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, 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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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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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: (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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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 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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Related to Warranty Expense

  • Property Expenses means the costs (including, but not limited to, payroll, taxes, assessments, insurance, utilities, landscaping and other similar charges) of operating and maintaining any Eligible Property or Property which secures Other Recourse Debt that are the responsibility of the Borrower or the applicable Material Subsidiary that are not paid directly by any Tenant, but excluding depreciation, amortization, interest costs and maintenance capital expenditures.

  • 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.

  • Rent Expense means for any fiscal period, the total amount of rents and other charges payable during such period by the Credit Parties and their respective Subsidiaries under all Real Estate Leases to which they are a lessee, all as determined on a consolidated basis in accordance with GAAP.

  • 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:

  • O&M Expenses means expenses incurred by or on behalf of the Developer or by the Authority, as the case may be, for all O&M including (a) cost of salaries and other compensation to employees, (b) cost of materials, supplies, utilities and other services, (c) insurance premium, (d) all taxes, duties, cess and fees due and payable for O&M, (e) all repair, replacement, reconstruction, reinstatement, improvement and maintenance costs, (f) payments required to be made under the O&M Contract, or any other contract in connection with or incidental to O&M, and (g) all other expenditure required to be incurred under Applicable Laws, Applicable Permits or this Agreement.

  • 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.

  • Lease Expense means, with respect to any Person, for any period for such Person and its subsidiaries on a Consolidated basis, lease and rental expense accrued during such period under all leases and rental agreements, other than Capital Leases and leases of personal property, determined in conformity with GAAP.

  • Rental Expense means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, total rental expense as calculated in accordance with GAAP.

  • 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,

  • Credit Party Expenses means, without limitation, (a) all reasonable out-of-pocket expenses incurred by the Agents and their respective Affiliates, in connection with this Agreement and the other Loan Documents, including without limitation (i) the reasonable fees, charges and disbursements of (A) counsel for the Agents, (B) outside consultants for the Agents, (C) appraisers, (D) commercial finance examiners, and (E) without duplication of any amounts reimbursed pursuant to the foregoing subclauses (i) (A) – (D), all such reasonable out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of the Secured Obligations, (ii) in connection with (A) the syndication of the credit facilities provided for herein, (B) the administration and management of this Agreement and the other Loan Documents or the preparation, negotiation, execution and delivery the Loan Documents or of any amendments, modifications or waivers of the provisions thereof (whether or not the transactions contemplated thereby shall be consummated), (C) the enforcement or protection of their rights in connection with this Agreement or the Loan Documents or efforts to preserve, protect, collect, or enforce the Collateral or in connection with any proceeding under any Debtor Relief Laws, or (D) without duplication of any amounts reimbursed pursuant to the foregoing subclause (ii)(C), any workout, restructuring or negotiations in respect of any Secured Obligations, and (b) with respect to any LC Issuer, and its Affiliates, all reasonable out-of-pocket expenses incurred in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder; and (c) all reasonable out-of-pocket expenses incurred by the Credit Parties who are not the Agents, an LC Issuer or any Affiliate of any of them, after the occurrence and during the continuance of an Event of Default, including, without limitation, in connection with any workout, restructuring or negotiations in respect of the Secured Obligations, or enforcement or protection of their rights or efforts to preserve, protect, collect, or enforce the Collateral or in connection with any proceeding under any Debtor Relief Laws, provided, that such Credit Parties shall be entitled to reimbursement for no more than one counsel representing all such Credit Parties (absent a conflict of interest in which case the Credit Parties may engage and be reimbursed for additional counsel). All Credit Party Expenses shall be payable on written demand therefor accompanied by reasonable documentation with respect to any reimbursement, indemnification or other amount requested.

  • Claim Expenses means reasonable documented attorneys’ fees and all other reasonable documented out-of-pocket costs, expenses and obligations (including experts’ fees, travel expenses, court costs, retainers, transcript fees, duplicating, printing and binding costs, as well as telecommunications, postage and courier charges) paid or incurred in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to investigate, defend, be a witness in or participate in, any Claim, including any Action relating to a claim for indemnification or advancement brought by an Indemnified Party as contemplated in Section 7.5.

  • 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.

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

  • Permitted Expenses means the reasonable and documented costs and expenses incurred by the Agents and the Lenders (and their respective agents or professional advisors) in connection with the preparation, administration, amendment and due diligence of this Agreement and the other Credit Documents and, which costs and expenses the Borrower shall reimburse to the Administrative Agent or shall pay or cause to be paid in accordance with the Credit Documents. “Permitted Expenses” shall include, without limitation, the expenses set forth in Sections 5.10 and 9.2 hereof.

  • Collection Costs means an amount that the Municipality can charge with regard to the enforcement of a consumer’s monetary obligations;

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • 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.

  • Cash Expenses means, for any period, the operating expenses for the operation of the Property as set forth in an Approved Annual Budget to the extent that such expenses are actually incurred by Borrower minus any payments into the Tax and Insurance Escrow Fund.

  • Insured Expenses Expenses covered by an Insurance Policy or any other insurance policy with respect to the Mortgage Loans.

  • 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.

  • Estimated Project Cost means Benchmark cost of MNRE which is Rs 8.00 Crore/MWp as per MNRE letter no. 03/20/2014-15/GCRT/11.12.14 at the time of Bid Due date.

  • 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.

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.