We Owes definition

We Owes means a promise by the Seller to a customer for the delivery of goods or services in the future.
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We Owes means any obligations of any Dealership relating to (i) parts, accessories, or services due a customer where the Dealership has taken one or more of the following actions: (A) promised in writing on a Delivery Receipt/Accessories Due Form (or similar form) such part, accessory, service, or repair to the customer at the time of vehicle purchase; (B) received payment from a customer for a part or accessory order that is not in stock; or (C) scheduled a future repair for a customer and received payment for the repair in advance or (ii) any Marketing Program.
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We Owes as used in this Agreement refers to the obligations made by a Seller to a customer to deliver to the customer additional products or services not available or delivered at the time of the sale of the vehicle. Sellers shall deliver to Purchaser at Closing a schedule of all such obligations along with reasonable supporting documentation substantiating the We Owes and Sellers’ projected actual cost to perform the same. Following Closing, Purchaser shall perform the obligations of the applicable Seller on We Owes pertaining to vehicles sold or serviced by such Seller prior to Closing. To the extent Purchaser has not received credit against the Asset Purchase Price for We Owe work, then if Purchaser performs the same and makes a claim therefor against Sellers within one (1) year following with Closing Date (which claim shall be in writing and supported by reasonable documentation evidencing the We Owes as to which such claim is made, and the actual costs incurred by Purchaser in performing the same), Sellers shall reimburse Purchaser within thirty (30) days after such written demand for the actual costs incurred by Purchaser in performing such We Owes; and
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Examples of We Owes in a sentence

  • In order to participate in this Offer, such shareholders must submit their physical certificate(s), or indicate Shares which are held in DRS book-entry form, along with the Letter of Transmittal to the Depositary at the address listed on the cover of this Letter of Transmittal.

  • Seller agrees to reimburse Buyer for the cost of Seller's "We Owes" accumulated prior to Closing and performed by the Buyer after Closing.

  • All We Owes shall be listed on Schedule 18(d)(i) and All Work In Process shall be listed on Schedule 18(d)(ii).

  • Seller agrees to reimburse Buyer for the cost of Seller's We Owes accumulated prior to Closing and performed by the Buyer after Closing.


More Definitions of We Owes

We Owes is a term of art in the automobile dealer industry and its meaning for purposes of this Agreement shall be the same as it is used in such industry. Buyer agrees to pay Seller for the reasonable value of its Work In Process (at Seller's cost for parts and labor) accumulated prior to Closing. All We Owes shall be listed on Schedule 18(d)(i) and All Work In Process shall be listed on Schedule 18(d)(ii).
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We Owes is a term of art in the automobile dealer industry and its meaning for purposes of this Agreement shall be the same as it is used in such industry.
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Related to We Owes

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