Determination and Payment of Resale Value Sample Clauses

The "Determination and Payment of Resale Value" clause establishes how the value of an asset, typically at the end of a lease or contract, is calculated and how any resulting payment is handled between the parties. This clause outlines the method for assessing the asset's fair market value, which may involve independent appraisals or agreed-upon formulas, and specifies the timing and process for settling any balance owed based on that value. Its core function is to ensure both parties have a clear, agreed-upon process for valuing and settling the asset at contract end, thereby reducing disputes and providing financial certainty.
Determination and Payment of Resale Value. 9.2.1 Upon request, Lenovo will make an initial assessment of whether the Products can be reconditioned or otherwise have resale value and provide an estimate of the price Lenovo would be willing to pay therefor, based on information about the Products provided by Customer prior to the start of the Service engagement or Service Request. The initial assessment and estimate will assume that such Products are functional, complete, and in good cosmetic condition. It is an estimated price only and shall not be in any way considered the final purchase price for the Product. 9.2.2 After Product has been delivered by Customer to Lenovo at the pickup location, Lenovo will assess the condition of the Product and determine (a) which Products have resale value and (b) the then current fair market value of such Products. The list of such Products and final purchase prices that Lenovo will pay Customer for such Products will be set forth in the Settlement Report. The final purchase price may be greater or less than any estimated price provided to Customer. Any Products that are not in good condition or good working order, or that have missing components such as floppy drive, optical drive, memory, hard drive (if missing at the time of collection), power adaptor, battery, etc. may be deemed to have no resale value. If a Product has cosmetic deficiencies or is in need of repairs, Lenovo may apply deductions to the value that otherwise would apply to such Product if it were in functional, complete and good cosmetic condition to account for cosmetic deficiencies or needed repairs. If the deductions exceed such value, the Product will be deemed to have no resale value. 9.2.3 Lenovo will pay Customer the final purchase price set forth in the Settlement Report within thirty (30) calendar days of delivery of the Settlement Report to Customer.
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Determination and Payment of Resale Value. (a) The initial assessment and estimate will assume that such Devices are functional, complete, and in good cosmetic condition. It is an estimated price only and shall not be in any way considered the final purchase price for the Device. (b) After Device has been delivered by Customer to Lenovo at the pickup location, Lenovo will assess the condition of the Device and determine (a) which Devices have resale value and (b) the then current fair market value of such Devices. The list of such Devices and final purchase prices that Lenovo will pay to the Customer for such Devices will be set forth in the Settlement Report. The final purchase price may be greater or less than any estimated price provided to Customer. Devices, including Other Devices that are not in good condition or good working order, or that have missing components such as floppy drive, optical drive, memory, hard drive (if missing at the time of collection), power adaptor, battery, etc. may be deemed to have no resale value as determined solely by ▇▇▇▇▇▇. If a Device has cosmetic deficiencies or is in need of repairs, Lenovo may apply deductions to the value that otherwise would apply to such Device if it were in functional, complete and good cosmetic condition to account for cosmetic deficiencies or needed repairs. If the deductions exceed such value, the Device will be deemed to have no resale value. (c) Lenovo will pay Customer, upon ▇▇▇▇▇▇’s receipt of a Customer generated invoice, the final purchase price set forth in the Settlement Report within thirty (30) calendar days of delivery of the Settlement Report to Customer. Such invoice shall be in the applicable format to support regional and country transmission requirements.
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Related to Determination and Payment of Resale Value

  • Calculation and Payment Interest on LIBOR Loans and all other Obligations and the amount of any fees set forth in Subsection 1.4 shall be calculated on the basis of a three hundred sixty (360) day year for the actual number of days elapsed. Interest on the Base Rate Loans shall be calculated on the basis of a three hundred sixty-five or -six (365-6) day year for the actual number of days elapsed. The date of funding or conversion to a Base Rate Loan and the first day of an Interest Period with respect to a LIBOR Loan shall be included in the calculation of interest. The date of payment of any Loan and the last day of an Interest Period with respect to a LIBOR Loan shall be excluded from the calculation of interest; provided, if a Loan is repaid on the same day that it is made, one (1) day’s interest shall be charged. Interest accruing on the Base Rate Loan is payable in arrears on each of the following dates or events: (i) the last day of each calendar quarter; (ii) the prepayment of such Loan (or portion thereof); and (iii) the applicable Maturity Date or the Revolving Loan Expiration Date, as the case may be, whether by acceleration or otherwise. Interest accruing on each LIBOR Loan is payable in arrears on each of the following dates or events: (i) the last day of each applicable Interest Period; (ii) if the Interest Period is longer than three (3) months, on each three-month anniversary of the commencement date of such Interest Period; (iii) the prepayment of such Loan (or portion thereof); and (iv) the applicable Maturity Date or the Revolving Loan Expiration Date, as the case may be, whether by acceleration or otherwise.

  • Calculation and Payment of Interest (a) Interest on the outstanding principal amount from time to time of each Prime Rate Loan and Base Rate Canada Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 365 or 366, as the case may be. (b) Interest on the outstanding principal amount from time to time of each LIBOR Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 360. (c) Accrued interest shall be paid, (i) in the case of interest on Prime Rate Loans and Base Rate Canada Loans, in arrears monthly on the 22nd day of each calendar month; and (ii) in the case of interest on LIBOR Loans, on the last day of the applicable Interest Period; provided that, in the case of Interest Periods of a duration longer than three months, accrued interest shall be paid no less frequently than every three months from the first day of such Interest Period during the term of such Interest Period and on the date on which such LIBOR Loans are otherwise required to be repaid.

  • Computation and Payment of Fee The advisory fee shall accrue on each calendar day, and shall be payable monthly on the first business day of the next succeeding calendar month. The daily fee accruals shall be computed by multiplying the fraction of one divided by the number of days in the calendar year by the annual advisory fee rate, and multiplying this product by the Managed Assets of the Fund, determined in the manner established by the Directors, as of the close of business on the last preceding business day on which the Fund's net asset value was determined.

  • Payment of the Fundamental Change Repurchase Price Without limiting the Company’s obligation to deposit the Fundamental Change Repurchase Price within the time proscribed by Section 3.01(B), the Company will cause the Fundamental Change Repurchase Price for a Note (or portion thereof) to be repurchased pursuant to a Repurchase Upon Fundamental Change to be paid to the Holder thereof on or before the later of (i) the applicable Fundamental Change Repurchase Date; and (ii) the date (x) such Note is delivered to the Paying Agent (in the case of a Physical Note) or (y) the Depositary Procedures relating to the repurchase, and the delivery to the Paying Agent, of such Holder’s beneficial interest in such Note to be repurchased are complied with (in the case of a Global Note). For the avoidance of doubt, interest payable pursuant to the proviso to Section 4.02(D) on any Note to be repurchased pursuant to a Repurchase Upon Fundamental Change must be paid pursuant to such proviso regardless of whether such Note is delivered or such Depositary Procedures are complied with pursuant to the first sentence of this Section 4.02(G).

  • Measurement and Payment Temporary traffic control work, including, but not limited to installation and removal of portable signs, cones, drums, skinny drums, flaggers, AFAD’s, changeable message boards, truck mounted attenuators, flashing arrow boards, and pilot vehicles will be paid at the contract lump sum price for