Common use of Returns and Exchanges Clause in Contracts

Returns and Exchanges. SRC shall accept returns and exchanges (collectively “Returns”) from customers in the LE Shops and at other SRC POS locations (regardless of whether such location has an LE Shop), of: (i) LE Merchandise and (ii) products sold by LE through other channels (e.g., catalog, ▇▇▇▇▇▇▇▇.▇▇▇, LE inlet stores, collectively “Non-LE Shop Products”) consistent with past practices for the types of goods SRC has accepted in the past and in accordance with SRC’s standard policies. LE shall reimburse SRC for all amounts paid by SRC to customers in connection with such Returns. For all Non-LE Shop Products which are not recognized by SRC “POS Terminals” (as defined below), SRC will return such products to LE, at LE’s expense and LE will be responsible for handling the return or exchange with the customer, unless SRC has done so at the POS (as a customer accommodation). Returns of all LE Merchandise presented at a Sears POS Terminal will be handled by SRC, at LE’s expense. All Returns of Merchandise originally sold through an LE Shop which SRC’s Personnel deem to be saleable (and which are part of the current assortment) will be returned to the sales floor, and all other Returns of Merchandise originally sold through an LE Shop will be marked out of stock (“MOS”) and will become SRC’s property without any payment due LE; for clarity the parties acknowledge that the consideration for this transfer is included in the other pricing in this Agreement.