Common use of Returns and Rebates Clause in Contracts

Returns and Rebates. (a) Acme accepts the financial responsibility for all product returns of the Business which occurred prior to the Closing Date; provided, however, that Buyer hereby agrees to purchase from Acme any returned products which have a remaining shelf life of not less than 12 months (except for products that have been returned for quality reasons) which are resalable in the ordinary course of business at the same prices at which other similar products sold, provided that the value of the products so returned does not exceed $10,000; (b) Acme agrees to reimburse Buyer for any rebate amount claimed by any customer in connection with (and limited to) sales of the Business made and invoiced by such customers within seventy-five (75) days after the Closing Date to end-user purchased, provided, however, that Acme shall have no such liability except to the extent the rebate amount claimed is properly documented to Acme and would be properly payable under Acme's rebate policy existing on the date of this Agreement. Buyer shall be solely responsible for paying any such rebate amounts in respect of sales of the Business sold and invoiced to end-user purchasers seventy-six (76) or more days after the Closing Date. (c) Each of the parties shall cooperate fully with the other in forwarding to the proper party any misdirected rebate requests that it receives.

Returns and Rebates. (a) Acme Maxxim accepts the financial responsibility for all product returns of the Business Products which occurred prior to the Closing Date; provided, however, that Buyer hereby agrees to purchase from Acme Maxxim any returned products which have a remaining shelf life of not less than 12 months (except for products that have been returned for quality reasons) which are resalable in the ordinary course of business at the same prices at which other similar products sold, provided that the value of the products so returned does not exceed $10,00025,000; (b) Acme Maxxim agrees to reimburse Buyer on February 15, 2003, for any rebate amount claimed by any customer in connection with (and limited to) sales of the Business Products made and invoiced by such customers to end-user purchasers within seventy-five sixty (7560) days after the Closing Date to end-user purchasedDate, provided, however, that Acme Maxxim shall have no such liability except to the extent the rebate amount claimed is properly documented to Acme Maxxim and would be properly payable under AcmeMaxxim's rebate policy existing on the date of this Agreement. Buyer shall be solely responsible for paying any such rebate amounts in respect of sales of the Business Products sold and invoiced to end-user purchasers seventysixty-six one (7661) or more days after the Closing Date. (c) Each of the parties shall cooperate fully with the other in resolving any conflicts with customers regarding the proper party to pay rebates and forwarding to the proper other party any misdirected rebate requests that it receives.