Inventory Valuation Methodology Sample Clauses

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Inventory Valuation Methodology. The following conventions shall apply to the identification and valuation of the Inventory, the Closing Inventory and the Nonqualifying Closing Inventory: (i) the Preliminary Estimate shall be based on Seller’s customary Inventory report prepared by Seller as of two business days or less of Closing and delivered to Purchaser prior to Closing, the value for which shall be based on Seller’s Cost as contained in such report; (ii) the Closing Inventory and Nonqualifying Closing Inventory shall be based on the joint physical inspection of the Inventory by Purchaser and Seller, (iii) Purchaser’s proposed final valuation shall include verified Seller’s Cost information for each item of Inventory and also shall include Inventory which has been prepaid by Seller and received after the Closing; (iv) the Closing Inventory shall not include “return to vendor” or repair items; (v) the value of any Inventory acquired by Purchaser following the Closing Date (including customer returns) shall not be included in the Inventory Value; and (vi) Inventory value, other than Nonqualifying Closing Inventory, shall be based on Seller’s historical costing method as verified by Purchaser (“Seller’s Cost”), unless Seller, in its sole discretion, agrees to a lesser value, in which event the lesser value shall become the “Seller’s Cost.” The parties shall bear their own expenses in the valuation of the Inventory, the Nonqualifying Closing Inventory and Closing Inventory.
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Inventory Valuation Methodology. The parties agree that, for all purposes under this Agreement, and notwithstanding any other term of this Agreement, the methodology for valuing and expensing Purchased Inventories as well as future Inventories of Buyer shall be consistent with Seller’s past practice as shown on Section 6.7 of the Disclosure Schedule. Accordingly, Buyer hereby waives any and all claims against Seller and Shareholder arising from or related to Seller’s use of such methodology, including but not limited to claims regarding whether such methodology complies with the requirements of GAAP.
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Inventory Valuation Methodology. For the purposes of this agreement, each accounting term used herein will have the meaning that is applied thereto in accordance with GAAP (“GAAP”) as of the date of this Agreement and, to the extent consistent with GAAP, the accounting principles, policies, procedures and methodologies applied in preparing the Financial Statements. The final Inventory will be calculated in accordance with GAAP as in effect on the date of this Agreement and, to the extent consistent with GAAP, the accounting principles, policies, procedures and methodologies applied in preparing the preparation of the Financial Statements, including without limitation with respect to the nature or classification of accounts and determining levels of reserves or levels of accruals, except as modified by the definitions herein.
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Inventory Valuation Methodology. The Other Inventory Value, Finished Goods Cost Basis and Packaging Materials Cost Basis shall be determined as follows: (i) the Seller and Buyer jointly shall conduct a physical count of the Inventory on the Closing Date, and (ii) the Seller shall value the Other Inventory, Finished Goods Inventory and Packaging Materials Inventory in accordance with the method set forth on Schedule 2.3(b) hereof, notwithstanding that such method may not be in accordance with generally accepted accounting principles.
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Related to Inventory Valuation Methodology

  • Methodology 1. The price at which the Assuming Institution sells or disposes of Qualified Financial Contracts will be deemed to be the fair market value of such contracts, if such sale or disposition occurs at prevailing market rates within a predefined timetable as agreed upon by the Assuming Institution and the Receiver. 2. In valuing all other Qualified Financial Contracts, the following principles will apply:

  • Annual Valuation The Trust shall annually, at least 30 days prior to the anniversary date of establishment of the Fund, furnish to the Grantor and to the Agency a statement confirming the value of the Trust. Any securities in the Fund shall be valued at market value as of no more than 60 days prior to the anniversary date of establishment of the fund. The failure of the Grantor or the Agency to object in writing to the Trustee within 90 days after the statement has been furnished to the Grantor and the Agency shall constitute a conclusively binding assent by the Grantor, barring the Grantor from asserting any claim or liability against the Trustee with respect to matters disclosed in the statement.

  • Balance Computation Method For all accounts, dividends are calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. Dividends will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account if deposited before the close of business. If you close any of your dividend earning accounts before dividends are credited you may not receive the accrued dividends up to the date of account closure.

  • Underwriting Methodology The methodology used in underwriting the extension of credit for each Mortgage Loan employs objective mathematical principles which relate the related Mortgagor's income, assets and liabilities to the proposed payment and such underwriting methodology does not rely on the extent of the related Mortgagor's equity in the collateral as the principal determining factor in approving such credit extension. Such underwriting methodology confirmed that at the time of origination (application/approval) the related Mortgagor had a reasonable ability to make timely payments on the Mortgage Loan;