Eligible Refund definition

Eligible Refund means a refund related to overpayment of Taxes with respect to a Pre-Closing Taxable Period, but only to the extent that such refund would be available, determined without giving effect to the consummation of the transactions contemplated by this Agreement (including without giving effect to any deductions attributable to the Vested Options and amounts required to be paid at the Closing under the management transaction incentive plan and other arrangements described on Section 1.1(a) of the Schedule of Exceptions).
View Source
Eligible Refund. The Aviation Flight program uses an activity-based billing method which charges the student as they attempt a flight lesson or classroom course. The refund calculation is calculated based on that billing method and will use the actual charges incurred for flight hours and the percentage of time attended vs. time scheduled for classroom, at the time the student withdraws. Example: Activity based billing method No refund of charges will apply to Flight/Sim hours since the billing method is calculated with actual activity-based charges, however Classroom hours may be prorated based on percentage of time attended. Flight/Sim Hour charges $6,250 Ground Classroom charges (50% Attended) 600 *50%= 300 The refund calculation is based on the academic Year (payment period). The above calculations are performed on an academic year (payment period) basis as determined by the date period in which a student withdrew. All charges are based on the student’s contract price of the program. Exclusive of books, tools, and supplies The policy for granting credit for previous training will not impact the refund calculation. Distance Education courses are calculated based on the Weighted attendance pro rata (time-based) method.
View Source

Examples of Eligible Refund in a sentence

  • Example: Course Total 25 Days Attended 5 Days Pro Rata Ratio 20% Tuition, Fees, and Qualifying Cost $2500.00 Eligible Refund Amount $2000.00 The refund ratio is reliant on the academic time completed, if the student completed 31% of the Academic Year (Payment Period), then 31% of the cost will be retained.

  • In addition to the foregoing, Buyer shall use commercially reasonable efforts to, and shall cooperate with the Seller Representative to, file or cause to be filed any Tax Returns (including any amended Tax Returns) for the Pre-Closing Taxable Period to the extent necessary to obtain any Eligible Refund.

  • Buyer shall pay over to the Seller Representative the amount of any Eligible Refund (net of any expenses incurred by Buyer to obtain such refund pursuant to this Section 5.11(c)) within ten (10) days after receipt thereto; provided, that Buyer shall not be required to pay over to the Seller Representative any Eligible Refund after the fifth anniversary of the Closing Date.

  • If subsequent to Closing Purchaser receives any refund of ad valorem taxes assessed against any of the Properties paid by Seller and attributable to the period prior to the Closing (said refund hereafter called "Eligible Refund"), Purchaser shall promptly pay any tenant any sum to which said tenant is entitled and pay the balance of the Eligible Refund to Seller.