Recall Costs definition

Recall Costs means the following reasonable and necessary expenses incurred as a result of an In- sured Event:

Recall Costs shall have the meaning set forth in Section 5.7.2.

Recall Costs means all out-of-pocket expenses directly relating to or arising out of compliance with any order of a Regulatory Authority for a Recall, Withdrawal or Field Correction and out-of-pocket expenses incurred by either Party relative to notification, shipping, disposal and return of the Recalled or Withdrawn product and the notification and correction of any product subject to a Field Correction.

Examples of Recall Costs in a sentence

• If any Product is recalled as a result of the negligent or intentionally wrongful acts or omissions of the Company or its representatives, or is not due to the fault of either party, then the Company shall bear all Recall Costs including any outstanding inventory costs such as raw goods, work in progress and finished goods that cannot not be used by Polyzen in future manufacturing of the Products that may be related to such Recall.

• To the extent that the reason for any recall of the Medical Device is in part the responsibility of the Company or its agents and in part the responsibility of Polyzen, then the Recall Costs shall be allocated in an equitable manner between the parties.

• To the extent the Recall arises from any other reasons, the Recall Costs shall be borne by IPC.

• Warranty, Product Liability and Recall Costs In certain circumstances, we are at risk for warranty costs, including product liability and recall costs.

• For clarity, Recall Costs do not include any lost or refunded sales.

More Definitions of Recall Costs

Recall Costs means the reasonable costs incurred by the Insured for the recall, withdrawal, removal, recovery of possession or control, or disposal of such affected Insured Product(s) pursuant to an Insured Event. These costs are limited to the following:

Recall Costs has the meaning set out in Clause 10.21.

Recall Costs has the meaning set forth in Section 7.8(b).

Recall Costs means any reasonable and necessary costs incurred by the Insured to inspect, withdraw, destroy or replace such affected Insured Product(s). Recall Costs also include but are not limited to:

Recall Costs means under Section IA, OPUS Sentry:- Infringement Liability, costs reasonably and properly incurred by the Insured in the inspection, public notifications, transportation, additional manpower required in the collection, withdrawal and destruction of recalled products of the Insured.

Recall Costs means all costs and expenses relating to or arising out of any Recall, Withdrawal or Field Correction including any out-of-pocket expenses incurred by either Party relative to notification, shipping, disposal and return of the Recalled or Withdrawn product and the notification and correction of any product subject to a Field Correction.

Recall Costs means any costs or expenses, whether in cash or non-cash, related to the recall of Fresh Frozen or related products as announced on April 23, 2015, including co-packing arrangement costs, excess distribution or storage costs, impairment charges, legal and regulatory expenses, lost sales or higher expense impact on EBITDA, fines, slotting expenses, buy out of competitor inventory and any other cost or expense that is reasonably attributable to such recall.