Obsolete Inventory definition

Obsolete Inventory means items that have expired, are redundant or damaged;

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Obsolete Inventory has the meaning set forth in Section 5.14(b).

Obsolete Inventory means items that have expired, are redundant or damaged; “Re-order level” means the level of inventory at which inventory is re-ordered; “Requisition form” means a written request to supply specified inventory;

Examples of Obsolete Inventory in a sentence

• Subject to the immediately following sentence and except for Obsolete Inventory, all inventories of, finished goods, inventory for resale, supplies and repair materials of Seller (taken as a whole), as of the Closing Date (the “Inventory”) it being expressly agreed that all Obsolete Inventory will not be included in the Assets and will constitute Excluded Assets.

• For clarity, it is expressly agreed by the Parties that Seller has the right to keep all Obsolete Inventory, all of which shall constitute Excluded Assets.

• At the end of every calendar month, Flextronics shall report the Obsolete Inventory.

• In the event Customer does not pay within thirty (30) days, Flextronics will be entitled to dispose of such Inventory, Special Inventory, Excess Inventory, Obsolete Inventory and/or Aged Inventory in a commercially reasonable manner and credit to Customer any monies received from third parties.

• Obsolete Inventory: OEM shall take receipt of Non-Standard Material inventory that is: (i) aged inventory for a period of [***], and (ii) is not included in the monthly forecast (the “Obsolete Inventory”).

More Definitions of Obsolete Inventory

Obsolete Inventory means any inventory on hand at the Closing that has not sold within the preceding twelve months from the Closing Date.

Obsolete Inventory means either of any Product, partially completed Product, Inventory or Special Inventory, or some or all, that is any of the following: (a) removed from the ▇▇▇▇ of materials for a Product by an engineering change; (b) no longer on an active ▇▇▇▇ of materials for any of LumiraDx’s Products; or (c) on-hand with Flextronics but not required for consumption to satisfy the next [***] of demand for Products under the then-current purchase order(s) and Forecast.

Obsolete Inventory has the meaning set out in Article 13.4(d);

Obsolete Inventory means inventory that either (i) has no planned usage under the Long Term Powder Supply Agreement or (ii) is beyond its shelf life.

Obsolete Inventory means Inventory or Special Inventory that is any of the following: (a) removed from the ▇▇▇▇ of materials for a Product by an engineering change; (b) no longer on an active ▇▇▇▇ of material for any of Customer’s Products; or (c) on-hand Inventory and Special Inventory that are not required for consumption to satisfy the next [***] of demand for Products under the then-current purchase order(s) and forecast.

Obsolete Inventory means Inventory or Special Inventory that is any of the following: (a) removed from the ▇▇▇▇ of materials for a Product by an engineering change; (b) no longer on an active ▇▇▇▇ of material for any of Customer’s Products; or (c) on-hand Inventory and CDM - E - 20 - *** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. Special Inventory that are not required for consumption to satisfy the next [***] of demand for Products under the then-current purchase order(s) and forecast. CDM - E - 21 - *** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Obsolete Inventory means (i) Raw Materials on hand that are no longer in the Product(s) ▇▇▇▇ of material, (ii) Product(s) that are no longer forecasted, or (iii) filters that are no longer used due to a mutually agreed manufacturing process change.