Examples of Authorized Product in a sentence
Xxxxxxxx agrees to store without charge to Bank the Authorized Products on its premises until such Authorized Products are redeemed by the original buyer or delivered to any third party purchaser (including Merchant) of such Authorized Product, as directed by Bank.
The operation of the Authorized Products by Merchant for any purpose during the period of storage (except for the purpose of routine testing before a buyer purchases such Authorized Product) will be deemed to be a Default and will entitle Bank to the remedies under this Agreement and Applicable Law.
In connection with any repossessed product referred to in clauses (i), (ii) or (iii) above, (A) Merchant will use its commercially reasonable efforts to re-market such products; provided, that Merchant may submit a sealed bid to Bank for any Authorized Product in an “AS IS” condition, (B) Bank will have the right to accept or decline any offer or bid, and (C) for any such product sold by Merchant to a third party, Bank will pay Merchant five percent (5%) of the resale price of such product.