Updated Quote definition
Examples of Updated Quote in a sentence
After completing a preliminary inspection of the Defective Product, Innovatus shall notify you of the recommended course of action for repair or exchange of the Defective Product and if necessary, provide you with an Updated Quote reflecting any modifications, additions, or reductions to the Preliminary Quote.
If an Updated Quote is issued by Innovatus, such Updated Quote shall supersede the Preliminary Quote and any related previously issued Updated Quotes in all respects and the Preliminary Quote and any related previously issued Updated Quotes shall have no further force or effect, unless otherwise set forth in the newly issued Updated Quote.
In the event that the cleared funds received from the Customer exceed the amount set out in the Flow of Fund Procedures, the Initial Quote or the Updated Quote, as applicable, Layer2 shall return the excess funds to the Customer in accordance with the instructions provided by the Customer and the Customer shall bear and be responsible for any transaction fees applicable to the return of such excess funds.
The Updated Quote will then supersede the original Quote and you will be liable to pay our Fees and Costs in accordance with the Updated Quote.
In a Real-Time Quote arrangement, a Payment Transaction will commence only where the Customer has provided complete Directions and the full amount of the Payment Transaction Funds have been deposited with Layer2 or a Layer2 Party, in accordance with the initial Flow of Fund Procedures, the Initial Quote or the Updated Quote, as applicable.
In the event of a change in the price set forth in any Preliminary Quote or subsequently issued Updated Quote, Innovatus shall issue an additional Updated Quote with updated pricing.
Innovatus also reserves the right to alter the pricing or other terms quoted in the Preliminary Quote or any subsequent related Updated Quote for any reason including, without limitation, the availability of parts, the need to purchase proprietary components, the need to produce components, or additional work and charges resulting from the Defective Product being altered or previously repaired (including products that no longer contain all original OEM parts).
Layer2 shall use commercially reasonable efforts to meet all published or otherwise communicated delivery times but shall not be liable for any direct or indirect losses or damages resulting from a failure to deliver the Payment Delivery Funds to the Recipient within the time provided in the Flow of Fund Procedures, Initial Quote, or the Updated Quote, as the case may be.