Fixed Assets; Inventory Sample Clauses

Fixed Assets; Inventory. The fixed assets of the Company ----------------------- shown on the Financial Statements are valued at or below actual cost less a depreciation charge calculated in accordance with the description contained in the footnotes to the Financial Statements. The values at which the inventories are shown on the Financial Statements have been determined in accordance with the normal valuation policy of the Company, in conformity with generally accepted accounting principles consistently applied throughout the periods covered thereby, with adequate provisions or adjustments for excess inventory, slow-moving inventory and inventory obsolescence and skrinkage and are valued at the lower of cost or realizable value. Except as set forth on Section 4.1(o) of the Disclosure Schedules or in the Financial Statements and the notes thereto, the Company has good and marketable title to all land, buildings, machinery, equipment, fixtures, furnishings, real property improvements and other assets (tangible or intangible) reflected in the Financial Statements or acquired after the Balance Sheet Date, free and clear of all Encumbrances. Schedule 4.1(o) of the Disclosure Schedules contains a complete and accurate list of all real property owned or leased by the Company and a list of each location where the Company maintains a Facility. The Company enjoys peaceful and undisturbed possession of all such real property and all of the buildings, machinery, equipment, fixtures, furnishings, real property improvements (including leasehold improvements) and other tangible assets located thereon, and there are no pending or threatened condemnation proceedings relating to any of the same. To the actual knowledge of the Seller and the Company, all of such buildings, machinery, equipment, fixtures, furnishings, real property improvements (including leasehold improvements) and other tangible assets owned, leased or used by the Company in the conduct of its business are (a) insured to the extent and in a manner customary in the industry in which the Company is engaged, (b) structurally sound with no known material defects, (c) in good
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Fixed Assets; Inventory. Annex B sets forth the book value of each Fixed Asset as of the Closing. All Inventories have been valued at standard cost on a first in, first out basis, reasonably approximating actual cost incurred.
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Fixed Assets; Inventory. Subject to these Security Principles, each Security Provider shall grant Transaction Security (to the extent required under Clause 24.27 ( Conditions subsequent) over its material fixed assets and its material inventory, but it shall be free to deal with those assets and that inventory in the course of its business and in compliance with the Finance Documents until an Acceleration Event has occurred. No notice whether to third parties or by attaching a notice to the fixed assets or inventory or otherwise shall be prepared or given unless an Acceleration Event has occurred and the Security Agent (acting on the instructions of the Majority Lenders) so requests for such notice to be prepared and given. If required under local law, Transaction Security over fixed assets or inventory will be registered subject to the general principles set out in these Security Principles.
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Fixed Assets; Inventory. (a) Schedule 3.17(a) is a list as of September 30, 2001 of all ---------------- of the fixed assets used in the business of the Company (the "Fixed Assets"), ------------ other than any Fixed Asset the replacement cost of which would be less than $5,000 and which is not of material importance to the Company's operations. The Fixed Assets used by the Company as of the date hereof (a) are in good working order and condition, ordinary wear and tear excepted, (b) have been properly maintained, (c) are suitable for the uses for which they are being utilized in the Company's business, (d) do not require more than regularly scheduled maintenance in the ordinary course, consistent with the Company's established maintenance policies, to keep them in good operating condition, (e) comply with all requirements under applicable laws, regulations and licenses which govern the use and operation thereof, and (f) are all the material assets necessary for the Company's business as presently conducted.
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Fixed Assets; Inventory. Seller will not dispose of or acquire any ----------------------- Fixed Assets or any merchandise inventory, except in the ordinary course of business or inventory that is not carried on Seller's books. Seller will confine its purchase of merchandise and supplies to such quantity as is reasonably appropriate to the conduct of the Stores as going concerns in the normal course of Seller's business, unless otherwise agreed in writing by Buyer and Seller.
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Related to Fixed Assets; Inventory

  • Fixed Assets 7 3.11. Leases ............................................................. 8 3.12. Change in Financial Condition and Assets ........................... 8

  • Inventory To the extent Inventory held for sale or lease has been produced by any Borrower, it has been and will be produced by such Borrower in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder.

  • Eligible Inventory As to each item of Inventory that is identified by any Borrower as Eligible Inventory in a Borrowing Base Certificate submitted to Agent, such Inventory is (a) of good and merchantable quality, free from known defects, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than Agent-discretionary criteria) set forth in the definition of Eligible Inventory.

  • Accounts Receivable; Inventory (a) For each Account with respect to which Advances are requested, on the date each Advance is requested and made, such Account shall be an Eligible Account.

  • Accounts and Inventory Each Account or item of Inventory which Borrower shall, expressly or by implication, request Lender to classify as an Eligible Account or as Eligible Inventory, respectively, shall, as of the time when such request is made, conform in all respects to the requirements of such classification as set forth in the respective definitions of "Eligible Account" and "

  • Accounts Receivable; Inventories The accounts and notes receivable which are reflected on the Final Closing Balance Sheet are good and collectible in the ordinary course of business at the aggregate recorded amounts thereof, less the amount of the allowance for doubtful accounts reflected thereon, and are not subject to offsets. The accounts and notes receivable of the Company which were thereafter added and which will be reflected on the Final Closing Balance Sheet are good and collectible in the ordinary course of business at the aggregate amounts recorded in its books of account, less the amount of the allowance for doubtful accounts reflected thereon (which allowance was established on a basis consistent with prior practice), and are not subject to offsets. The inventories reflected on the Audited and Unaudited Balance Sheets, and thereafter added, as reflected on the Closing Date Balance Sheet, consist of items of a quality and quantity usable or saleable within one year (except as set forth on Schedule 5.7) in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which have been written down to net realizable value or adequately reserved against on the books and records of the Company. To the extent there is inventory not listed on Schedule 5.7 of a quality and quantity not usable or saleable in the ordinary course of business within one year, in lieu of a claim for indemnification, Buyer shall sell and the Selling Shareholders shall purchase such items of inventory at the value carried on the Final Closing Balance Sheet. All inventories not written off are stated at the lower of cost or market.

  • Equipment and Inventory With respect to any Equipment and/or Inventory of an Obligor, each such Obligor has exclusive possession and control of such Equipment and Inventory of such Obligor except for (i) Equipment leased by such Obligor as a lessee or (ii) Equipment or Inventory in transit with common carriers. No Inventory of an Obligor is held by a Person other than an Obligor pursuant to consignment, sale or return, sale on approval or similar arrangement.

  • As to Equipment and Inventory The Grantor hereby agrees that it shall

  • Location of Equipment and Inventory All Equipment and Inventory are (i) located at the locations indicated on Schedule 4 (ii) in transit to such locations or (iii) in transit to a third party purchaser which will become obligated on a Receivable to the Debtor upon receipt. Except for Equipment and Inventory referred to in clauses (ii) and (iii) of the preceding sentence, the Debtor has exclusive possession and control of the Inventory and Equipment.

  • Inventories The Operator shall maintain detailed records of Controllable Material.

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