We Owes definition

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 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 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

  • 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.

  • As a further example of the intended operation of the foregoing provisions, if following Closing, Purchaser performs the obligations of a Seller on We Owes pertaining to vehicles sold or serviced by a Seller prior to Closing and if Purchaser did not receive credit against the Asset Purchase Price for such We Owe work, such Seller shall reimburse Purchaser for the costs to perform such work.

  • The purchase price for the Purchased Assets (the “Purchase Price”) shall be the amount listed on Exhibit A as “Base Purchase Price for Dealership Assets,” as adjusted pursuant to Exhibit A, if applicable (the “Base Purchase Price”), plus the value of the RV Inventory (the “Inventory Amount”), plus the aggregate amount of WIP at cost, as audited and approved by Buyer, minus the applicable cost of the We Owes attributable to an applicable Closing (the “We Owes Amount”).

  • 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.

  • 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.
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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. 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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Related to We Owes

  • SADC means the Southern African Development Community;

  • Fortis means Fortis Inc.;

  • ASA means the Auction Settlement Amount (or Cash Settlement Amount, as the case may be) determined under the Credit Default Swap Transaction;

  • LCME means Liaison Committee on Medical Education, an organization that accredits educational institutions granting degrees in medicine and surgery. The board approves programs that are accredited by LCME.

  • Account Information Service Provider means a payment service provider pursuing business activities as referred to in point (8) of Annex I;