take or pay

noun

A take-or-pay contract; a take-or-pay provision in a contract.

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Meanings

nountake or pay (plural take or pays)

plural take or pays

  1. businessA take-or-pay contract; a take-or-pay provision in a contract.
  2. businessA contractual obligation either to take delivery of contracted goods or services or to make a specified payment.
Cite this entry
APA

take or pay. (n.d.). In WatkinsX Dictionary. Retrieved November 5, 2026, from https://dictionary.watkinsx.com/word/take%20or%20pay

MLA

“take or pay.” WatkinsX Dictionary, https://dictionary.watkinsx.com/word/take%20or%20pay. Accessed November 5, 2026.

Chicago

WatkinsX Dictionary, s.v. “take or pay,” accessed November 5, 2026, https://dictionary.watkinsx.com/word/take%20or%20pay.

Source: take or pay on Wiktionary, CC BY-SA 4.0.