Refund Credit definition

Refund Credit means any of the (a) Change Order Credit and (b) Removed Project Credit.
View Source
Refund Credit. The insured will receive a refund credit of the finance charge if the account is voluntarily prepaid in full prior to the last installment due date. The refund shall be computed according to the Rule of 78s. However, for Texas insureds if prepayment in full occurs before the first installment due date, Afco may only keep a finance charge computed according to the following formula: Number of days from inception of the policy to prepayment in full multiplied by one month's interest computed according to the Rule of 78s divided by 30. If the refund credit is less than $1 no refund shall be made. Louisiana insureds are subject to a nonrefundable charge of $10.
View Source

Examples of Refund Credit in a sentence

  • If on the Cash Risk Pool Reconciliation Date the amount of the Cash In Hand received by the Company for the calendar year ended December 31, 2005 is less than one hundred fifty thousand dollars ($150,000), Seller shall pay Purchaser five hundred thousand dollars ($500,000), constituting the Deficit Cash Risk Pool Refund Credit, within ten (10) calendar days of such Cash Risk Pool Reconciliation Date.

  • The amount or economic benefit of any Refund, Credit, or Offset of the Company for any Straddle Period shall be equitably apportioned between Seller and Buyer in accordance with the principles set forth in Section 7.2(b).

  • The percentage to be refunded or credited is as follows: Duration of Closure Refund Credit % of Season Lost 15 days 7.5% 10% 8.65% 1 month 15% 20% 17.3% For periods of extended closure, the refund or credit based on the table above may result in a selection between multiple applicable options available to the Member.

  • Sears may, at its option, require Seller to replace any nonconforming Merchandise or ▇▇▇▇▇ ▇▇▇▇▇ a full refund or credit (collectively, "Refund Credit").

  • When a guest elects to cancel their Expedition, in order to be eligible for a Future Travel Refund Credit, the guest’s booking file must be in good standing where all payments are up to date as per payment scheduled agreed to at the time of booking.

  • If you were issued a Future Travel Refund Credit (FTRC), it is important to note the Cancellation Terms and Conditions for use and booking with an FTRC differs from the above and can be found within the “Future Travel Refund Credit (FTRC) Policy outlined in section 3.1.

  • If your Expedition is suspended/cancelled/postponed due to the impact of COVID-19 and you are/were issued a Future Travel Refund Credit (FTRC) to rebook onto a new Expedition, or if you elected to cancel your Expedition and selected an FTRC, it is important to note the Cancellation Terms and Conditions for use and booking with an FTRC differs from the above and can be found within the “Future Travel Refund Credit (FTRC) Policy” outlined in section 3.1.