Rebates or Refunds definition

Rebates or Refunds means any and all refunds, rebates, reimbursements or other similar payments made in connection with or as a result of (a) taxes previously paid with respect to the Hotel or any portion thereof, except for income taxes paid as a result of income earned from the operation of the Hotel, (b) fees paid to any governmental agency with jurisdiction over the Hotel or with respect to the development or operation of the Hotel, or (c) any other amounts paid to third parties in connection with the ownership, maintenance and/or operation of the Hotel, including, but not limited to, any and all deposits paid to utility companies, governmental entities and any other third parties serving the Hotel.
Sample 1Sample 2
Rebates or Refunds means all refunds, rebates, reimbursements or other similar payments made to the Seller after the Closing Date in connection with or as a result of: (a) taxes previously paid by Seller with respect to the Property or any portion thereof, except for income taxes paid by seller as a result of income earned from the operation of the Property, (b) fees paid by Seller to any governmental agency with jurisdiction over the Property or any portion thereof or with respect to the development or operation of the Property or any portion thereof; (c) any other amounts paid by or on behalf of the Seller to third parties in connection with the ownership, maintenance, and/or operation of the Property, including, but not limited to, any deposits paid by or on behalf of Seller to utility companies, governmental entities and any other third parties servicing the Property; or (d) any other reason related to the Property. Such Rebates or Refunds shall remain Seller’s property after the Closing Date.
Sample 1
Rebates or Refunds means any and all refunds, rebates, reimbursements or other similar payments made to Seller relating directly to the Property and not Seller itself after the Closing Date in connection with or as a result of (a) taxes previously paid by Seller with respect to the Property or any portion thereof, except for income taxes paid by Seller as a result of income earned from the operation of the Property, (b) fees paid by Seller to any governmental agency with jurisdiction over the Property or any portion thereof or with respect to the development or operation of the Property or any portion thereof, or (c) any other amounts paid by or on behalf of Seller to third parties in connection with the ownership, maintenance and/or operation of the Property, including, but not limited to, any and all deposits paid by or on behalf of Seller to utility companies, governmental entities and any other third parties serving the Property.
Sample 1

Examples of Rebates or Refunds in a sentence

  • After Closing, Seller shall deliver to Buyer any applicable Rebates or Refunds pertaining to the Property as and when received by Seller.

Related to Rebates or Refunds

  • Overpayments as used in this Section include payments (i) made by the System Agency that exceed the maximum allowable rates; (ii) that are not allowed under applicable laws, rules, or regulations; or (iii) that are otherwise inconsistent with this Contract, including any unapproved expenditures. Xxxxxxx understands and agrees that it will be liable to the System Agency for any costs disallowed pursuant to financial and compliance audit(s) of funds received under this Contract. Xxxxxxx further understands and agrees that reimbursement of such disallowed costs shall be paid by Grantee from funds which were not provided or otherwise made available to Grantee under this Contract.

  • Rebates means rebates, price reductions and administrative fees and related adjustments charged by or payments to state Medicaid and other federal, state and local governmental programs and their participants, and by health plans, insurance companies, Medicare Part D prescription drug plans, pharmacy benefits managers, mail service pharmacies, long term care providers, specialty pharmacies and other health care providers based upon the utilization and sales of the Product, and service, administrative and inventory management fees due to wholesalers, distributors and group purchasing organizations based on sales of the Product (in each case, other than chargeback claims).

  • Periodic Payments means all installments or similar recurring payments that Borrower may now or hereafter become obligated to pay to Bank pursuant to the terms and provisions of any instrument, or agreement now or hereafter in existence between Borrower and Bank.

  • Overpayment means payment in excess of the required fee. Overpayment of less than $10 received by the board shall not be refunded.

  • Periodic Payment means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument.

  • Condemnation Proceeds All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.

  • Rebate shall have the same meaning as ascribed thereto in Article 10.3.4 of this Agreement;

  • Third Party Payments means the payment made through instruments issued from an account other than that of the beneficiary investor mentioned in the application form. However, in case of payments from a joint bank account, the first named applicant/investor has to be one of the joint holders of the bank account from which payment is made.

  • Payments has the meaning set forth in Section 8.11.

  • Prepaid Expenses has the meaning set forth in Section 1.2(f).

  • Improper Payment means: (a) any payment, offer, gift or promise to pay or authorization of the payment or transfer of other things of value, including without limitation any portion of the compensation, fees or reimbursements received hereunder or the provision of any service, gift or entertainment, directly or indirectly to (i) a Government Official; (ii) any director, officer, employee or commercial partner of a Party or its Affiliates; or, (iii) any other person at the suggestion, request or direction or for the benefit of any of the above-described persons and entities, for purposes of obtaining or influencing official actions or decisions or securing any improper advantage in order to obtain, retain or direct business; (b) payments made and expenses incurred in connection with performance of obligations under this Agreement that are not made and recorded with sufficient accuracy, detail, and control to meet the standards in applicable Anti-Corruption Laws; or, (c) any other transaction in violation of applicable Anti- Corruption Laws.

  • Recoveries means, with respect to any Receivable that becomes a Liquidated Receivable, monies collected in respect thereof, from whatever source, during any Collection Period following the Collection Period in which such Receivable became a Liquidated Receivable, net of the sum of any amounts expended by the Servicer for the account of the Obligor and any amounts required by law to be remitted to the Obligor.

  • Uncollected Interest With respect to any Distribution Date for any Mortgage Loan on which a Payoff was made by a Mortgagor during the related Payoff Period, except for Payoffs received during the period from the first through the 14th day of the month of such Distribution Date, an amount equal to one month’s interest at the applicable Pass-Through Rate on such Mortgage Loan less the amount of interest actually paid by the Mortgagor with respect to such Payoff.

  • Direct Debit means a payment service for debiting a payer’s payment account, where a payment transaction is initiated by the payee on the basis of the payer’s consent given to the payee, to the payee’s payment service provider or to the payer’s own payment service provider;

  • Deficiency Payment has the meaning set forth in Section 9(a).

  • Salvage means the controlled removal of materials from a covered project, for the purpose of reuse or storage for later reuse;

  • Payment Ahead means, with respect to a Precomputed Receivable and a Collection Period, any Excess Payment (not representing, when added to any Deferred Prepayment with respect to such Precomputed Receivable, a prepayment in full of such Precomputed Receivable) which the Servicer, in accordance with its customary servicing practices, will apply towards the payment of Scheduled Payments due in one or more future Collection Periods.

  • Amounts receivable by the Trust in a foreign currency shall be reported to the Evaluator who shall convert the same to U.S. dollars based on current exchange rates, in the same manner as provided in Section 4.01(b) or 4.01(c), as applicable, for the conversion of the valuation of foreign Equity Securities, and the Evaluator shall report such conversion with each Evaluation made pursuant to Section 4.01."

  • Proportionate Liability means the proportion of any judgment that, had the Settling Defendants not settled, the Ontario Court or Quebec Court, as applicable, would have apportioned to the Releasees.

  • Credits means the Federal and State Housing Tax Credit program.

  • Third Party Payment means payment through an instrument issued from a bank account other than that of the beneficiary investor. In case of payments from a joint bank account, the first named investor/holder of the mutual fund folio has to be one of the joint holders of the bank account from which payment is made.