Ordered Inventory definition

Ordered Inventory means Inventory (other than Prepaid Inventory) of the type set forth on Schedule 1.1(f) that has been ordered by Sellers prior to the Closing Date but as to which Sellers have not taken title or delivery prior to the Closing Date.

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Ordered Inventory has the meaning set forth in Section 4.

Ordered Inventory means inventory covered by or included in a Pre-Closing Inventory Order with respect to which, as of the Closing Date, a letter of credit has been issued pursuant to a Trade LC Facility, but has not yet been drawn. For purposes of clarification, the parties hereby agree that (i) if any such letter of credit issued pursuant to a Trade LC Facility has been drawn, such inventory shall be deemed to be included under the definition of "Inventory" and (ii) "Ordered Inventory" shall exclude any such inventory located in or on the premises of, or in transit to or acquired for, the Flagship Stores.

Examples of Ordered Inventory in a sentence

• Consignee shall not cancel or modify its purchase order for the Ordered Inventory without the written consent of Consignor.

• Consignee shall use commercially reasonable efforts at all times during the Repurchase Period to maintain, in Consignee’s reasonable business judgment, a sufficient supply of each dose and package size of the finished products included in the Consigned Merchandise; provided, that with respect to the Ordered Inventory, Consignee’s obligation to use commercially reasonable efforts to maintain such finished products shall begin upon receipt of the Ordered Inventory.

• Credence shall promptly transfer and deliver to Newco all Ordered Inventory delivered to Credence and that Newco elected to receive hereunder.

• Consignor is in the business of developing and distributing various pharmaceutical products including but not limited to Multi-Flavored Gumdrops, Swirl Gummy Bears, Multi-Flavored gummy Bears, Orange Gumdrops, as further described in Schedule A, attached hereto, including the Ordered Inventory, as defined herein, the “Consigned Merchandise”).

• Part 2.1(c) contains a true and complete listing of Received Inventory and Ordered Inventory as of the date hereof.

• Credence shall purchase and obtain for Newco up to $1,000,000 of Ordered Inventory (valued at the price paid by Credence) identified on Schedule A as to be delivered to Newco, at no additional cost to or payment by Newco; and Credence shall timely pay the amounts due or that become due with respect to such Ordered Inventory.

• Except for purchase orders for Ordered Inventory identified on Schedule A as to be cancelled by Credence, Credence shall honor and pay for its purchase orders for all Ordered Inventory.

• Seller shall pay and be liable for all payments to vendors for Ordered Inventory.

• Newco shall have the right to return defective Ordered Inventory for 45 days after receipt thereof by Newco.

• The parties hereto agree that all Ordered Inventory delivered to Newco after the Closing constitute Purchased Assets hereunder and no additional Purchase Price or other consideration shall be paid by Newco with respect thereto.

More Definitions of Ordered Inventory

Ordered Inventory means purchase orders by PRI or NCL for prescription drugs that have not been received prior to the Closing (and which are therefore not included among the Inventory), a list of which shall be provided to Buyer at Closing and which shall be limited to orders in the ordinary course of business consistent with past practices and not in excess of normal, ordinary and usual requirements of PRI and NCL, and not at prices in excess of prices normally and customarily paid by PRI and NCL or its affiliates for similar prescription drugs.

Ordered Inventory means all finished goods which have been ordered but not yet received by the Company and as to which a documentary Letter of Credit supporting the Company's purchase of such finished goods is outstanding."

Ordered Inventory means purchase orders by a Seller made prior to the Closing Date to acquire prescription drugs for resale in the Pharmacy Business (and which are therefore not included among the Inventory), a list of which shall be provided to Buyer at Closing and which shall be limited to orders in the ordinary course of business consistent with past practices and not in excess of normal, ordinary and usual requirements of the Pharmacy Business, and not at prices in excess of prices normally and customarily paid by a Seller for similar prescription drugs, and which shall not in any event exceed One Million Dollars ($1,000,000) in the aggregate.

Ordered Inventory means purchase orders for prescription drugs that have not been received by Sunrise prior to the Closing (and which are therefore not included among the Inventory), a list of which shall be provided to Company at Closing and which shall be limited to orders in the ordinary course of business consistent with past practices and not in excess of normal, ordinary and usual requirements of Sunrise, and not at prices in excess of prices normally and customarily paid by Sunrise for similar prescription drugs, excluding price increases imposed by suppliers in the ordinary course of business.