Common use of Termination inventory Clause in Contracts

Termination inventory. Within thirty (30) days after the expiration or termination of this Agreement, Licensee shall prepare and deliver to ▇▇▇▇▇ a written Termination Inventory, including a complete and accurate schedule as of the date of expiration or termination of all completed ▇▇▇▇▇ Merchandise on hand; ▇▇▇▇▇ Merchandise on order; work in process relating to ▇▇▇▇▇ Merchandise on hand, including uncut piece goods and products and materials in the process of manufacture; and all Packaging materials, advertising and promotional materials and other documents or items that bear the Marks or ▇▇▇▇▇' name in any form in Licensee's possession or control or in the process of manufacture for Licensee. ▇▇▇▇▇ shall have the option, exercisable within ten (10) days after receipt of the Termination Inventory, to purchase all or any portion of the items in the Termination Inventory for a purchase price equal to ( %) percent of Licensee's cost. Licensee shall deliver to ▇▇▇▇▇ the items in the Termination Inventory to be purchased, within five (5) days after receipt of ▇▇▇▇▇' notice exercising its option to purchase, and ▇▇▇▇▇ shall pay the purchase price within thirty (30) days after receipt of all items of the Termination Inventory purchased.