Gross Inventory Value definition
Examples of Gross Inventory Value in a sentence
For all SKUs except for those identified as obsolete in IV.A above, calculate, on a SKU basis, the dollar amount of Gross Inventory Value on the Closing in excess of the Gross Inventory Value sold or used during the twelve month period preceding the Closing (using full months only).
Following the Closing, the Seller will cooperate fully with the Purchaser and the Purchaser's accountants (the "Purchaser's Accountants") to facilitate their review of the Seller's calculation of Gross Royalty Assets, Gross Inventory Value, Unpaid 1998 Royalties and 1999 Royalties used to establish the Purchase Price and to afford them with full access to work papers and such other books and records as the Purchaser's Accountants may reasonably request in connection with such review.
If there is a determination pursuant to this Section 2.5 that the portion of the Purchase Price based on Gross Royalty Assets, Gross Inventory Value, Unpaid 1998 Royalties and 1999 Royalties was greater or, except in the case of Gross Inventory Value, less than it should have been had these been correctly calculated, the Purchase Price shall be decreased or increased, as applicable, by the amount of such excess or deficiency.