Common use of Obsolete Inventory Clause in Contracts

Obsolete Inventory. At the end of every quarter Flextronics shall report the Obsolete Inventory. LumiraDx’s failure to object to Flextronics’s Obsolete Inventory report (or failure to deny its responsibility for such inventory) shall constitute its acceptance of Flextronics’s Obsolete Inventory report. After a validation period, which shall not exceed [***] from the date of such report, LumiraDx shall purchase the Obsolete Inventory at a price equal to (as applicable) [***]. For any Obsolete Inventory that is not purchased by LumiraDx, LumiraDx shall pay Flextronics a carrying cost fee equal to [***].