Warranty Holdback definition

Warranty Holdback has the meaning set out in Section 43.1;
View Source
Warranty Holdback shall have the meaning set forth in Section 22.1 of this Agreement.
View Source
Warranty Holdback has the meaning set out in Section 45.1; “Warranty Period” has the meaning set out in Section 40.1;
View Source

Examples of Warranty Holdback in a sentence

  • Pursuant to the terms of the Warranty Holdback Escrow Agreement, Purchaser will have access to the Warranty Holdback funds in the event that Seller does not promptly complete repairs required under the Seller Warranty.

  • The Warranty Holdback shall be deposited in an interest bearing account reasonably acceptable to Seller and Purchaser, with interest inuring to the benefit of Seller.

  • Purchaser shall also have the right to withdraw funds from the Warranty Holdback in accordance with this Section 22.1.

  • Such sum shall be held in escrow and disbursed in accordance with the terms of the Warranty Holdback Escrow Agreement, which shall provide that after term of the Seller Warranty has ended, fifty percent (50%) of the funds remaining in the Warranty Holdback will be disbursed to Seller and 50% will be disbursed to Purchaser.

  • If Franchisor will not agree to waive its objections to the use of laminates on the millwork, Purchaser shall be responsible for any costs and expenses to take any corrective actions required by Franchisor regarding the laminates on the millwork; provided, however, that Purchaser shall be entitled to use up to One Hundred Thousand Dollars ($100,000) in funds from the Warranty Holdback to pay for such work.

  • If there remain any unused portions of the Warranty Holdback Amount after resolution or payment of such pending or unresolved Warranty Claims or Losses, such unused portions of the Warranty Holdback Amount shall be paid to Seller promptly following resolution of such claims or payment of such Losses.

  • Upon the reduction of the Warranty Holdback Amount, the Title Company shall release to Seller the applicable amount by wire transfer of immediately available funds.

  • With respect to any amounts applied by Buyer against the Warranty Holdback for repairs, such amounts shall be only with respect to costs for actual labor and materials, plus overhead for employment related expenditures, provided that such overhead shall not exceed 20% of the actual costs of such labor and materials.

  • For the Losses to be satisfied from the Warranty Holdback Amount, Buyer shall send written notice thereof to the Title Company and the Title Company shall release an amount of the Warranty Holdback Amount equal to the amount of the Losses described in such notice from Buyer.

  • Purchaser shall pay the Excess Warranty Holdback Amount (to the extent such amount is a positive number) pursuant to the terms of the Contingent Consideration Note on the August 31, 2011 Installment Due Date.


More Definitions of Warranty Holdback

Warranty Holdback has the meaning as set out in Section H5.1 of the Design Build Agreement;
View Source
Warranty Holdback shall have the meaning set forth in Section 2.2.
View Source
Warranty Holdback has the meaning set out in Schedule 8 [Payments];
View Source

Related to Warranty Holdback

  • Indemnity Escrow Amount means $3,000,000.

  • Professional Fee Escrow Amount means the aggregate amount of Professional Fee Claims and other unpaid fees and expenses Professionals estimate they have incurred or will incur in rendering services to the Debtors prior to and as of the Confirmation Date, which estimates Professionals shall deliver to the Debtors as set forth in Article II.C of the Plan.

  • Escrow Amount has the meaning set forth in Section 2.1(c).

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Adjustment Escrow Amount means $1,000,000.