Refund Amount definition
Examples of Refund Amount in a sentence
The Refund Amount or Balance Amount, as applicable, shall be due and payable upon final reconciliation but no later than sixty (60) Days after such reconciliation.
Any portion of the Balance Amount or Refund Amount, as applicable, remaining unpaid after that time shall be subject to interest as calculated pursuant to Section 9.1 of this Agreement.
If the Total Payments Made is greater than the total of all Company Reimbursable Costs actually incurred, Company shall reimburse the difference to Developer (“Refund Amount”) or, if applicable, may apply the Refund Amount as contemplated in Section 7.6 of this Agreement.
Please see the example below: Refund Amount = [(All prepaid amounts for the courses being withdrawn from) x (weeks left to be completed / total number of weeks in quarter)] - (non-refundable fees) If the (weeks left to be completed / total number of weeks in quarter) is less than 40%, then no refund is due to the student.
For an example please see below: Refund Amount = All prepaid amounts – (non-refundable fees) Students, who withdraw from the University after the first day of the term, but prior to completion of greater than 60% of the term currently enrolled in, are entitled to a refund on a prorated basis, less the non-refundable fees.