Common use of Nonreturnable Clause in Contracts

Nonreturnable. All parts and accessories not coded as returnable in the Master Price List are “nonreturnable”. The values for the nonreturnable parts and accessories, non-Manufacturer, “jobber” or “NPN” parts and accessories and nuts and bolts will be as mutually agreed by the Parties. Notwithstanding anything to the contrary herein, NewCo shall accept from Contributor, and Contributor shall contribute to NewCo, nonreturnable Manufacturer and non-Manufacturer parts and accessories at Contributor’s documented actual costs (not to exceed $300,000.00 for nonreturnable Manufacturer parts and accessories and $30,000.00 for nonreturnable non-Manufacturer parts and accessories, in each case pursuant to all of the ACAs (defined below)). Notwithstanding anything herein to the contrary, NewCo shall accept from Contributor, and Contributor shall contribute to NewCo, all nonreturnable Manufacturer and non-Manufacturer parts and accessories at Contributor’s documented actual costs all pre-sold Manufacturer and non-Manufacturer nonreturnable parts and accessories.

Appears in 4 contracts

Samples: Dealership Asset Contribution Agreement (LMP Automotive Holdings, Inc.), Dealership Asset Contribution Agreement (LMP Automotive Holdings, Inc.), Dealership Asset Contribution Agreement (LMP Automotive Holdings, Inc.)

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Nonreturnable. All parts and accessories not coded as returnable in the Master Price List are “nonreturnable”. The values for the nonreturnable parts and accessories, non-Manufacturer, “jobber” or “NPN” parts and accessories and nuts and bolts will be as mutually agreed by the Parties. Notwithstanding anything to the contrary herein, NewCo NewCos shall accept from their corresponding Contributor, and Contributor Contributors shall contribute to NewCotheir corresponding NewCos, nonreturnable Manufacturer and non-Manufacturer parts and accessories at Contributor’s Contributors’ documented actual costs (not to exceed $300,000.00 for nonreturnable Manufacturer parts and accessories and $30,000.00 for nonreturnable non-Manufacturer parts and accessories, in each case pursuant to all of the ACAs (defined below)). Notwithstanding anything herein to the contrary, NewCo NewCos shall accept from their corresponding Contributor, and Contributor Contributors shall contribute to NewCotheir corresponding NewCos, all nonreturnable Manufacturer and non-Manufacturer parts and accessories at Contributor’s Contributors’ documented actual costs all pre-sold Manufacturer and non-Manufacturer nonreturnable parts and accessories.

Appears in 2 contracts

Samples: Dealership Asset Contribution Agreement (LMP Automotive Holdings, Inc.), Dealership Asset Contribution Agreement (LMP Automotive Holdings, Inc.)

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