Customer Owned Inventory definition

Customer Owned Inventory means inventory owned by a customer of the Borrower or any of its Subsidiaries and with respect to which the Borrower or any of its Subsidiaries is acting as a bailee or the like or is otherwise storing or disposing of such inventory at the request of or for the benefit of such customer or its assignee, including any lender to such customer, in each case so long as such inventory is owned by such customer.
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Customer Owned Inventory means inventory owned by a customer of the Company or any of its Subsidiaries and with respect to which the Company or any of its Subsidiaries is acting as a bailee or the like or is otherwise storing or disposing of such inventory at the request of or for the benefit of such customer or its assignee, including any lender to such customer, in each case so long as such inventory is owned by such customer.
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Customer Owned Inventory means all raw materials, work-in-progress, finished goods, parts, supplies, components, and other inventories owned by a customer of the Business and held by the Seller on behalf of, for the benefit of or in trust for such customer pursuant to a Transferred Contract.
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Examples of Customer Owned Inventory in a sentence

  • For the avoidance of doubt, Customer Owned Inventory shall not be considered an asset of the Company or any of its Subsidiaries for purposes of this Agreement or any of the other Note Documents; it being understood and agreed that, for purposes of this Agreement and the other Note Documents, the Company’s or any of its Subsidiaries’ interest in any Customer Owned Inventory is limited to a bailee’s interest or the like.

  • The Parties agree that any customer owned inventory that Buyer accepts from a customer after Closing shall be excluded from the definition of Customer Owned Inventory.

  • At Closing, Seller agrees to transfer possession and Buyer agrees to accept transfer of possession of the Customer Owned Inventory.

  • Buyer agrees to act in good faith according to commercially reasonable standards to administer and manage the Customer Owned Inventory after Closing.

  • Any disputes relating to Customer Owned Inventory shall be, if determined adversely to the Business by Buyer, in its sole discretion, paid by making a claim against the Tail Policy.

  • The Parties shall evaluate in good faith all available information and documentation, including the relevant audit trail (i.e., the record of all transactions with respect to the relevant Transferred Customer Owned Inventory showing any movement of such relevant Transferred Customer Owned Inventory from the date of receipt to the date of such claim), to reasonably determine whether the claimed Pre-Closing Customer Inventory Liabilities actually occurred or arose before or after the Closing Date.


More Definitions of Customer Owned Inventory

Customer Owned Inventory means customer-owned inventory in or in transit to or from Seller's plants.
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Customer Owned Inventory means all raw materials, work-in-progress, finished goods and other materials used in the business of the Division and owned by customers of or suppliers to the Division; (m) "Division" means Kolmar Canada, a division of CCL; (n) "Division Contracts" means the Division's agreements, contracts, leases or commitments relating to the Business, as of the Closing Date described in subsection 4.1(f) hereof; (o) "Environmental Laws" means all applicable laws in effect on the Closing Date which regulate or relate to (i) the protection or clean- up of the environment; (ii) the use, treatment, storage, transportation, generation, manufacture, processing, distribution, handing or disposal of, or emission, discharge or other release of Hazardous Substances or otherwise dangerous substances, wastes, pollution or materials (whether gas, liquid or solid); or (iii) the preservation or protection of waterways, groundwater, drinking water, air, wildlife, plants or other natural resources; (p) "ERISA" means the Employee Retirement Income Securities Act of 1974, as amended; (q) "ERISA Affiliate" of any person means only other person that together with such person as of the relevant hearing date under ERISA, was or is required to be treated as a single employer under Section 414 of the Code; (r) "Excluded Assets" has the meaning set out in Section 4.2; (s) "Excluded Liabilities" has the meaning set out in Section 4.4; (t) "Financial Statements" means the audited historical financial statements of the Business, for the years ended December 31, 1995 and 1996, and the nine months ended September 30, 1997 copies of which are attached hereto as Schedule 1.1(t) - Financial Statements; (u) "GAAP" means generally accepted accounting principles as set forth in statements from Auditing Standards No. 69 entitled "The Meaning of Present Fairly in Conformance with Generally Accepted Accounting Principles in the Independent Auditors Reports" issued by the Auditing Standards Board of American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board that are applicable to the circumstances as of the date of determination; (v) "Governmental Entity" means any government, governmental agency, bureau, board, commission, department or regulatory agency; (w) "Hazardous Substances" shall mean any substance, material or waste that is subject to regulation, control or remediation under any Environmental Laws; (x) "HSR Act" means the Xxxx-X...
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Customer Owned Inventory shall have the meaning given to such term in Section 7.15 herein.
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Related to Customer Owned Inventory

  • Consigned Inventory means Inventory of any Borrower that is in the possession of another Person on a consignment, sale or return, or other basis that does not constitute a final sale and acceptance of such Inventory.

  • Transferred Inventory has the meaning set forth in Section 2.2(a)(iii).

  • Excluded Inventory shall have the meaning set forth in Section 2.4.

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Product Inventory means all inventory owned as of the Closing by Seller or any Affiliate thereof of finished Product that is in conformance with the Specifications and has an expiration date of October 1, 2016 or later, regardless of whether such inventory is held at a location or facility of Seller or any Affiliate (or of any other Person on behalf of Seller or any Affiliate, including in any of Seller’s warehouses, manufacturers, suppliers, distributors or consignees) or in transit to or from Seller or any Affiliate (or any such other Person).

  • Purchased Equipment means any equipment, including any Software, sold by BT to the Customer.

  • Customer Equipment means hardware, software, systems, cabling and facilities provided by you and used in conjunction with the Equipment that we supply to you in order to receive the Services;

  • Excluded Equipment means, at any date, any equipment or other assets of the Borrower or any Guarantor which is subject to, or secured by, a Capitalized Lease Obligation or a purchase money obligation if and to the extent that (i) a restriction in favor of a Person who is not Holdings or any Restricted Subsidiary of Holdings contained in the agreements or documents granting or governing such Capitalized Lease Obligation or purchase money obligation prohibits, or requires any consent or establishes any other conditions for or would result in the termination of such agreement or document because of an assignment thereof, or a grant of a security interest therein, by the Borrower or any Guarantor and (ii) such restriction relates only to the asset or assets acquired by the Borrower or any Guarantor with the proceeds of such Capitalized Lease Obligation or purchase money obligation and attachments thereto, improvements thereof or substitutions therefor; provided that all proceeds paid or payable to any of the Borrower or any Guarantor from any sale, transfer or assignment or other voluntary or involuntary disposition of such assets and all rights to receive such proceeds shall be included in the Collateral to the extent not otherwise required to be paid to the holder of any Capitalized Lease Obligations or purchase money obligations secured by such assets.

  • END USER CUSTOMER LOCATION means the physical location of the premises where an End User makes use of the telecommunications services.

  • In-Transit Inventory means Inventory of a Borrower which is in the possession of a common carrier and is in transit from a Foreign Vendor of a Borrower from a location outside of the continental United States to a location of a Borrower that is within the continental United States.

  • Client Assets means assets which a bank has undertaken to hold for a client (whether or not on trust, and whether or not the undertaking has been complied with);

  • Customer List means a list in electronic form (or such other form determined by ActewAGL) which sets out the following items for a Volume Customer Delivery Point:

  • Fixed Equipment means any property affixed in any way to the Licensed Premises existing at the time Notice to Proceed is given, whose removal would damage the Licensed Premises.

  • Third Party Equipment has the meaning given such term in Section 4.8 of this Agreement.

  • Supplier Equipment means the Supplier's hardware, computer and telecoms devices, equipment, plant, materials and such other items supplied and used by the Supplier (but not hired, leased or loaned from the Customer) in the performance of its obligations under this Call Off Contract;

  • Approved Vendor means a person who has been approved for inclusion on an

  • Customer Assets means the Customer’s infrastructure, data, software, materials, assets, equipment or other property owned by and/or licensed or leased to the Customer and which is or may be used in connection with the provision of the Services;

  • School equipment means a durable school-owned machine, equipment, or tool used by a student as part of an activity, course, or program in a secondary school and includes a saw or 3D printer. “School equipment” includes a saw or 3D printer.

  • Merchandise means any personal property offered or sold for use in connection with the funeral, final disposition, memorialization, or interment of human remains, but which is exclusive of interment rights.

  • Farm equipment means equipment used directly for farming

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

  • Customer Site means the site owned or leased by the Customer or any other site used to provide the Service, which is directly connected to a PoP managed by Liquid Telecom, as set out in the COF;

  • Computer Equipment means Covered Property that is electronic computer or other data processing equipment, including peripherals used in conjunction with such equipment, and electronic media and records.

  • Goods means all of the equipment, machinery, and/or other materials that the supplier is required to supply to the purchaser under the contract.

  • Customer Content means all software, data (including personal data), information, text, images, audio, video, photographs, non-AVEVA or third-party applications, and other content and material, in any format, provided by Customer, any of Customer’s users, or on behalf of Customer that is stored in, or run on or through, the Products and Support Services.

  • Designated Equipment means either: (i) a server identified by serial number, or host I.D. on which the Licensed Materials are stored; or (ii) a computer or workstation, as identified by its serial number, host I.D. number or Ethernet address; to which the Licensed Materials are downloaded and Used only upon the issuance of a License Key. The Designated Equipment shall be of a manufacture, make and model, and have the configuration, capacity (i.e., memory/disk), operating software version level, and pre- requisite and co-requisite applications, prescribed in the Documentation as necessary or desirable for the operation of the Software.