Credit for Certain Inventories Sample Clauses

Credit for Certain Inventories. At Closing, Seller shall receive a credit (based upon the original net invoice price paid) for (x) all unopened Liquor Inventory owned by 8440 LLC as of the Closing (which Liquor Inventory is not being purchased by Purchaser hereunder but shall be transferred in accordance with the Liquor Assets Escrow Agreement, subject to the post-Closing food and beverage operations agreement referred to in Section 4.2(p)) and (y) all unopened Retail Inventories at the Hotel as of the Closing Date, and Purchaser shall purchase all such unopened Retail Inventories. The amount of such credit shall be based on the actual costs (including without limitation sales tax) paid by Seller (or 8440, as applicable) for the actual inventory of such unopened Liquor Inventory and Retail Inventories by Seller’s and Purchaser’s representatives.
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Credit for Certain Inventories. As of the date immediately prior to the Closing Date, Seller and Buyer shall cause their accountants or managers to jointly conduct an inventory of all Consumable Inventory (including all Retail Inventory) and shall deliver a written report thereon to Seller and Buyer. Such report shall reflect the cost of the Unopened Inventory and the Retail Inventory at the actual acquisition cost thereof (taking into account any applicable discounts or rebates and without any markup whatsoever). On account of Buyer’s purchase of the Consumable Inventory, the Unopened Inventory and the Retail Inventory, Seller shall receive a credit at Closing in an amount equal to the total cost of the Unopened Inventory and the Retail Inventory, as reflected in such report.
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Credit for Certain Inventories. Seller shall receive a proration credit equal to the book value at Closing of the Retail Inventory.
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Credit for Certain Inventories. Seller shall receive a proration credit equal to the book value at Closing of the Food and Beverage Inventory and the Retail Inventory (subject, however, to Section 7.2.2, in the case of the Liquor Inventory).
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Credit for Certain Inventories. As of the date immediately prior to the Closing Date, Seller and Purchaser shall jointly conduct or cause the Manager to conduct an inventory of all (a) Unopened Inventory, and (b) all Retail Inventory in the Hotel gift shop, spa, fitness center or any other area at the Hotel conducting retail sales (excluding areas operated by third parties under a Lease), and shall deliver a written report thereon to Seller and Purchaser. Such report shall reflect the cost of the Unopened Inventory and the Retail Inventory at the acquisition cost thereof. Seller shall receive a credit at Closing in an amount equal to the total cost of the Unopened Inventory attributable to beer, wine and other alcoholic beverages, as reflected in such report, but the remainder of the Unopened Inventory and Retail Inventory shall not result in any adjustment to the Purchase Price at Closing.
Sample 1
Credit for Certain Inventories. Seller shall receive a credit (based upon the original net invoice price paid by it) from Buyer for all full, unopened Inventory (subject, however, to Section 7.2.1, in the case of the Liquor Inventory) transferred to Buyer at Closing. For purposes of the foregoing sentence, an individual container shall not be considered opened if the container itself is not opened but the crate, box or pallet including such container and other similar containers shall have been opened. The amount of such credit shall be based on an actual inventory of such Inventory by Seller’s and Buyer’s representatives.
Sample 1
Credit for Certain Inventories. At Closing, Seller shall receive an aggregate credit in the amount of fifty percent (50%) of the value of the Food and Beverage Inventory as of the Closing Date, as such value is reflected in the financial books of the Hotel; provided, however, in no event shall such credit exceed $60,000.
Sample 1
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Credit for Certain Inventories. As of the date immediately prior to the Closing Date, Seller and Buyer shall jointly conduct or cause Hotel Manager or any joint designee of Buyer and Seller to conduct an inventory of (i) all Inventory and (ii) all Food and Beverage Inventory, in each case, that are unused and in unopened cases (or bottles or jars in the case of Food and Beverage Inventory) and located at the Hotel (“Unopened Inventory”), and shall deliver a written report covering such Unopened Inventory to Seller and Buyer. The parties hereby agree that Seller shall receive a credit for all Unopened Inventory at Closing in the amount of the actual cost paid by Seller for the same. Seller shall not receive a credit at Closing for any other supplies, inventories or personal property.
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Credit for Certain Inventories. Seller shall receive a credit equal to 75% of the book value, as of Closing, of all goods then held by Operator for sale in the lobby gift shop, the spa and the golf pro shop operated within the Hotel in the Ordinary Course. Seller shall receive no credit for the value of the food and beverage inventories existing as of Closing, the price of the same being deemed paid with delivery of the Purchase Price.
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Related to Credit for Certain Inventories

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