NON-REFUNDABLE EXCEPTION Sample Clauses
A Non-Refundable Exception clause specifies circumstances under which payments made are not eligible for refund, even if other refund provisions exist in the agreement. Typically, this clause applies to certain fees, deposits, or costs that are designated as non-refundable, such as administrative fees or custom-ordered goods. Its core function is to clearly allocate financial risk and prevent disputes by identifying payments that the payee will retain regardless of subsequent events or contract termination.
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NON-REFUNDABLE EXCEPTION. Monies advanced herein shall be on a non-refundable basis, excepting that advanced monies shall be refundable to reimburse Thane's out-of-pocket costs upon termination of this Agreement by the an event which materially impairs Thane's ability to manage the Project as contemplated herein, including without limitation, Biozhem misrepresenting a material fact herein, and action on the part of governmental authorities preventing substantial performance of this Agreement.