How is Credit Redemption defined in a legal contract?
- Credit Redemption means the act of converting the accumulated credits in a student's academic bank account maintained in an [organization], with the purpose of meeting the credit requirements for the conferment of Degrees, Diplomas, Certificates, or Ph.D. courses, by the accredited higher educational institutions. Seen in 2 SEC filings
- Credit Redemption means the process associated with a predefined allocation of credits having been completed, approved by the customer, and the assigned credits being deducted from the customer's Choice Program credit balance. Seen in 2 SEC filings
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of credit redemption' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Credit Redemption means converting accumulated credits to meet requirements for awards in an [organization].
Relevant Contract Type
Relevant Circumstances
- When a student wishes to utilize their academic credits towards their degree or diploma.
- When an organization runs a program where participants earn and use credits.
Relevant Sectors
Genie Definition 2
Credit Redemption means approval and deduction of allocated credits from a customer’s [program] balance.
Relevant Contract Type
Relevant Circumstances
- When a customer seeks to redeem their accumulated credits in a rewards program.
- Cases where points or rewards are exchanged for goods or services.
Relevant Sectors
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