Nonreturnable Clause Samples

Nonreturnable. All parts and accessories not coded as returnable in the Master Price List are “nonreturnable” and shall be considered an obsolete part. The purchase price for the nonreturnable parts and accessories, non-Manufacturer, “jobber” or “NPN” parts and accessories will be considered as and sold as obsolete parts pursuant to Section 1 (b)(iv).
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Nonreturnable. All parts and accessories not coded as returnable in the Master Price List are “nonreturnable”. The values for the nonreturnable parts and accessories, non-Manufacturer, “jobber” or “NPN” parts and accessories and nuts and bolts will be as mutually agreed by the Parties. Notwithstanding anything to the contrary herein, NewCo shall accept from Contributor, and Contributor shall contribute to NewCo, nonreturnable Manufacturer and non-Manufacturer parts and accessories at Contributor’s documented actual costs (not to exceed $300,000.00 for nonreturnable Manufacturer parts and accessories and $30,000.00 for nonreturnable non-Manufacturer parts and accessories, in each case pursuant to all of the ACAs (defined below)). Notwithstanding anything herein to the contrary, NewCo shall accept from Contributor, and Contributor shall contribute to NewCo, all nonreturnable Manufacturer and non-Manufacturer parts and accessories at Contributor’s documented actual costs all pre-sold Manufacturer and non-Manufacturer nonreturnable parts and accessories.
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Nonreturnable. All parts and accessories not coded as returnable in the Master Price List are “nonreturnable”. The purchase price for the nonreturnable parts and accessories, non-Manufacturer, “jobber” or “NPN” parts and accessories and nuts and bolts will be as mutually agreed by the Parties; provided that Buyer will purchase up to $100,000 (at Seller’s documented actual cost) of Seller’s useable non-returnable OEM parts and up to $30,000 (at Seller’s documented actual cost) of non-OEM parts and accessories.
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Nonreturnable. The purchase price for all of the Selling Entities’ non-returnable parts useable on Manufacturer vehicles will be an amount equal to twenty-five percent of the price listed in the Master Price List (less all applicable rebates and discounts). The purchase price for obsolete parts or accessories will be mutually agreed to by the parties no later than ten (10) days prior to the Closing Date. The purchase price for Non-Manufacturer Parts and Accessories useable on Manufacturer vehicles shall be an amount equal to the Selling Entities’ actual cost less all applicable allowances and discounts paid or payable to the Selling Entities. Upon Closing, to the extent allowed by the applicable Manufacturer, the Selling Entities will be deemed to have automatically assigned, and shall assign, to the Purchaser all of the Selling Entities’ parts return rights without any further action. If any parts and accessories or other inventories or goods that the Purchaser is not obligated to purchase hereunder are not removed from the Real Property within ten (10) days after the Closing Date, such property will automatically become Purchased Assets transferred to the Purchaser pursuant to the ▇▇▇▇ of Sale and Assignment and Assumption Agreement without additional consideration. All of the Dealerships’ useable miscellaneous supply inventories, including but not limited to batteries, nuts, bolts, screws, gas, oil, grease, fluids, solvents, paint and body shop materials shall be purchased at Sellers’ verifiable actual cost net of any discount received or to be received by Sellers. With respect to non-bulk oil, grease, fluids, solvents, paint and body shop materials, the Purchaser will only be obligated to pay for any such inventories that are in unopened containers, and if any such items are not removed from the Real Property within ten (10) days after the Closing Date, such property will automatically become Purchased Assets transferred to the Purchaser pursuant to the ▇▇▇▇ of Sale and Assignment and Assumption Agreement without additional consideration. The purchase price for all returnable and unexpired new tires with sales in the last 12 months shall be cost net of any discount received or to be received by the Selling Entities. Tires beyond their expiration date will be excluded from the sale. To the extent allowed by the applicable tire vendor, the Selling Entities will be deemed to have automatically assigned, and shall assign, to the Purchaser all of the Selling Entities’ par...
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Related to Nonreturnable

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • How Are Distributions from a ▇▇▇▇ ▇▇▇ Taxed for Federal Income Tax Purposes Amounts distributed to you are generally excludable from your gross income if they (i) are paid after you attain age 59½, (ii) are made to your beneficiary after your death, (iii) are attributable to your becoming disabled, (iv) subject to various limits, the distribution is used to purchase a first home or, in limited cases, a second or subsequent home for you, your spouse, or you or your spouse’s grandchild or ancestor, or (v) are rolled over to another ▇▇▇▇ ▇▇▇. Regardless of the foregoing, if you or your beneficiary receives a distribution within the five-taxable-year period starting with the beginning of the year to which your initial contribution to your ▇▇▇▇ ▇▇▇ applies, the earnings on your account are includable in taxable income. In addition, if you roll over (convert) funds to your ▇▇▇▇ ▇▇▇ from another individual retirement plan (such as a Traditional IRA or another ▇▇▇▇ ▇▇▇ into which amounts were rolled from a Traditional IRA), the portion of a distribution attributable to rolled-over amounts which exceeds the amounts taxed in connection with the conversion to a ▇▇▇▇ ▇▇▇ is includable in income (and subject to penalty tax) if it is distributed prior to the end of the five-tax-year period beginning with the start of the tax year during which the rollover occurred. An amount taxed in connection with a rollover is subject to a 10% penalty tax if it is distributed before the end of the five-tax-year period. As noted above, the five-year holding period requirement is measured from the beginning of the five-taxable-year period beginning with the first taxable year for which you (or your spouse) made a contribution to a ▇▇▇▇ ▇▇▇ on your behalf. Previously, the law required that a separate five-year holding period apply to regular ▇▇▇▇ ▇▇▇ contributions and to amounts contributed to a ▇▇▇▇ ▇▇▇ as a result of the rollover or conversion of a Traditional IRA. Even though the holding period requirement has been simplified, it may still be advisable to keep regular ▇▇▇▇ ▇▇▇ contributions and rollover/ conversion ▇▇▇▇ ▇▇▇ contributions in separate accounts. This is because amounts withdrawn from a rollover/conversion ▇▇▇▇ ▇▇▇ within five years of the rollover/conversion may be subject to a 10% penalty tax. As noted above, a distribution from a ▇▇▇▇ ▇▇▇ that complies with all of the distribution and holding period requirements is excludable from your gross income. If you receive a distribution from a ▇▇▇▇ ▇▇▇ that does not comply with these rules, the part of the distribution that constitutes a return of your contributions will not be included in your taxable income, and the portion that represents earnings will be includable in your income. For this purpose, certain ordering rules apply. Amounts distributed to you are treated as coming first from your non-deductible contributions. The next portion of a distribution is treated as coming from amounts which have been rolled over (converted) from any non-▇▇▇▇ IRAs in the order such amounts were rolled over. Any remaining amounts (including all earnings) are distributed last. Any portion of your distribution which does not meet the criteria for exclusion from gross income may also be subject to a 10% penalty tax. Note that to the extent a distribution would be taxable to you, neither you nor anyone else can qualify for capital gains treatment for amounts distributed from your account. Similarly, you are not entitled to the special five- or ten- year averaging rule for lump-sum distributions that may be available to persons receiving distributions from certain other types of retirement plans. Rather, the taxable portion of any distribution is taxed to you as ordinary income. Your ▇▇▇▇ ▇▇▇ is not subject to taxes on excess distributions or on excess amounts remaining in your account as of your date of death. You must indicate on your distribution request whether federal income taxes should be withheld on a distribution from a ▇▇▇▇ ▇▇▇. If you do not make a withholding election, we will not withhold federal or state income tax. Note that, for federal tax purposes (for example, for purposes of applying the ordering rules described above), ▇▇▇▇ IRAs are considered separately from Traditional IRAs.

  • Redundancy Contributions 25.1 The Employer is, and will remain during the life of this Agreement, a member of the Redundancy Payment Approved Worker Entitlement Fund 1 (“Incolink Number 4 Fund”) of which Redundancy Payment Central Fund Ltd ("Incolink") is trustee or an equivalent approved worker entitlement fund that is administered and/or managed by Incolink (the “Nominated Redundancy Fund”). References in this clause to "Nominated Redundancy Fund" include a reference to another fund for comparable purposes nominated by Incolink for the purposes of this Agreement as a fund which supersedes the Incolink Number 4 Fund. 25.2 All Employees of the Employer will be enrolled by the Employer in the Nominated Redundancy Fund and be entitled to Redundancy benefits in accordance with the terms of the relevant Trust Deed. 25.3 The Employer will pay a minimum of $160 to the Nominated Redundancy Fund on behalf of each Employee on a weekly basis (except where Clause 25.4 applies) in accordance with the trust deed or other governing documents, save that if Incolink nominates any other fund under clause 25.1 the Employer will 25.4 Redundancy contributions on behalf of Employees who have entered in to a part-time/job sharing arrangement under clause 14.2 will be pro-rated. For clarity casual Employees are entitled to the full contribution at clause 25.3 above. 25.5 The liability of the Employer to pay redundancy payments to an Employee under this clause will be met by the making of the contributions on behalf of the Employee required as a member of the Nominated Redundancy Fund, or by another fund nominated by Incolink under clause 25.1.

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.