0 used to describe an agreement to buy something, especially gas and oil, in which the buyer must pay a charge even if they later decide they do not want it:
We recognised from an early stage that the issue of market opening cannot be detached from the difficult issue of so-called "take-or-pay" contracts.
I now turn to two other major issues: market opening and the take-or-pay contracts.
The committee was strongly of the view that if the oil industry did not need take-or-pay contracts, why did the gas industry need them?
Equally, there is the problem of take-or-pay contracts.
We are backing the effort of the regulator to prevent regional electricity companies from passing on excessive costs under early take-or-pay gas contracts to consumers.
It is, in effect, one of the biggest take-or-pay contracts in history.
The second significant issue relates to take-or-pay contracts.
The draft directive deals with the take-or-pay problem by offering derogations from the market opening provisions for companies which encounter serious difficulties as a result of their take-or-pay commitments.
