Recall Costs definition
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expenses incurred by either Party relative to notification, shipping, disposal and return of the Recalled or Withdrawn product and the notification and correction of any product subject to a Field Correction.
Recall Costs has the meaning set out in Clause 10.21.
Examples of Recall Costs in a sentence
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.
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 the Recall arises from any other reasons, the Recall Costs shall be borne by IPC.
However, the deduction against total invoiced sales for returns, other than Recall Costs as defined in Article VII, Section 2 hereof, and bad debts shall not be more than 5% in total.
If the recall rises from ELAN's acts or omissions in the manufacturing or delivery of the PRODUCT, the Recall Costs shall be borne by ELAN.
More Definitions of Recall Costs
Recall Costs has the meaning set forth in Section 7.8(b).
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.
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 the reasonable and necessary expense of examination and inspection in- cluding but not limited to the expenses of engineering, mechanical or chemical analysis, or other such efforts to identify the causes of a product deficiency that may give rise to an Insured Event.
Recall Costs means the following reasonable and necessary expenses incurred as a result of an Insured Event:
a. Media and general advertising expenses of correspondence, printed publications, radio, television, telephone, cellular, internet or other media announcement to inform customers and the distribution channels about an Insured Event;
b. Expenses incurred to locate, trace and sort the Insured Product(s);
c. Examination and inspection expenses after an Insured Event including engineering, mechanical or chemical analysis expenses or other such efforts to identify the causes or potential effects of the Insured Event;
d. Transportation expenses incurred to return the Insured Product(s) to the location of the Named Insured or another location designated by the Named Insured;
e. Temporary expenses to rent storage for the Insured Product(s);
f. Disposal or destruction expenses of Insured Product(s);
g. Reworking, repacking, relabeling and redistribution expenses of Insured Product(s);
h. Retail slotting fees and cancellation fees for any advertising or promotion programs, where legally permitted, which were scheduled but were unable to be executed;
i. Out-of-pocket expenses of employees incurred solely and directly from an Insured Event, including transportation;
j. Workforce expenses including:
(1) Additional remuneration expenses payable to permanent employees of the Named Insured for overtime and expense to hire additional temporary employees,
(2) The direct expenses required to maintain the salaries of the workforce to the extent required by statute, union or other work contract for a maximum period of six months;
(3) The direct expenses to maintain a minimum work force at a minimal percentage of salary in order to be able to open the location without delay as soon as possible after a shutdown imposed by a governmental authority; and
(4) The increased expenses of subcontracting some or all of the manufacturing process to a contract manufacturer or the increased expenses to run additional lines at an owned facility, for a period of time necessary to restore the Named Insured’s facilities to a state in which Insured Product(s) can be manufactured or handled safely.
k. Loss mitigation expenses incurred with the prior written consent of the Insurer to directly reduce or minimize the overall loss incurred by the Named Insured as the result of an Insured Event.
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:
i. The cost of newspaper, magazine or any printed advertising (whether electronic or otherwise), radio and television announcements or commercials, as well as the cost of correspondence regarding or concerning the recall.
ii. The cost of shipping the Insured Product from any purchaser, distributor or user to the place or places the
iii. The cost to rent additional warehouse or storage space.
iv. The cost of hiring additional person(s), other than regular employees of the Insured, to assist with the recall of the Insured Product(s).
v. Overtime paid to regular employees, other than salaried employees, of the Insured for work devoted exclusively to the recall of the Insured Product(s)
vi. Expenses (including transportation and accommodation cost(s) incurred by employees directly attributable to the recall of the Insured Product(s).
vii. The cost of disposal of the Insured Product(s), to the extent that specific methods of disposal other than those usually employed for trash discarding or disposal, are required to avoid Bodily Injury or Property Damage as a result of such disposal.
viii. Expenses incurred to properly dispose of the unused packaging and point of purchasing marketing material of recalled Insured Product(s) if such packaging or material cannot be reused.
ix. Retailers’ and other third party Recall Costs incurred during the recall of the Insured Product(s).
Recall Costs has the same meaning as set out in Clause 19.6.1