INITIAL STOCK ORDER RETURNS Sample Clauses

The Initial Stock Order Returns clause outlines the terms under which a buyer may return products from their initial stock order to the seller. Typically, this clause specifies the time frame within which returns are permitted, the condition products must be in to qualify for return, and any restocking fees or procedures that apply. Its core practical function is to provide flexibility and reduce risk for buyers who may overestimate their initial inventory needs, while also setting clear expectations and limits for both parties regarding returns.
INITIAL STOCK ORDER RETURNS. Seco recognizes the need for new Distributors to put in an initial inventory of products to support a Distributor start-up. Seco encourages new Distrib- utors to consult the local Technical Specialist or Application Engineer to help define the require- ments of the local market and build its initial inventory based on those needs. Nevertheless, selection of this inventory is speculative and may result in surplus or dormant stock. Distributors are encouraged to keep these initial inventory purchases low and build inventories as demand and experience develop. However, a single initial stock order will be accepted with the approval of the Regional Manager. Any product purchased on this initial order may be returned at any time up to 6 months from the date of in- voice. This one-time return will not count against the monthly return limit, nor will a handling charge apply. The return must be pre-approved and an RM number obtained. Seco is committed to a strong working relationship with its Distributor channel partners. Eliminating redundant activities and costs, clearly defining our roles and responsibilities, and jointly bringing value-added services to the end-user customer are keys to our success in today’s competitive environ- ment. We recognize the importance of open communica- tion and will continue to support an ongoing dia- ▇▇▇▇▇ including the Distributor Advisory Council and the Distributor Conference. The commitment to Customer Service, Functional Business Practice Excellence, Certified Pro3 STEP training, and Partnership and Promotion of Seco products and services exemplified by Seco’s GoldStar Distribu- tors serves as a common business philosophy. The following business practices are designed to imple- ment this philosophy.
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Related to INITIAL STOCK ORDER RETURNS

  • Share Distributions Upon the timely receipt by the Depositary of a notice from the Company that it intends to make a distribution that consists of a dividend in, or free distribution of Shares, the Depositary shall establish the ADS Record Date upon the terms described in Section 4.9 of the Deposit Agreement. Upon receipt of confirmation from the Custodian of the receipt of the Shares so distributed by the Company, the Depositary shall either (i) subject to Section 5.9 of the Deposit Agreement, distribute to the Holders as of the ADS Record Date in proportion to the number of ADSs held as of the ADS Record Date, additional ADSs, which represent in the aggregate the number of Shares received as such dividend, or free distribution, subject to the other terms of the Deposit Agreement (including, without limitation, (a) the applicable fees and charges of, and expenses incurred by, the Depositary and (b) taxes), or (ii) if additional ADSs are not so distributed, take all actions necessary so that each ADS issued and outstanding after the ADS Record Date shall, to the extent permissible by law, thenceforth also represent rights and interests in the additional integral number of Shares distributed upon the Deposited Securities represented thereby (net of (a) the applicable fees and charges of, and expenses incurred by, the Depositary, and (b) taxes). In lieu of delivering fractional ADSs, the Depositary shall sell the number of Shares or ADSs, as the case may be, represented by the aggregate of such fractions and distribute the net proceeds upon the terms described in Section 4.1 of the Deposit Agreement.

  • Tax Periods Beginning Before and Ending After the Closing Date The Company or the Purchaser shall prepare or cause to be prepared and file or cause to be filed any Returns of the Company for Tax periods that begin before the Closing Date and end after the Closing Date. To the extent such Taxes are not fully reserved for in the Company’s financial statements, the Sellers shall pay to the Company an amount equal to the unreserved portion of such Taxes that relates to the portion of the Tax period ending on the Closing Date. Such payment, if any, shall be paid by the Sellers within fifteen (15) days after receipt of written notice from the Company or the Purchaser that such Taxes were paid by the Company or the Purchaser for a period beginning prior to the Closing Date. For purposes of this Section, in the case of any Taxes that are imposed on a periodic basis and are payable for a Taxable period that includes (but does not end on) the Closing Date, the portion of such Tax that relates to the portion of such Tax period ending on the Closing Date shall (i) in the case of any Taxes other than Taxes based upon or related to income or receipts, be deemed to be the amount of such Tax for the entire Tax period multiplied by a fraction the numerator of which is the number of days in the Tax period ending on the Closing Date and the denominator of which is the number of days in the entire Tax period (the “Pro Rata Amount”), and (ii) in the case of any Tax based upon or related to income or receipts, be deemed equal to the amount that would be payable if the relevant Tax period ended on the Closing Date. The Sellers shall pay to the Company with the payment of any taxes due hereunder, the Sellers’ Pro Rata Amount of the costs and expenses incurred by the Purchaser or the Company in the preparation and filing of the Tax Returns. Any net operating losses or credits relating to a Tax period that begins before and ends after the Closing Date shall be taken into account as though the relevant Tax period ended on the Closing Date. All determinations necessary to give effect to the foregoing allocations shall be made in a reasonable manner as agreed to by the parties.

  • Complete Portfolio Holdings From Shareholder Reports Containing a Summary Schedule of Investments; and

  • Expense-Related & Other Award Prescribed Allowances All expense-related and other incorporated Award allowances not specifically addressed by this Agreement will be paid at the applicable rate provided by the Award.

  • Share Dividends; Split Ups If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding Shares is increased by a stock dividend payable in Shares or by a split up of Shares or other similar event, then, on the effective day thereof, the number of Shares purchasable hereunder shall be increased in proportion to such increase in outstanding Shares, and the Exercise Price shall be proportionately decreased.