Qualified Returned Product definition

Qualified Returned Product means a product that is (A) shipped by the Company to a customer of the Company or directly by the Company to an end user prior to the Closing Date, (B) recognized as revenue by the Company prior to the Closing Date and (C) returned to the Surviving Company or Parent (whether for a refund or taken as a deduction from amounts due to the Surviving Company or Parent) on or before the Indemnification Cut-Off Date by an end user (excluding any such returns for repair of a product), or by a customer of the Company following a return by an end user, in accordance with and pursuant to the terms and conditions of an applicable Contract entered into by the Company on or prior to the Closing Date. Notwithstanding the foregoing and for the avoidance of doubt, Qualified Returned Products shall include: (x) products that are returned by any Person as a result of a product defect or other customer satisfaction issue; (y) products that are returned by any customer identified in Schedule 7.15(d) for any reason, including products that are returned as a result of a product defect, customer satisfaction issue, stock rebalancing, excess inventory, guaranteed sales or similar reasons; or (z) products returned by any customer other than a customer identified in Schedule 7.15(d) as a result of stock rebalancing, excess inventory, guaranteed sales or similar reasons not related to a product defect, provided, however, that a product return shall constitute a Qualified Product Return under this subsection (ii)(z) only to the extent that the aggregate gross sales price for all product returns under this subsection (ii)(z) is less than or equal to $348,000.
Sample 1

Related to Qualified Returned Product

  • valid return means a return furnished under sub-section (1) of section 39 on which self-assessed tax has been paid in full;

  • Combined Return means any Tax Return (other than for Federal Income Taxes) filed on a consolidated, combined (including nexus combination, worldwide combination, domestic combination, line of business combination or any other form of combination) or unitary basis wherein Holdings or one or more Holdings Affiliates join in the filing of such Tax Return (for any taxable period or portion thereof) with Continental or one or more Continental Affiliates.

  • Pre-Distribution Tax Period means any taxable period (or portion thereof) that ends on or before the Distribution Date.

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Combination Product means any product that comprises a Licensed Compound or Licensed Product sold in conjunction with another active component so as to be a combination product (whether packaged together or in the same therapeutic formulation).

  • Post-Closing Straddle Period means the portion of a Straddle Period beginning the day after the Closing Date.

  • Pre-Closing Straddle Period means the portion of a Straddle Period ending on the Closing Date.

  • Tax Period means, with respect to any Tax, the period for which the Tax is reported as provided under the Code or other applicable Tax Law.

  • Gross alpha particle activity means the total radioactivity due to alpha particle emission as inferred from measurements on a dry sample.

  • Normal distribution channel means a chain of custody for

  • Terminated Product has the meaning set forth in Section 13.5.

  • Domestic end product as used in this clause, means, (1) an unmanufactured end product mined or produced in the United States, or (2) an end product manufactured in the United States, if the cost of its components mined, produced, or manufactured in the United States, exceeds 50 percent of the cost of all its components. Components of foreign origin of the same class or kind as the products referred to in paragraphs (b)(2) or (3) of this clause shall be treated as domestic. Scrap generated, collected, and prepared for processing in the United States is considered domestic.

  • Roll-on product means any antiperspirant or deodorant that dispenses active ingredients by rolling a wetted ball or wetted cylinder on the affected area.

  • Minor source baseline date means the earliest date after the trigger date on which a major stationary source or a major modification subject to 40 CFR 52.21 or to regulations approved pursuant to 40 CFR 51.166 submits a complete application under the relevant regulations. The trigger date is:

  • Assumed Final Distribution Date The Distribution Date in July 2036.

  • Nondesignated country end product means any end product that is not a U.S.-made end product or a designated country end product.

  • Section 385 Expanded Group shall have the meaning set forth in Treasury Regulation Section 1.385-1(c)(4) for an “expanded group”.

  • Allowable emissions means the emission rate of a stationary source calculated using both the maximum rated capacity of the source, unless the source is subject to federally enforceable limits which restrict the operating rate or hours of operation, and the most stringent of the following:

  • Joint Return means any Return of a member of the Parent Group or the SpinCo Group that is not a Separate Return.

  • Hypothetical Tax Liability means, with respect to any Taxable Year, the Hypothetical Federal Tax Liability for such Taxable Year, plus the Hypothetical Other Tax Liability for such Taxable Year.

  • WTO GPA country end product means an article that—

  • Tobacco product means any substance containing tobacco leaf, including but not limited to, cigarettes, cigars, pipe tobacco, hookah tobacco, snuff, chewing tobacco, dipping tobacco, bidis, blunts, clove cigarettes, or any other preparation of tobacco; and any product or formulation of matter containing biologically active amounts of nicotine that is manufactured, sold, offered for sale, or otherwise distributed with the expectation that the product or matter will be introduced into the human body by inhalation; but does not include any cessation product specifically approved by the U.S. Food and Drug Administration for use in treating nicotine or tobacco dependence.

  • Straddle Period means any taxable period beginning on or before the Closing Date and ending after the Closing Date.

  • Combination Products means any product containing both a pharmaceutically active agent or ingredient which constitutes a Licensed Product and one or more other pharmaceutically active agents or ingredients which do not constitute Licensed Products.

  • Least developed country end product means an article that—

  • Pre-Distribution Period means any Tax Year or other taxable period that ends on or before the Distribution Date and, in the case of any Straddle Period, that part of the Tax Year or other taxable period through the end of the day on the Distribution Date.