Warranty Expense definition

Warranty Expense means, with respect to any Material Project Contract, the normal provision for warranty costs in accordance with the relevant Seller’s past accounting practices;
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Warranty Expense means all payments, credits, costs and expenses reasonably incurred by Buyer in satisfying any Warranty Claims, including, as appropriate, any payments, credits, costs and expenses so incurred by Buyer in contesting any Proceeding initiated by any third party in respect of any Warranty Claim and any settlements, judgments or compromises relating thereto.
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Warranty Expense means, with respect to any Contract, the normal provision for warranty costs in accordance with the relevant company's established procedures on the date hereof;
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Examples of Warranty Expense in a sentence

  • Acquisition of Xalles Limited Agreement Schedules Schedule 3.20 - Product Warranty, Warranty Expense and Liability Claims Not applicable.

  • Class MSCP-3 consists of all Unsecured Claims, other than Convenience Claims against MSCP.

  • If they are unable to resolve any dispute within fifteen (15) days following the delivery of Whitxxxxx'x xx Aviant's Disputed Warranty Expense Notice, the dispute shall be submitted for arbitration in accordance with the commercial arbitration rules of the American Arbitration Association except as specified herein.

  • At any time prior to the first anniversary of the Closing Date (or, as provided in Section 5(e) below, the second anniversary of the Closing Date), Enterprise may submit to the Escrow Agent, Whitxxxxx xxx Aviant a written notice relating to Warranty Expenses which Enterprise has incurred or has determined that it may incur and for which Enterprise is entitled to be indemnified under the provisions of Article 9 of the Asset Purchase Agreement (a "Warranty Expense Notice").

  • As of the Closing, the Company shall have accrued an expense of $57,920.39 (the “Reserved Product Warranty Expense Accrual”) for product warranty claims, including warranty expenditures and materials, related to the Stillwater Dam project and the Center Ethanol project (the “Reserved Product Warranty Claims”).

  • The Company and its Subsidiaries aggregate Liability for Warranty Expense with respect to products sold by the Company or its Subsidiaries prior to Closing will not be in excess of the Warranty Expense reserve set forth on the Interim Balance Sheet (which reserve is to be maintained on the Closing Date Balance Sheet).

  • Except with respect to expenses incurred by Sellers for the repair and modification of the Planetary Swing-Drive Systems on the Walking Draglines (as defined in Section 7.06 below), to the extent Buyers incur Warranty Expense for the repair and modification of equipment under a warranty which was delivered by Sellers prior to the Closing Date, Buyers shall credit all such Warranty Expense against the Warranty Reserve.

  • In the event Whitxxxxx xx Aviant disputes any claim for Warranty Expenses detailed in a Warranty Expense Notice, Whitxxxxx xx Aviant shall notify Enterprise and the Escrow Agent in writing (a "Disputed Warranty Expense Notice") within twenty (20) days after receipt of the Warranty Expense Notice, setting forth a detailed description of the basis for its dispute of the Warranty Expenses claimed.

  • In the event the Warranty Expense has not yet been incurred, the Warranty Expense Notice shall include a statement that such Warranty Expense shall not be paid by the Escrow Agent until the conditions of Section 6(g) have been satisfied.

  • The Reserved Product Warranty Expense Accrual is in addition to $46,273.49 ($42,079.61 paid to Xxxxxxx and $4,193.88 for materials shipped for Xxxxxxx’x use) of warranty expenditures made to date by the Company on the Stillwater Dam project.


More Definitions of Warranty Expense

Warranty Expense means direct costs and Damages with respect to Warranty Claims but does not include costs associated with normal rework for customers incurred in the Ordinary Course of Business consistent with past practice and experience. For the avoidance of doubt, such direct costs and Damages shall not include expense related to allocations of overhead or management time.
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Warranty Expense means the amount, determined in accordance with the Accounting Principles, of expenses incurred in satisfying warranty claim costs in a manner consistent with the policies, pricing and practices employed by the Crimson Business prior to the Closing Date.
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Warranty Expense means: (a) with respect to parts manufactured by Buyers or Affiliates of Buyers now or in the future, the direct cost of labor, plus the cost of material, plus fifty (50%) percent of Buyers' Manufacturing Burden, (b) with respect to items or services other than parts manufactured by Buyers or Affiliates of Buyers now or in the future, the actual cost incurred by such Buyer or Affiliate of Buyer to acquire such items or services, or (c) with respect to parts manufactured or items or services provided by a third party which is not an Affiliate of Buyers now or in the future, the actual cost incurred by Buyer with respect thereto.
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Related to Warranty Expense

  • Extra Expense means expense or cost incurred (1) to continue the conduct of the Assured’s business,

  • Third Party Expenses has the meaning ascribed to it in Section 5.5.

  • Emergency Expenditures means any of the eligible expenditures set forth in the CERC Manual referred to in Section I.F of Schedule 2 to this Agreement and required for the Contingent Emergency Response Part.

  • Recovery Expenses means, for any Recovery Quarter, the amount of actual, reasonable and necessary out-of-pocket expenses (other than Capitalized Expenditures) paid to third parties (other than Affiliates of the Assuming Bank) by or on behalf of the Assuming Bank, as limited by Sections 3.2(c) and (d) of Article III to this Commercial Shared-Loss Agreement, to recover amounts owed with respect to (i) any Shared-Loss Asset as to which a Charge-Off was effected prior to the end of the final Shared-Loss Quarter (provided that such amounts were incurred no earlier than the date the first Charge-Off on such Shared-Loss Asset could have been reflected on the Accounting Records of the Assuming Bank), and (ii) Failed Bank Charge-Offs/Write-Downs (including, in each case, all costs and expenses related to an Environmental Assessment and any other costs or expenses related to any environmental conditions with respect to the Shared-Loss Assets (it being understood that any remediation expenses for any such pollutant or contaminant are not recoverable if in excess of $200,000 per Shared-Loss Asset, without the Assuming Bank having obtained the prior consent of the Receiver for such expenses); provided, that, so long as income with respect to a Shared-Loss Loan is being prorated pursuant to the arithmetical formula in subsection (II) of the definition of “Recoveries”, the term “Recovery Expenses” shall not include that portion of any such expenses paid during such Recovery Quarter to recover any amounts owed on that Shared-Loss Loan that is derived by: subtracting (1) the product derived by multiplying:

  • Emergency Expenditure means any of the Eligible Expenditures set forth in the CERC Operations Manual in accordance with the provisions of Section I.G of Schedule 2 to this Agreement and required for the activities included in the CERC Part of the Project.

  • Rental Expense means, for any period, the aggregate amount of rental expense according to GAAP with respect to leases of real and personal property (but excluding obligations in respect of Capital Leases) for such period.

  • Maintenance Costs means parts and materials, sublet and labour costs of a qualified licensed mechanic for the maintenance of the Revenue Service Vehicles, but shall not include costs associated with interior and exterior transit advertising signs and non-mechanical servicing of Revenue Service Vehicles such as fuelling, clearing fareboxes, cleaning and painting wheel rims, vehicle washing and other work performed by a serviceman; and,

  • Cost Reimbursement means a contract which provides for a fee other than a fee based on a percentage of cost and under which a contractor is reimbursed for costs which are allowable and allocable in accordance with the contract terms.

  • Delivery Expenses means all costs, taxes, duties and/or expenses, including stamp duty, stamp duty reserve tax and/or other costs, duties or taxes arising from the Delivery of the Asset Amount.

  • SLDC Charges means the charges levied by the SLDC of the state wherein the Solar Power Project is located;

  • Project Expenses means usual and customary operating and financial costs. The term does not include extraordinary capital expenses, development fees and other non-operating expenses.

  • Liquidity Expenses means all Liquidity Obligations other than (i) the principal amount of any Drawings under the Liquidity Facilities and (ii) any interest accrued on any Liquidity Obligations.