Net Disposal Value definition
Net Disposal Value means the (i) amount received from the disposal of Hercules owned Equipment, less (ii) the Out-of-Pocket Expenses reasonably incurred by Supplier in connection with such disposal. The Net Disposal Value of any surplus Equipment disposed of pursuant to this provision shall be credited to Hercules if (i) is greater than (ii) or charged to Hercules if (ii) is greater than (i) on the invoice immediately following the date of such disposal.. Supplier shall obtain Hercules’ consent to dispose of any Hercules-owned Equipment before disposing of such Equipment. Supplier shall maintain reasonable documentation regarding the disposition of such surplus Equipment, including the costs of and revenues from disposal, and shall make such documentation available to Hercules upon Hercules’ request. THIS EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST. REDACTED MATERIAL IS MARKED WITH [******] AND HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
Examples of Net Disposal Value in a sentence
The Net Disposal Value of any surplus Equipment disposed of pursuant to this provision shall be credited to Hercules if (i) is greater than (ii) or charged to Hercules if (ii) is greater than (i) on the invoice immediately following the date of such disposal..
Supplier shall manage the disposal of any surplus Equipment owned by Hercules and shall use commercially reasonable efforts to optimize the Net Disposal Value of such surplus Equipment for the benefit of Hercules.