Holiday Merchandise Sample Clauses

Holiday Merchandise. Returns of 1997 Holiday Gift Sets (as identified by SKU on the attached Schedule 8.3(b)) received between January 1, 1998 and March 31, 1998 from the trade will be accepted by Buyer in accordance with its usual trade practices. The Seller and the Buyer agree that they will share financial responsibility for such returns based on their relative sales of individual SKUs during the period from July 1, 1997 through December 31, 1997 to the customer making the return. By way of examples: (i) if all shipments of a particular SKU to Customer X occurred prior to the Closing, Seller shall bear all financial responsibility for returns of such products and shall either credit that amount to the related outstanding account receivable or reimburse Buyer that amount for any credit or reimbursement made by Buyer in respect of such returns; (ii) if one third of shipments of a particular SKU to Customer Y occurred prior to the Closing and the balance after the Closing, Seller shall bear one-third of the financial responsibility for returns of such products and shall either credit that amount to the related accounts receivable or reimburse Buyer that amount for any credit or reimbursement made by Buyer in respect of such returns; and (iii) if all shipments of a particular SKU to Customer Z occurred after the Closing, Buyer shall bear all financial responsibility for such returns. The Seller shall pay any amounts owing to Buyer hereunder within thirty days of receipt of an Officer's Certificate from Buyer detailing such returns and sales, together with reasonable substantiation thereof.