Shrink Sample Clauses
The "Shrink" clause allows for a reduction in the scope, quantity, or value of goods or services to be provided under a contract. In practice, this clause may permit one party to decrease the number of units ordered, scale back project deliverables, or adjust service levels, often with advance notice and sometimes subject to certain limitations or penalties. Its core function is to provide flexibility for the contracting parties to adapt to changing needs or circumstances, thereby minimizing waste or unnecessary costs when full performance is no longer required.
Shrink. What Shrink is applied to Your Accounting Stock?
(a) GrainCorp will Shrink Your Accounting Stock at the following rates:
(i) 0.7% by weight from each load of wheat, durum, noodle and soft wheats, oats, all other cereals (excepting rice), sorghum, barley and canola Received at a GrainCorp Storage;
(ii) 0.2% by weight from each load of wheat, durum, noodle and soft wheats, oats, all other cereals (excepting rice), sorghum, barley and canola Received at a Port Terminal;
(iii) 1% by weight from each load of legumes, pulses, maize, sunflowers and oilseeds other than canola delivered to a country storage or a port terminal
(iv) An additional 1% Shrink will be deducted from all Tonnage of legumes and pulses in GrainCorp Storages at the commencement of the Next Season and at that date for each subsequent season until Outload; and
(v) Other Grain not listed above shall be Shrunk at an agreed rate or handled on an ’all in all out’ basis in GrainCorp’s discretion.
(b) You acknowledge and agree:
(i) The Shrink deduction applies to Transfers from Grower Warehousing Services and road and rail Receival from any Non‐GrainCorp Storages, excluding ‘site to site’ Transfers or where throughput Services are provided, which are provided on an ‘all in, all out’ basis;
(ii) Accounting Stock which has been transferred to You from another Customer (Buyer to Buyer Transfer) is excluded as Shrink will have already been applied to that Stored Grain;
(iii) The application of Shrink at Port Terminals will be determined in accordance with any applicable Bulk Wheat and Non‐Wheat Port Terminal Services Agreement between You and GrainCorp;
(iv) Where Shrink is deducted under clause 7(a), Title in the residue (being a volume of Grain representing the amount deducted) will Transfer to GrainCorp and any proceeds from the sale of Shrink residue, dust and/or damaged Grain will be to the account of GrainCorp and will not be considered for Outload on Your behalf. For the purposes of clarity, the residue does not Transfer to Co‐ Owners; and
(v) The deductions set out in clause 7(b)(i) will be applied such that the quantity of Grain available to the Customer on Outload or Transfer as recorded in GrainTransact/CropConnect which will be the Shrunk quantity. The Shrunk quantity is Your Interest.
Shrink. In order to account for shrinkage, the amount of coal that HLBE shall be entitled to remove from the Facility shall be reduced by a quantity equal to one percent (1%) of the total quantity of HLBE’s coal listed on the Shipping Documents for each unit train.
Shrink. Consignee shall make an annual payment to Consignor at the most recent Agreed Cost per unit for any loss or damage to the Consignment Products that occurs while they are under Consignee’s control less any applicable discounts, allowances or other valid off set amounts, while such Consignment Products are in the care, custody, and control of Consignee upon signed settlement and reconciliation of account, which settlement and reconciliation to occur on an annual basis from the signed contract date, unless otherwise mutually agreed upon by the parties. Notwithstanding the foregoing, Consignee agrees to use commercially reasonable efforts to protect and preserve the Consignment Products that are in the care, custody or control of Consignee, wherever located.
Shrink wrapped or similarly protected kits shall be used in all instances pertaining to (1) and (2) above.
Shrink. (a) As of the last day of the Transition Period, the Seller shall (i) conduct a physical count of (A) the items of Inventory, including On Order Goods, and all items of women's costume jewelry products returned by customers that are physically located at the Seller's Taunton, Massachusetts warehouse (including, without limitation, those items of women's costume jewelry purchased by Buyer pursuant to Section 6.1(e)) and (B) all other items of women's costume jewelry that shall have been purchased by Buyer from vendors and delivered to the Taunton, Massachusetts warehouse that shall not have been shipped to customers during the Transition Period, and (ii) develop a list of such items by stock keeping unit (SKU). Such list shall also include those of the foregoing items that are located at a facility of a manufacturing, packaging or other subcontractor, import broker, or other third party facility. Seller shall categorize such items as ▇▇▇▇ ▇▇▇▇▇ goods, AK II goods, Guess goods and Private Label Program goods. Buyer shall have the opportunity to be present at such physical count. Seller shall assign to each of the items on the list referred to in clause (ii) above a value equal to Swank's standard cost, Swank's manufactured cost or Swank's closeout cost (as each such term is defined in Schedule 1.4), as applicable, of such item and shall calculate an aggregate of Swank's standard cost, Swank's manufactured cost and Swank's closeout cost, as applicable, of all such items (the "Aggregate Physical Count Value"). Seller shall deliver to Buyer the list referred to in clause (ii) above within ten (10) business days after the end of the physical count.
(b) Within ten (10) business days after the end of the physical count, Seller shall prepare and deliver to Buyer a list by SKU of the items described in clauses (i) and (ii) of the first sentence Of Section 6.15(a) as reflected on Seller's books and records. Seller shall assign to each of the items on the list referred to in this Section 6.15(b) a value equal to Swank's standard cost of such item and shall calculate an aggregate of Swank's standard cost, Swank's manufactured cost and Swank's closeout cost of all such items (the "Aggregate Book Value").
(c) In the event that the Aggregate Book Value exceeds the Aggregate Physical Count Value (the "Excess") by more than five percent (5%), then, Seller shall, within ten (10) days of the delivery of the lists referred to in Sections 6.15(a) and (b), pay to Buyer an amount...
Shrink. Retailer accepts responsibility for product loss of up to, but not in excess of, two percent (2%) of the aggregate wholesale value of the Retailer's segregated merchandise shipped to i.FILL, as calculated annually on or around January 1 of each year during the term of this Agreement.
Shrink. Consignee shall make an annual payment to Consignor at the most recent Agreed Cost per unit for any loss or damage to the Consignment Product that occurs while they are under Consignee’s care, custody and control less any applicable discounts, allowances or other valid off set amounts, upon signed settlement and reconciliation of account, which settlement and reconciliation to occur on an annual basis from the signed contract date, unless otherwise mutually agreed upon by the parties. Notwithstanding the foregoing, ▇▇▇▇▇▇▇▇▇ agrees to use commercially reasonable efforts to protect and preserve the Consignment Product that are in the care, custody or control of Consignee, wherever located.
Shrink. Inventory which has been lost, misplaced, stolen, or is otherwise unaccounted for. Shrink Reserve. From time to time and to the extent that Shrink was not deducted in determining Net Book Value, the Borrowers’ then current general ledger reserve for Shrink; provided that the determination of such current general ledger reserve is consistent with the methodologies used in the Borrowers’ most recent physical inventory summary results delivered to the Co-Collateral Agents on or about September 2009.