Merchandise Inventory definition

Merchandise Inventory means all foodstuffs, beverages, tobacco products, magazines, books, household products, automotive products or accessories, and any other products of the Business of whatever nature held for retail sale out of the Stores, other than Petroleum Inventory.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Merchandise Inventory means saleable items of merchandise of every type and description at the Locations as of the Closing excluding Petroleum Inventory, Car Wash Supplies Inventory, Supplies Inventory, Lottery Inventory, and Food Service Inventory. For purposes of determining Merchandise Inventory, “saleable” shall mean all items other than (1) items that violate applicable government code specifications; (2) spoiled or damaged items, including packaging thereof; and (3) items that are stale dated as of the date of the inventory audit.

Merchandise Inventory means saleable items of merchandise of every type and description (including alcohol and alcoholic beverages) at the Station Properties as of the Closing excluding Fuel Inventory, supply inventory and fuel service inventory.

Examples of Merchandise Inventory in a sentence

• The Inventories are in good and merchantable condition and constitute a customary and normal supply and product mix, consistent with Seller's past practice, of saleable Merchandise Inventory and Petroleum Inventory currently sold at normal prices in the ordinary course of business of the Business.

• Merchandise Inventory (other than beer, wine, Food Services Items (as hereinafter defined) and cigarettes) will be priced at seventy percent (70%) of Seller’s retail price of each item and Food Service Items and cigarettes will be priced at Seller’s cost.

• The purchase price for the Merchandise Inventory (the “Merchandise Inventory Price”) will be the actual invoice cost paid by the Seller for each item listed in the Inventory.

• No party can recover under paragraphs 12.1 or 12.2 an amount in excess of the principal amount of the cash (excluding accrued interest, the Merchandise Inventory Price and the Receivables Price) paid by the Buyer to the Seller pursuant to this Agreement and other documents executed in connection (the “Indemnification Cap”).

• A physical inventory (the “Inventory”) will be taken of all Merchandise Inventory and supplies located at the Business prior to the Closing Date on a date acceptable to the Buyer and the Seller.

More Definitions of Merchandise Inventory

Merchandise Inventory means, Inventory (other than (a) Lubricants not for sale at a retail location and (b) Petroleum Inventory) held by any Obligor for retail sale in the Ordinary Course of Business.

Merchandise Inventory means all merchandise (excluding any Product Inventory) owned by the Companies as of the Measurement Time and acquired for resale or use in the Retail Assets (including Food Supplies), whether in transit or located elsewhere, whether in the possession of the Companies or any other Person.

Merchandise Inventory means all products and items held for sale to the public at the Stores including, without limitation, all food related items requiring further processing, packaging or preparation and ingredients from which prepared foods are made to be sold.

Merchandise Inventory means all caskets, urns, vaults, monuments, and other supplies owned by Seller as of the Closing Date or used or held for use in connection with the operation of the Business.

Merchandise Inventory means saleable items of merchandise of every type and description at the applicable Locations as of the Measurement Time excluding Deli Inventory, Petroleum Inventory, consignment items, and proprietary merchandise (e.g. logoed items). For purpose of determining Merchandise Inventory, “saleable” means all items other than (i) items that violate applicable Law; and (ii) items that are spoiled or damaged,

Merchandise Inventory means items of merchandise of every type and description at the Station Properties as of the Cut-over Time excluding Petroleum Inventory, Food Service Items and Supplies Inventory.

Merchandise Inventory means inventory of pre-recorded videos and movies, video games, confections, licensed merchandise, audio books, music, consumer electronics, games hardware, games accessories and other entertainment related merchandise for in-store sale by Borrower to customers.