Merchandise Returns. With respect to any merchandise sold at the Real Property prior to the Effective Time, Purchaser agrees to follow and adhere to the customary policy of the Business regarding merchandise returns, credits and refunds. Parent and Sellers shall have no obligation to reimburse Purchaser for any credits or refunds given by Purchaser with respect to any such returned merchandise, and Purchaser shall be entitled to resell such returned merchandise without paying any additional consideration therefor to Parent or Sellers. Sellers have delivered to Purchaser a true, correct and complete copy of the policies of the Business regarding merchandise returns, credits and refunds in effect on the date hereof.
Appears in 2 contracts
Sources: Asset Purchase Agreement (Finlay Fine Jewelry Corp), Asset Purchase Agreement (Zale Corp)