Common use of Rebate Program Clause in Contracts

Rebate Program. 1. To the extent any Class member loses faith in their Class Vehicle as a result of this Settlement, the Class member may present a claim for a rebate after selling the Class Vehicle in an arm’s length transaction provided that: a. The Class member (a) experienced an engine failure or engine compartment fire, and (b) purchases a replacement Hyundai vehicle (for Hyundai Class members) or Kia vehicle (for Kia Class members); b. A Claim is submitted within 90 days of the Final Approval Order; c. The Claim contains a completed Claim Form; d. The Claim contains a statement under oath that the Claimant lost faith in the Class Vehicle; e. The Claim contains a proof of sale or trade-in and value received for sale or trade-in; f. The Claim contains proof of purchase of a replacement Hyundai or Kia vehicle. 2. This rebate is also available to any Class member who, after the Notice Date, experiences an engine failure or fire in a Class Vehicle, loses faith in their Class Vehicle, and completes all other steps to qualify for the rebate, including the purchase of a replacement Hyundai or Kia vehicle, provided that the Class member submits a Claim within 90 days of the engine failure or fire. 3. The amount of the rebate shall be calculated as actual loss by comparing sales documentation to the maximum Black Book value (i.e., private party/very good) of the Class Vehicle at the time of the Knock Sensor Detection System campaign launch up to the following amounts: a. For model year 2011-2012 Class Vehicles: $2,000 b. For model year 2013 and 2014 Class Vehicles: $1,500 c. For model year 2015 and 2016 Class Vehicles: $1,000 d. For model year 2017, 2018, and 2019 Class Vehicles: $500

Rebate Program. 1. To the extent any Class member loses faith in their Class Vehicle as a result of this Settlement, the Class member may present a claim for a rebate after selling the Class Vehicle in an arm’s length transaction provided that: a. The Class member (a) experienced an engine failure or engine compartment fire, and (b) purchases a replacement Hyundai vehicle (for Hyundai Class members) or Kia vehicle (for Kia Class members); b. A Claim is submitted within 90 days of the Final Approval OrderNotice Date; c. The Claim contains a completed Claim Form; d. The Claim contains a statement under oath that the Claimant lost faith in the Class Vehicle; e. The Claim contains a proof of sale or trade-in and value received for sale or trade-in; f. The Claim contains proof of purchase of a replacement Hyundai or Kia vehicle. 2. This rebate is also available to any Class member who, after the Notice Date, experiences an engine failure or fire in a Class Vehicle, loses faith in their Class Vehicle, and completes all other steps to qualify for the rebate, including the purchase of a replacement Hyundai or Kia vehicle, provided that the Class member submits a Claim within 90 days of the engine failure or fire. 3. The amount of the rebate shall be calculated as actual loss by comparing sales documentation to the maximum Black Book value (i.e., private party/very good) of the Class Vehicle at the time of the Knock Sensor Detection System campaign launch up to the following amounts: a. For model year 2011-2012 Class Vehicles: $2,000 b. For model year 2013 and 2014 Class Vehicles: $1,500 c. For model year 2015 and 2016 Class Vehicles: $1,000 d. For model year 2017, 2018, and 2019 Class Vehicles: $500