Vendor Managed Inventory with Consignment Stocks Sample Clauses

Vendor Managed Inventory with Consignment Stocks. During the mass production phase, a Product shall be delivered through a stock of Product, owned and maintained by SELLER at SONIM’s location for the efficient and timely supply of Product in required quantities to SONIM (“Consignment Stock”) according to SONIM’s VMI process (available upon request) unless otherwise agreed in a Service Level specification in writing. SELLER is responsible for ensuring availability of VMI at all times in the Consignment Stock based on the Rolling Forecasts of SONIM. SELLER shall plan its production and materials according to the updated Rolling Forecasts in such a way that will identify the time needed to replenish SONIM’s inventory, when SELLER has been given Rolling Forecast information, in order to help SELLER prepare for replenishments beforehand (“Inventory Replenishment Lead-time” or “IRLT”). IRLT shall be [***]. SONIM will consume Products from Consignment Stock by transferring needed quantities to its production. When Products are removed from the Consignment Stock a contract of sale about these Products shall have been concluded between the Parties based on [***]. Title to the Product(s) shall pass to SONIM upon [***]. For the sake of clarity, title does not pass to SONIM upon [***]. SONIM will handle the payment for Consignment Stock consumption via the SAP self-billing system on [***]. There will be no invoice from SELLER. SONIM will report on Consignment Stock consumption through Self-Billing invoices that are sent [***] to SELLER for payment verification purposes.
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Related to Vendor Managed Inventory with Consignment Stocks

  • Inventory To the extent Inventory held for sale or lease has been produced by any Borrower, it has been and will be produced by such Borrower in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder.

  • Consignment Inventory that is placed on consignment;

  • Accounts Receivable; Inventory (a) For each Account with respect to which Advances are requested, on the date each Advance is requested and made, such Account shall be an Eligible Account.

  • Accounts Receivable; Inventories The accounts and notes receivable which are reflected on the Final Closing Balance Sheet are good and collectible in the ordinary course of business at the aggregate recorded amounts thereof, less the amount of the allowance for doubtful accounts reflected thereon, and are not subject to offsets. The accounts and notes receivable of the Company which were thereafter added and which will be reflected on the Final Closing Balance Sheet are good and collectible in the ordinary course of business at the aggregate amounts recorded in its books of account, less the amount of the allowance for doubtful accounts reflected thereon (which allowance was established on a basis consistent with prior practice), and are not subject to offsets. The inventories reflected on the Audited and Unaudited Balance Sheets, and thereafter added, as reflected on the Closing Date Balance Sheet, consist of items of a quality and quantity usable or saleable within one year (except as set forth on Schedule 5.7) in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which have been written down to net realizable value or adequately reserved against on the books and records of the Company. To the extent there is inventory not listed on Schedule 5.7 of a quality and quantity not usable or saleable in the ordinary course of business within one year, in lieu of a claim for indemnification, Buyer shall sell and the Selling Shareholders shall purchase such items of inventory at the value carried on the Final Closing Balance Sheet. All inventories not written off are stated at the lower of cost or market.

  • Inventory and Supplies Administrator shall order, purchase and provide to the Group on a timely basis inventory and supplies, and such other ordinary, necessary or appropriate materials which are requested by the Group and which the Group shall reasonably determine to be necessary in the operation of the Practice on the same terms commercially available to Administrator. Such inventory, supplies and other materials shall be included in Practice Expenses at their cost to Parent or Administrator, as the case may be.

  • CONTRACTS WITH ELIGIBLE FOREIGN CUSTODIANS The Foreign Custody Manager shall determine that the contract governing the foreign custody arrangements with each Eligible Foreign Custodian selected by the Foreign Custody Manager will satisfy the requirements of Rule 17f-5(c)(2).

  • Inventory and Equipment with Bailees Store the Inventory or Equipment of Parent, Borrowers or their respective Subsidiaries at any time now or hereafter with a bailee, warehouseman, or similar party.

  • Consignments Consign any Inventory or sell any Inventory on xxxx and hold, sale or return, sale on approval, or other conditional terms of sale.

  • Foreign Account Due Diligence (A) To assist the Fund in complying with requirements regarding a due diligence program for “foreign financial institution” accounts in accordance with applicable regulations promulgated by U.S. Department of Treasury under Section 312 of the USA PATRIOT Act (“FFI Regulations”), BNYM will do the following:

  • Location of Equipment and Inventory All Equipment and Inventory are (i) located at the locations indicated on Schedule 4 (ii) in transit to such locations or (iii) in transit to a third party purchaser which will become obligated on a Receivable to the Debtor upon receipt. Except for Equipment and Inventory referred to in clauses (ii) and (iii) of the preceding sentence, the Debtor has exclusive possession and control of the Inventory and Equipment.

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