take delivery of contracted goods or services or to make a specified payment. ¹
¹ Source: wiktionary.com
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1. Adjective. (business) Of a contractual obligation either to take delivery of contracted goods or services or to make a specified payment. ¹
¹ Source: wiktionary.com