Required Refunds Clause Samples
The Required Refunds clause obligates one party to return payments or deposits to the other party under certain specified circumstances. Typically, this clause outlines the conditions under which a refund must be issued, such as cancellation of services, failure to deliver goods, or breach of contract. By clearly defining when and how refunds are to be processed, the clause protects both parties by ensuring financial fairness and reducing disputes over returned funds.
Required Refunds. In the event CybSafe is obligated to refund fees under the terms of the ▇▇▇▇, CybSafe shall refund the applicable amount to the Authorized Distributor and Reseller shall promptly refund to Customer the corresponding applicable proportionate amount based on the fees Customer paid to Reseller. In such event, the Customer’s right to use the refunded Services shall terminate.