Close-Out Costs definition
Close-Out Costs means the sum of the Cover Costs calculated for each Month (or part thereof) remaining in the term of a terminated Transaction which are incurred by a non-defaulting Party and then aggregated and set-off against amounts owed by the non-defaulting Party to the defaulting Party to determine the net of the future Cover Costs.
Close-Out Costs mean all of Seller’s other reasonable costs resulting from termination of operations relating to the order, which may include, without limitation: (A) Seller’s costs resulting from decommissioning production line equipment that had been allocated to Buyer’s project, (B) Seller’s costs resulting from idled workers’ wages, (C) Seller’s reasonable fees on incurred costs, and (D) 25% of the sales price of the canceled portion of the order. Seller will provide Buyer with itemized Close-Out Costs for negotiation purposes and when invoicing Buyer for the final, determined amounts. Notwithstanding ongoing negotiations regarding Close-Out Costs, if any, Buyer shall pay all other applicable Cancellation Fees within 30 days of receiving written notice of such fees, and shall pay all other fees relating to Close-Out Costs, if any, within 30 days of executing a mutual written agreement or receiving a written dispute resolution determination regarding such amount. Upon ▇▇▇▇▇’s written request delivered to Seller within 30 days following Buyer’s full payment of all applicable Cancellation Fees for Custom Goods, Seller and Buyer will cooperate in good faith to arrange for delivery of all corresponding Finished Custom Goods, work in progress (WIP) and Materials, and such delivery shall be at Buyer’s sole expense. In the event that ▇▇▇▇▇ fails to request, arrange or pay for such delivery, as described in this Section, all such Finished Custom Goods, WIP and Materials shall be deemed unclaimed and abandoned and will become the property of Seller at no cost to Seller with no liability or obligation to reimburse any fees, costs, or payment to Buyer.
Close-Out Costs means “Close-Out Costs” as defined in the Contract.
More Definitions of Close-Out Costs
Close-Out Costs means:
15.5.1 with respect to Development Work: the Price and Costs as defined in Exhibit 5, under the heading “Development Work”. and
15.5.2 with respect to Manufacturing Work, the Price and Costs as defined in Exhibit 5 for each cancelled Batch, under the heading “Manufacturing Work”.
Close-Out Costs means all of the Seller's other reasonable direct costs resulting from termination of operations relating to the order, which may include, without limitation: (i) Seller's costs resulting from decommissioning production line equipment that had been allocated to Buyer's project, (ii) Seller's costs resulting from idled workers' wages, (iii) Seller's reasonable fees on incurred costs, and (iv) twenty-three percent (23%) of the sales price of the canceled portion of the order. Seller will provide Buyer with itemized Close-Out Costs for negotiation purposes and when invoicing Buyer for the final mutually agreed amounts.
Close-Out Costs shall have the meaning set forth in Section 15.5;
Close-Out Costs means “Close-Out Costs” as defined in the Contract. “Closing Date” means March 26, 2020.