Store Inventory Sample Clauses
The store-inventory clause defines the procedures and responsibilities related to maintaining, tracking, and reporting the inventory held at a store location. Typically, it outlines how inventory levels are to be monitored, the frequency and method of inventory counts, and the obligations of the parties involved in managing discrepancies or losses. For example, it may require regular stocktaking, set standards for record-keeping, or specify who is liable for inventory shrinkage. The core function of this clause is to ensure accurate inventory management, minimize losses, and clarify accountability between parties, thereby reducing disputes and operational inefficiencies.
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Store Inventory. On the day that Escrow closes, an outside --------------- inventory service (the "Service") selected by Seller will conduct an in-store inventory of the Store Inventory. The Service will calculate the retail price of the Store Inventory. At the completion of the in-store inventory, Buyer and Seller each shall pay to the Service one half of the fee for the in-store inventory. After the in-store inventory has been completed and the Service has calculated the retail price of the Store Inventory, Seller shall calculate the amount payable for the Store Inventory in accordance with its then-current pricing policies for the sale of store inventory located at an operating business of Seller to a person who intends to re-sell the store inventory at the same location. Seller shall then notify Buyer and Escrow Holder of the amount payable for the Store Inventory. Seller's Operations will be closed to the public during the instore inventory.
Store Inventory. At the Closing but effective as of the Effective Time (as defined in Section 2.6), Seller shall sell, transfer and assign to Buyer all of Seller’s right, title and interest in and to all of the inventory on hand (including raw materials, work in process and finished goods) at the Restaurant Sites.
Store Inventory. (i) All resalable inventory of Seller's --------------- Operations (other than the Petroleum Inventory), in its original packaging, that is located at the Real Estate on the day that Escrow closes and (ii) all supplies that Seller uses in connection with Seller's Operations and that are located at the Real Estate on the day that Escrow closes (collectively, the "Store Inventory");
Store Inventory. All of the Store Inventory is located at one or more of the Restaurant Sites.