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

• Provided Supplier validly procures or assembles the Inventory required pursuant to a Customer purchase order, and/or any Customer requested increase in the quantity of Products forecasted or ordered, Customer acknowledges liability for Excess Inventory and Obsolete Inventory (defined below) as set forth in subsections (c) and (d) below.

• Supplier shall use commercially reasonable efforts to minimize Customer’s liability for Excess Inventory and Obsolete Inventory by modifying purchases of Materials based on then-current forecasts and purchase orders and/or attempting to return, resell or reuse Materials that are deemed Excess Inventory or Obsolete Inventory.

• Upon receipt of an Obsolete Inventory report, Customer will issue a purchase order for the Obsolete Materials.

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

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

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.