Materials Inventory. Contractor shall:
Materials Inventory. Seller will perform a physical inventory of Materials each April and October during each year of the Term and upon termination of this Agreement in order to reconcile (i) the actual cost of Materials utilized in the production of Product delivered to Purchaser during the period (the "Inventoried Period") since the last such inventory (or since the start of the Term if no such prior inventory has been performed) and (ii) the amount paid by Purchaser therefor.
Materials Inventory. Eighty–five percent (85%) of the product of the Appraised Liquidation Percentage multiplied by the sum of (i) the gross cost of all work-in-process and raw materials inventory owned by the Borrower and Xxxxxxxxx Xxxxx GmbH and, with respect to such inventory owned by Xxxxxxxxx Xxxxx GmbH, is located in the United States minus (ii) the ZUG Allocation applicable to such inventory; plus
Materials Inventory. LSO shall be authorized to purchase and maintain raw materials, consumables, and component inventory necessary to build product to the forecast referenced in Section 6. The timing and quantities of the orders will be discussed in advance with the Buyer and shall generally be based on material lead-times, pre-defined inventory on-hand stocking levels, minimum purchase quantities imposed by suppliers, volume price breaks offered by suppliers, and the Product forecast referenced in Section 6. LSO will request from Buyer written authorization to purchase long lead or high cost inventory to be held as safety stock. Upon termination or cancellation of this Agreement, or upon planned obsolescence of specific materials or components by the Buyer, Buyer shall purchase from LSO, at LSO’s cost plus agreed upon mxxx up, any unused inventory and any inventory held as safety stock as long as it was purchased, stored, and used in accordance with this agreement. LSO will provide Buyer with inventory levels at the completion of all scheduled production builds. LSO will not deviate from the Buyer’s approved supplier list without prior written agreement from Buyer. LSO will store and use materials in a First-In-First-Out (FIFO) manner to ensure the oldest materials are consumed first. In order to insure the continuing availability of the Buyer’s components and raw materials, LSO shall use its commercially reasonable best efforts to implement and utilize a material planning system and process that meets generally accepted industry standards. For any materials LSO purchases, LSO agrees to notify Buyer within one (1) business day from the time it is suspected that a material shortage may occur in tire future. If LSO procures materials for the Buyer, the cost (i.e. mxxx up) for this service will be 15% of the purchased material cost. This markup covers planning activities related to procurement, actual procurement activities, receipt of materials, incoming inspection of materials and off-the-shelf components requiring
Materials Inventory. Supplier shall be responsible for obtaining, and shall store at no cost to Customer, any and all raw materials and inventory reasonably required for the manufacture of Products in quantities and timing consistent with the order quantities and delivery schedules herein. Without excusing any breaches by Supplier or limiting any remedies of Customer for breach by Supplier, Supplier shall provide Customer with as much notice as possible if Supplier anticipates or has reason to believe that Supplier’s output of Products will not be sufficient to meet the order quantities and delivery schedules therefor.
Materials Inventory. Materials Inventory shall constitute an Excluded Asset and any commitments made by Seller with respect to Materials Inventory shall constitute an Excluded Liability and shall remain Seller’s sole responsibility; provided, that, for a period of fifteen months following Closing, Buyer will, as Materials Inventory is ordered by and shipped to customers, invoice customers on Seller’s behalf and shall use commercially reasonable efforts to collect on Seller’s behalf the proceeds of sales of Materials Inventory (“Materials Inventory Proceeds”) . Buyer shall use its usual, ordinary course procedures (or, at Buyer’s discretion, the procedures used by Seller before Closing) with respect to such invoicing and collection activities, and shall in no event be obligated to put forth any effort with respect to the collection of Materials Inventory Proceeds that it would not put forth with respect to the collection of Buyer’s own accounts receivable. Buyer shall in no event have any liability to Seller with respect to (i) any failure to collect Materials Inventory Proceeds or (ii) any act or omission in connection with the collection of Materials Inventory Proceeds. Buyer will pay to Seller the Materials Inventory Proceeds monthly following receipt by Buyer thereof, less a monthly fee of $1,000.00. The payment will be made by the 15th of the following month for the previous month. To the extent that Materials Inventory Proceeds for a particular month are less than $1,000, Buyer will invoice Seller for the difference between $1,000 and the amount of Materials Inventory Proceeds for such month and Seller will pay such amount to Buyer promptly upon receipt of such invoice. Following Closing, Buyer will be solely responsible for making commitments for packaging and shipping materials inventory, for managing such inventory, for invoicing customers with respect thereto and for payment to applicable third parties.
Materials Inventory. All inventory of raw ----------------------- materials (the "Raw Materials Inventory" and, together with the Finished Goods Inventory and the Work-in-Process Inventory, the "Inventory");
Materials Inventory. Peak shall be authorized to purchase inventory and maintain levels needed to support open purchase order(s). Such material inventory schedule shall be based on material lead-times, reasonable inventory on-hand stocking levels, MPQ’s. Peak may periodically request from Aksys written authorization to purchase certain long lead time items to be held in inventory, as safety stock or to meet anticipated manufacturing requirements (Special Inventory). Authorization can be in the form of an e-mail or other written communication from Aksys. Upon termination or cancellation of this Agreement, Aksys shall purchase from Peak, at Peak’s burdened cost, any unused inventory. With respect to materials controlled by a Peak Supplier Managed Inventory Agreement, Peak will not take title to inventory faster on behalf of Aksys than it would on its own behalf.
Materials Inventory. LSO shall be authorized to purchase inventory and maintain inventory with reference to any particular order(s). Such material inventory schedule shall be based on material lead-times, reasonable inventory on-hand stocking levels, MPQ’s. LSO will request from Buyer written authorization to purchase long lead and any inventory held as safety stock time items to be held in inventory, as safety stock or to meet anticipated manufacturing requirements. Upon termination or cancellation of this Agreement, Buyer shall purchase from LSO, at LSO’s cost plus agreed upon xxxx up, any unused inventory and any inventory held as safety stock which was purchased on Buyers behalf as agreed upon by both parties. Any such safety stock purchased on Buyers behalf on hand for 6 (six) months without a manufacturing order, such safety stock will be considered cancelled unless prior agreement has been made by Buyer and LSO due to minimum buy levels of material. LSO will provide Buyer with LSO procured inventory levels and value by Buyer part number by product and value on the last shipping day of the month. LSO will also supply Buyer with current inventory levels by Buyer part number and value of Buyers consigned inventory on the last shipping day of the month.
Materials Inventory. Peptisyntha shall be authorized to purchase inventory not otherwise normally stocked by Peptisyntha (“Special Inventory”) and maintain levels needed to satisfy outstanding Production Orders and Production Orders anticipated by Helix as to which Helix notifies Peptisyntha. Such material inventory schedule shall be based on material lead-times, reasonable inventory on-hand stocking levels and minimum purchase quantities. Any Special Inventory in excess of such amounts may be obtained by Peptisyntha only upon written authorization from Helix. Upon termination or cancellation of this Agreement, Helix shall purchase from Peptisyntha at Peptisyntha’s burdened cost, any unused Special Inventory obtained by Peptisyntha in accordance herewith.
