Chargebacks and Rebates Clause Samples
The 'Chargebacks and Rebates' clause defines the terms under which financial adjustments, such as refunds or credits, are made between parties, typically in response to returned goods, pricing errors, or promotional incentives. This clause outlines the specific conditions that trigger a chargeback or rebate, the process for submitting and approving such claims, and the timelines for payment or credit issuance. Its core function is to ensure both parties have a clear understanding of how financial discrepancies are handled, thereby reducing disputes and promoting fair business practices.
Chargebacks and Rebates. Sellers shall be responsible for all chargebacks and rebates which are reported within 60 days following the Closing Date. Buyer shall be responsible for all chargebacks and rebates which are reported after 60 days following the Closing Date.
Chargebacks and Rebates. (a) Nycomed shall be responsible for all chargebacks under those contracts identified as contracts providing chargebacks on Schedule 2.7 through the end of the first full calendar quarter following the Effective Date. Thereafter, BioSante shall be responsible for all such chargebacks for all Products; provided, however, in the event that BioSante enters into any contracts with third parties that provide for chargebacks in connection with the Product containing BioSante’s NDC code, BioSante shall be responsible for all such chargebacks on such Products, even during the foregoing period.
(b) Nycomed shall be responsible for all rebates, credits and adjustments under any managed care or other commercial insurance contracts or government contracts (including Medicare/Medicaid) through the end of the first full calendar quarter following the Effective Date. Thereafter, BioSante shall be responsible for all such rebates, credits and adjustments for all Products.
(c) Commencing after the end of the first full calendar quarter following the Effective Date (e.g., on January 1, 2009), the parties acknowledge that Nycomed will continue to receive invoices for chargebacks, rebates, credits and adjustments described in Sections 2.14(a) and (b) with respect to Products containing Nycomed’s NDC code. Nycomed shall pay such invoices received on or after such date, but BioSante shall reimburse Nycomed for any such amounts. Nycomed shall send a copy of such invoices to BioSante and BioSante shall make such payment to Nycomed within thirty (30) days after receipt of such invoices.
Chargebacks and Rebates. (a) ▇▇▇▇▇▇▇ will be financially responsible for all chargeback claims related to Product sold by a wholesaler to a chargeback contract customer on and after the Closing Date and during the first three (3) months of 1998.
(b) ▇▇▇▇▇▇▇ will be financially responsible for all managed care rebates related to Product dispensed by a pharmacist on and after the Closing Date and during the first six (6) months of 1998.
(c) In general, ▇▇▇▇▇▇ will forward to ▇▇▇▇▇▇▇ for payment any claims received related to Sections 5.12(a) and (b) above for which ▇▇▇▇▇▇▇ is financially responsible. However, for the purpose of administrative convenience or at the specific request of a customer, ▇▇▇▇▇▇ may elect to pay the claim for which ▇▇▇▇▇▇▇ is financially responsible and ▇▇▇▇▇▇▇ will reimburse ▇▇▇▇▇▇ with respect to such claim.
(d) ▇▇▇▇▇▇▇ will be financially responsible for all Medicaid rebates related to Product dispensed by a pharmacist on and after the Closing Date and during the first six (6) months of 1998. HCFA will continue to ▇▇▇▇ ▇▇▇▇▇▇▇ for Medicaid rebates for up to one year after the expiration date on the last Norethin product issued with a ▇▇▇▇▇▇▇ labeler code. For administrative convenience, ▇▇▇▇▇▇▇ will continue to pay all future Medicaid rebates claims it receives. ▇▇▇▇▇▇ will reimburse ▇▇▇▇▇▇▇ for any rebate claims paid by ▇▇▇▇▇▇▇ but which relate to Product dispensed by a pharmacist after the aforesaid first six months of 1998.
(e) ▇▇▇▇▇▇▇ shall continue to make any chargeback or rebate payments with respect to the Product required under agreements, government mandates or otherwise which relate to supply contracts not assigned or assignable under Section 5.5 or which are processed by ▇▇▇▇▇▇▇ due to direct requests of a customer, provided that ▇▇▇▇▇▇ shall reimburse ▇▇▇▇▇▇▇ for all such payments pursuant to Section 5.12(d) above.
Chargebacks and Rebates. M▇▇▇▇▇▇▇▇▇▇ shall be responsible for and shall pay all chargebacks and rebates related to sales of Keflex Products under arrangements of M▇▇▇▇▇▇▇▇▇▇ with Governmental Authorities (“Chargebacks”) that are first submitted on or before the Chargeback Date, and Kef shall be responsible for and pay all Chargebacks that are first submitted after the Chargeback Date.
Chargebacks and Rebates. (a) HMRI will be financially responsible for all chargeback claims related to Product sold by a wholesaler to a chargeback contract customer received by HMRI prior to, on and after the date hereof and for a period of six (6) months thereafter.
(b) HMRI will be financially responsible for all managed care rebates related to Product dispensed by a pharmacist received by HMRI prior to, on and after the date hereof and for a period of six (6) months hereafter;
(c) In general, ▇▇▇▇▇▇▇ will forward to HMRI for payment any claims received related to Section 8.02(a) and (b) above for which HMRI is financially responsible. However, for the purpose of administrative convenience or at the specific request of a customer, ▇▇▇▇▇▇▇ may elect to pay the claim for which HMRI is financially responsible and HMRI will reimburse ▇▇▇▇▇▇▇ with respect to such claim;
(d) HMRI will assign ▇▇▇▇▇▇▇, effective July 1, 1998, any then effective rebate or chargeback contracts covering PRODUCT. It is understood that ▇▇▇▇▇▇▇ is accepting contractual obligations only as they relate to PRODUCT. ▇▇▇▇▇▇▇ will continue to provide PRODUCT and services as required by those contracts until such time as ▇▇▇▇▇▇▇ negotiates new PRODUCT pricing. During the period between the effective date of this Agreement and July 1, 1998, all PRODUCT sales under contract will be credited to ▇▇▇▇▇▇▇. Payment to ▇▇▇▇▇▇▇ for sales during this period will be made by August 15, 1998. After the expiration of the period described in paragraph 8.02(a) and (b), HMRI will forward to ▇▇▇▇▇▇▇ for payment any claims for chargebacks or rebates for which ▇▇▇▇▇▇▇ is financially responsible or HMRI may elect to pay the claim for which ▇▇▇▇▇▇▇ is responsible and ▇▇▇▇▇▇▇ will reimburse HMRI with respect to such claim;
(e) HMRI will be financially responsible for all Medicaid rebates related to Product dispensed by a pharmacist received by HMRI prior to, on and after the date hereof and for a period of six (6) months thereafter. For administrative convenience, HMRI will continue to pay all future Medicaid rebate claims it receives. ▇▇▇▇▇▇▇ will reimburse HMRI for any rebate claims paid by HMRI but which relate to Product dispensed by a pharmacist after the aforesaid six month period.