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;

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

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;

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.

Examples of Warranty Expense in a sentence

Warranty Expense Brocade provides for estimated expenses for warranty obligations as revenue is recognized to the extent not covered by its third-party contract manufacturer.
Each Warranty Expense Notice shall set forth the representation, warranty or covenant contained in the Asset Purchase Agreement which has been breached and which gives rise to the Warranty Expense, the estimated amount of the Warranty Expense together with a detailed calculation thereof, whether the Warranty Expense relates to litigation, arbitration or other proceedings commenced by a third party and whether such Warranty Expense has been incurred or not yet incurred.
Except with respect to any Borrower that merges into or consolidates with another Borrower as allowed by Section 9.9, each Borrower shall maintain its existence and its qualification and good standing in all jurisdictions in which the failure to maintain such existence and qualification or good standing could reasonably be expected to have a Material Adverse Effect.
The Company Disclosure Schedule sets forth the Warranty Expense of the Company and its Subsidiaries as of and for the years ended December 31, 2009 and 2010 and as of and for the interim period ended on the Interim Balance Sheet Date.
If Seller should object to any item in the Repair Warranty Expense report, Buyer and Seller shall endeavor in good faith for a period of ten (10) days to resolve such dispute, after which either party may tender the dispute to binding arbitration, with the cost of such arbitration to be assessed against the nonprevailing party.
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, Whit▇▇▇▇▇ ▇▇▇ 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").
Any Warranty Servicing Expenses which are timely submitted by TPI to TPIC and which are undisputed by TPIC as set forth above shall be paid by TPIC to TPI within thirty (30) days following TPIC’s receipt of the Warranty Expense Notice, and any disputed portion of the Warranty Servicing Expenses that are ultimately agreed between TPIC and TPI to be payable hereunder (if any) shall be paid by TPIC to TPI within thirty (30) days following final resolution of such dispute.
The Reserved Product Warranty Expense Accrual shall be considered a current liability of the Company for purposes of calculating the Closing Net Working Capital.
The Reserved Product Warranty Expense Accrual is in addition to $46,273.49 ($42,079.61 paid to ▇▇▇▇▇▇▇ and $4,193.88 for materials shipped for ▇▇▇▇▇▇▇’▇ use) of warranty expenditures made to date by the Company on the Stillwater Dam project.
For so long as (i) no Trigger Period and no other Warranty Expense shall exist at the time of such completion and (ii) Borrower has delivered to Lender evidence satisfactory to Lender and Servicer that the applicable Warranty Expense has been completed in a manner reasonably acceptable to Lender and full payment of the same has been made, Lender shall release to Borrower any remaining Warranty Expense Funds in the Warranty Expense Account.

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.

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.

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.