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.

Investopedia Says:
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.

An arrangement whereby a customer agrees to buy a certain quantity over a period of time, often at a predetermined price. If the customer does not buy as contracted, he must pay the seller. This protects the buyer against price rises and the seller against price drops.