Old Inventory definition

Old Inventory means all of Sellers’ supplies, equipment, and spare parts necessary or useful for day-to-day maintenance and repair acquired on or before October 31, 2004 that is reflected on Sellers’ October 31, 2004 balance sheet and which shall be identified by dollar value at each of Sellers’ locations or on Sellers’ vehicles on Schedule 2.1(c) hereto.
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Examples of Old Inventory in a sentence

  • Buyer shall assign to Sellers or Sellers' designee any Used and Old Inventory that it does not so purchase.

  • This Old Inventory need not be removed from the basement of the Company’s building for at least two years from the Closing Date until sold or transferred to a third party.

  • Sellers shall bear the risk of loss with respect to the Old Inventory and costs (other than labor) of its removal.

  • The activities of Sellers with respect to the Old Inventory authorized under this Subparagraph shall not be deemed to violate the Employee Covenants of Unauthorized Disclosure, Noncompetition, and Non-solicitation set forth in the Employment Agreements.

  • Sellers may remove such Old Inventory upon its sale or other disposal, in whole or in part, and the net proceeds of sale or other deposition shall be Sellers’ sole property.

  • If Sellers fail to remove the Old Inventory by the Removal Date, Purchaser may do so at Seller’s cost and expense.

  • If the Old Inventory is not sold or otherwise transferred to a third party, Sellers shall remove the Old Inventory from the Company premises by the Removal Date.