Damaged Merchandise definition
Damaged Merchandise means any item of Merchandise that is damaged, defective or otherwise not saleable in the ordinary course;
Damaged Merchandise means any item of merchandise reasonably agreed upon and identified by Agent and Merchant during the taking of the Inventory Count as (i) so damaged or defective that the Merchant would not have offered such merchandise at regular retail price (inclusive of promotional and clearance prices) prior to the Sale, and (ii) products with expiration dates thirty (30) days or less after the Start Date. Sample Merchandise and Merchandise on display shall not per se be deemed to be Damaged Merchandise so long as (x) the original packaging (including any written instructions and warranty information) for such Merchandise is intact and available if needed to make the item salable in the ordinary course, and (y) such item remains subject to its original warranty, if applicable. Damaged Merchandise shall not include goods which have minor dents in the product packaging that do not affect the salability of the product contained inside the package. Either Merchant or Agent may, in its discretion, elect to exclude an item of damaged or defective Merchandise from Damaged Merchandise, and in such event, Merchant shall as promptly as practicable remove such item from the applicable Store; provided, however, that Merchant shall have the right, but not the obligation, to include all or a portion of the Damaged Merchandise, to be selected at Merchant's discretion, in the Sale as Merchant Consignment Goods (as defined below) in accordance with the terms of this Agreement.
Examples of Damaged Merchandise in a sentence
Damaged Merchandise: Inspect shipment for any damage, before accepting it.
All Merchandise other than Damaged Merchandise is saleable and is valued on the books of the Vendor in accordance with generally accepted accounting principles applied on a basis consistent with those used in the Interim Financial Statements.