Gift Cards. B&N shall (i) make available to BNED for sale in the BNED Business B&N-Issued Gift Cards and (ii) issue gift cards skinned as reasonably requested by BNED, and BNED shall honor B&N-Issued Gift Cards, pursuant to the terms and conditions set forth on Schedule 9.02.
Gift Cards. The Company shall pay (and the Parent shall cause the Company to pay) SBEEG for the face amount of each gift card that is included in the calculation of Working Capital as of the Closing which are subsequently redeemed at any property owned or managed by SBEEG or any of its Affiliates following the Closing within fifteen (15) days after receipt by the Company or the Parent of an invoice therefor.
Gift Cards. Such Seller’s Latest Balance Sheet reflects all liabilities of such Seller with respect to gift cards, except for liabilities with respect to gift cards sold in the ordinary course of business after the date of the Latest Balance Sheet. Since the inception of the gift card program, such Seller has not recorded any revenue with respect to sales of gift cards other than amounts recorded upon redemption of the gift card.
Gift Cards. After the Closing Date it is contemplated that Gift Cards issued by Seller prior to the Closing Date and which are not redeemed prior to the Closing Date will be presented to Purchaser for redemption. Following the Closing Date, Purchaser shall recognize and honor such Gift Cards upon presentation. Subject to this Section 6.7 and the Gift Card Escrow Agreement, for a period of eighteen (18) months (the “Gift Card Liability Period”), Seller shall reimburse and indemnify Purchaser for any such amount in accordance with Section 7.2 and Section 7.8 hereof. Seller and Purchaser shall enter into the Gift Card Escrow Agreement to provide for a cash escrow in the amount provided therein and such agreement will have a term of twelve (12) months following the Closing Date. Following the twelfth month after the Closing Date, the Gift Card Escrow Agent shall deliver to Seller the remaining balance of the Gift Card Escrow Account in accordance with the Gift Card Escrow Agreement. Disbursements to Purchaser in connection with the redemption of Gift Cards during the period of the Gift Card Escrow Account shall be in accordance with the terms, and subject to the conditions, set forth in the Gift Card Escrow Agreement. Disbursements by Purchaser in connection with the redemption of Gift Cards after the twelfth month following the Closing Date but before the Gift Card Liability Period has expired will be promptly reimbursed to Purchaser on a monthly basis upon Seller’s receipt of documentation evidencing Purchaser’s redemptions; provided, however, that as of the thirteenth month following the Closing Date, Purchaser shall be liable for the first One Hundred Thousand Dollars ($100,000) of Gift Cards presented to Purchaser for redemption; provided, Seller shall reimburse and indemnify Purchaser for any amount in excess of such One Hundred Thousand Dollars ($100,000) during the six (6) months following the twelfth month following the Closing Date.
Gift Cards. For a period of up to 90 days following the last Closing Date, Buyers may accept in full any proprietary gift card issued by Seller for use at the Stores (“Gift Cards”) from customers who present Gift Cards at any Store, and Seller and Parent agree to reimburse the applicable Buyer for payments made by such Buyer during that 90-day period for the Gift Cards as follows: (a) upon presentment of a Gift Card at a point of sale in a Store as payment by a customer, an employee of such Buyer will contact Seller’s representative at the toll-free number embossed on the Gift Card to determine the balance on such Gift Card using its unique identification number, (b) such Buyer’s employee will write the value of the Gift Card, as provided by Seller’s representative, on the Gift Card using a permanent marker (such as a Sharpie® pen), (c) such Buyer’s employee will exchange the Gift Card for (i) an equivalent proprietary gift card issued by such Buyer, for use at such Buyer’s retail locations and in the amount of the Gift Card’s balance, or (ii) if such Buyer has no gift card program, cash in the amount of the Gift Card balance, (d) such Buyer will send to Seller and Parent monthly, at the Redemption Address, (i) an Excel file covering all Gift Cards presented at all Stores during the preceding month that such Buyer processed in accordance with clauses (a) through (c) of this Section 9.7, with the unique identification number and amount for each such Gift Card and (ii) the actual Gift Cards listed in the Excel file covering such preceding month, (e) Seller will remove in Seller’s records all value for the Gift Card numbers included in each such electronic Excel file received by Seller and Parent, and will alert such Buyer of any discrepancies found, and (f) Seller and Parent will reimburse such Buyer by check on a monthly basis for the amount of the balances of all such Gift Cards received from such Buyer, less any discrepancies, in the prior month within 20 days of the end of such prior month. Notwithstanding anything contained herein to the contrary, Seller will be under no obligation whatsoever to sell any Gift Cards following the date hereof. Three business days prior to the first Transition Date Closing, Seller will inform Buyers of the then-outstanding aggregate Gift Card balance.
Gift Cards. Other than the Gift Cards and the Bonus Cards, Seller has no Liability in respect of any gift cards, coupons, discounts or similar Liabilities with respect to the Business or the Acquired Assets.
Gift Cards if option selected) Client is responsible for the purchase of gift cards from Amazon or any other Amazon gift card cash-back program such as “gyft.com” which gift cards will be used to pay for the purchases of products from Amazon that are sold through the Client’s eBay Store. Client shall be required to purchase the gift cards in quantities as indicated by SaleFreaks or as notified through the Hosted Service and Client shall enter all required information relating to such gift cards into the Hosted Service to be drawn upon as per SaleFreaks's instructions. Gift card balances will be held by Client and maintained by Amazon.
Gift Cards. As early as reasonably practicable after the Internet Closing Date, the Seller shall, or shall cause one or more of its Affiliates to, establish procedures whereby customers holding gift cards issued by the Seller Group prior to the date hereof may receive cash payments of amounts on account with respect to such gift cards and use reasonable commercial efforts to provide such customers with substantially the same standard of service in connection with such procedures as is provided to such customers as of the date hereof. Such procedures shall include, establishing a toll-free phone number to provide customers with information on how to redeem such gift cards for cash. The Seller or its Affiliate shall provide such toll-free number at no cost to any such customer or to Real Estate Buyer and shall maintain such number for a period no less than six (6) months following February 29, 2008. In the event any such customers for any reason request redemption of gift cards for cash or merchandise from the Real Estate Buyer at any of the Acquired Premises, Real Estate Buyer may redeem such gift cards by paying such customers for the amount on account with respect to such gift cards or by giving such customers merchandise having a price equal to such amount (or a combination) and shall be entitled to reimbursement from the Seller for such reimbursement; provided that prior to redeeming such gift cards Real Estate Buyer shall have confirmed the validity of the gift card and the amounts owed to such customers under such gift cards by calling the toll-free number. At the end of each month following the earliest Real Estate Closing until August 2008, Real Estate Buyer shall send a statement to the Seller setting forth in reasonable detail the amounts paid or delivered by the Real Estate Buyer to redeem such gift cards in such month along with the redeemed gift cards. No later than five (5) Business Days following Seller’s receipt of such statement, Seller shall deliver to Real Estate Buyer the amount set forth on such statement in respect of valid gift cards. Seller shall not be liable for any redemptions by the Real Estate Buyer of any gift cards after August 31, 2008.