Product Inventory Clause Samples

Product Inventory. DISTRIBUTOR agrees to keep in inventory a representative grouping of Products.

Product Inventory. Upon expiration or termination of this Agreement (other than pursuant to Section 12.2 for a material breach by Sub-Distributor), notwithstanding anything herein to the contrary, Sub-Distributor may, where permitted by Applicable Law, sell the Product then in its inventory for a period of [***] thereafter (the “Sell-Off Period”), all in accordance with the terms of this Agreement. Notwithstanding the foregoing, Vertical shall, at its sole option, have the right to repurchase during the Sell-Off Period unsold Product in inventory, with a shelf-life of at least[***], at the Transfer Price paid by Sub-Distributor for such unsold Product. Promptly after the expiration of the Sell-Off Period, Sub-Distributor will, at its cost, destroy any unsold Product remaining in its inventory and will provide appropriate evidence of such destruction to Vertical or, at Vertical’s request, will return such inventory to Vertical at Vertical’s cost. Unless the Parties otherwise agree, any pending purchase orders placed by Sub-Distributor which were accepted by Vertical prior to such termination or expiration shall be deemed cancelled without liability to Sub-Distributor.

Product Inventory. Subject to MATRITECH's fulfillment of its supply obligations, CYTOGEN shall be responsible for maintaining adequate inventory of Product to meet consumer demand.

Product Inventory. A designer is required to go out to the existing space and assess/inventory the existing furniture layout and products. A drawing and specification list of the existing furniture layout is required prior to beginning a reconfigure. i. If the original design was completed by the Contracted Supplier or Authorized Dealer and they have the drawings/design on file, the Authorized Dealer shall verify the existing layout against the drawings then update the drawings to verify we have an accurate design/layout/count of existing products prior to beginning the new design. ii. If the original design was not completed by the Contracted Supplier or Authorized Dealer or they don’t have drawings/design on file, then the Authorized Dealer shall need to create a new set of drawings that reflect the current furniture layout prior to beginning the new design.

Product Inventory. During the term of this Agreement, (i) Procaps shall maintain reasonable inventory levels of the Product at a level equal to at least the amount of Product forecasted to be needed for the following two calendar quarters as set forth in the then current Marketing and Distribution Plan and (ii) Galectin Therapeutics shall maintain reasonable inventory levels of the Compound at a level equal to at least the amount of Compound forecasted to be needed for the following calendar quarter as set forth in the then current Marketing and Distribution Plan.

Product Inventory. (i) Within ninety (90) days following the Closing, Buyer and Sellers shall make a joint determination of the actual Product Inventory levels (calculated in barrels on a product-by-product basis) of the Companies as of the Effective Time (“Actual Product Inventory”). (ii) If the Actual Product Inventory is greater than or equal to the Product Inventory Floor, then no inventory adjustment will be required under this subsection (c). (iii) If the Actual Product Inventory is less than the Product Inventory Floor, then an inventory adjustment analysis will be required and an adjustment payment shall be payable by Sellers to Buyer equal to the positive amount determined as follows: Product Less Actual Less Net Applicable Times Weighted Inventory Product Product Inventory OPIS Floor Inventory Receivables Price (BBLS) (BBLS) Volume (BBLS) (iv) For purposes of this subsection (c), the following terms will have the meanings prescribed below:

Product Inventory. Coaches may not carry an inventory of OPTAVIA products for resale (including but not limited to resale to other Coaches). All products are direct-shipped from the Company to the buyer. Therefore, Coaches should not purchase more products in a month than they and/or their family can reasonably expect to consume during the month.

Product Inventory. Prior to Closing, Seller shall ensure that the quantities of finished Product set forth on Section 5.8 of the Seller Disclosure Schedule are available at Closing.

Product Inventory. Licensor shall have the right to purchase from Licensee all or part of the inventory of the Products held by Licensee or its Affiliates as of the effective date of termination at a price equal to Licensee’s fully burdened manufacturing cost. Licensor shall notify Licensee whether Licensor elects to exercise such right within thirty (30) days after the effective date of termination. If Licensor does not exercise such right to purchase all such inventory, then Licensee shall have the right to continue to sell any remaining inventory of the Products, for a period of no more than one (1) year after the date of termination, provided that Licensee continues to pay Licensor royalties on the Net Sales of the Product sold after termination in accordance with Section 4.3.