Lost Inventory definition
Lost Inventory shall be calculated on a component reference number by component reference number basis (each such unique component a “Component”), subtracting as of a particular date the Amount Used of such Components and the Actual Inventory of such Component from the Amount Delivered, where (i) “Amount Used” means the quantity of such Components manufactured by Supplier into products prior to the particular date, (ii) “Amount Delivered” means the quantity of such Components delivered by Customer’s vendor to Supplier (based on receiving information supplied by Supplier) prior to the particular date, and (iii) “Actual Inventory” means the quantity of such Components on-hand as determined by a physical count as of the particular date.
Lost Inventory shall be calculated on a component reference number by component reference number basis (each such unique component an “Inventory Component”), subtracting as of a particular date the Amount Used of such Inventory Components and the Actual Inventory of such Inventory Component from the Amount Delivered, where (i) “Amount Used” means the quantity of such Inventory Components manufactured by Supplier into products prior to the particular date, (ii) “Amount Delivered” means the quantity of such Inventory Components delivered by Customer’s vendor to Supplier
Lost Inventory shall be calculated on a component reference number by component reference number basis (each such unique component an “Inventory Component”), subtracting as of a particular date the Amount Distributed of such Inventory Components and the Actual Inventory of such Inventory Component from the Amount Delivered, where (i) “Amount Distributed” means the quantity of such Inventory Components distributed by Supplier pursuant to a Customer Order prior to the particular date, (ii) “Amount Delivered” means the quantity of such Inventory Components delivered by Supplier’s manufacturing facility or Customer’s vendor to Supplier (based on Customer Orders received by Supplier) prior to the particular date, and (iii) “Actual Inventory” means the quantity of such Inventory Components on-hand as determined by a physical count as of the particular date.
Examples of Lost Inventory in a sentence
Notwithstanding the foregoing, for certain non-standard, high cost packaging items (by way of example, for purposes of clarity but without limitation, non-standard, high cost packaging items include multi-disc boxes, multi-disc booklets and Customer-owned DVDs) specified from time to time by Customer, Supplier shall pay for Lost Inventory exceeding [*****]% of the amount delivered to Supplier (or such other percentage as is consistent with Prevailing Practices).
Ingram will not be liable for: Any Lost Inventory, Inventory Damage, or Package Damage which occurs prior to delivery of the Inventory to Ingram or after Ingram delivers the Inventory to the carrier for delivery to SmartDisk or the Customer.
More Definitions of Lost Inventory
Lost Inventory means Inventory lost in a Facility.