Closing Inventory Provision definition

Closing Inventory Provision means the inventory provision, as evidenced by the Closing Balance Sheet, representing the estimated portion of the gross value of Inventory that will not be sold during a period of one (1) year from the date of the Closing Balance Sheet and to compensate for the loss of gross profit margin should the inventory be sold for less than historical gross profit margins.
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Related to Closing Inventory Provision

  • Inventory Value means the cost of property purchased by the trustee and the market value of other property at the time it became subject to the trust, but the trustee may use any value finally determined for the purposes of an estate or other transfer tax;

  • Estimated Closing Statement has the meaning set forth in Section 2.4(a).

  • Post-Closing Statement has the meaning set forth in Section 3.3(c).

  • Closing Statement means the Closing Statement in the form on Annex A attached hereto.

  • Obsolete Inventory means items that have expired, are redundant or damaged;