Excess or Obsolete Inventory definition
Excess or Obsolete Inventory means any Inventory which, as of the date hereof: (i) cannot be sold at current prices in the ordinary course of the Company Business, (ii) is not usable in the production of current Company Products, or (iii) consists of on hand quantities in excess of two (2) year’s projected sales or usage.
Examples of Excess or Obsolete Inventory in a sentence
Within [***] after the end of the second month of calendar quarter, SANMINA-SCI shall advise CUSTOMER in writing of any Excess or Obsolete Inventory in its inventory and their Delivered Cost (the “E&O List”).
Except for Excess or Obsolete Inventory set forth on Schedule 5.6 of the Company Disclosure Schedule, all such Inventory is in good and saleable condition.
Adequate reserves in accordance with GAAP have been established on the Audited Financial Statements and Interim Financial Statements with respect to any (i) missing Inventory, or any (ii) Excess or Obsolete Inventory.