Short-Dated Inventory definition

Short-Dated Inventory means Dermatology Products inventory that is scheduled to expire within six (6) months.
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Short-Dated Inventory means, at any time, Inventory of Borrower having an expiration date of less than twelve (12) months from such time.
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Short-Dated Inventory means, at any time of determination, Inventory having an expiration date of less than twelve (12) months from such date.
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Examples of Short-Dated Inventory in a sentence

  • If Buyer and Sellers do not agree upon such a value, the Short-Dated Inventory shall be an Excluded Asset and shall be properly destroyed or disposed of by Sellers or Buyer at Sellers’ expense.

  • Between the Effective Date and the Closing, Buyer and Sellers shall negotiate in good faith to determine a fair value of the Short-Dated Inventory.


More Definitions of Short-Dated Inventory

Short-Dated Inventory means any of the Company’s and its Subsidiaries’ inventory of Finished Product, any API included in any Product and any other inventory not otherwise contained or used in the Finished Product, each with an expiration date that is within 10 months immediately following the Closing Date.
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Short-Dated Inventory has the meaning set forth in Section 4.02(a) Section 1.120 “Subsidiary” of any Person means any Person of which such first Person (either alone or through or together with any other Subsidiary) owns, directly or indirectly, more than fifty percent (50%) of the equity securities of such other Person, the holders of which are generally entitled to vote for the election of the board of directors, general partner, the manager or other governing body of, or otherwise control the business and affairs of, such other Person.
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Short-Dated Inventory means any of the Company’s and its Subsidiaries’ inventory of Finished Product, any API included in any Product and any other
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Related to Short-Dated Inventory

  • Excluded Inventory has the meaning set forth in Section 2.2(b).

  • Transferred Inventory has the meaning set forth in Section 2.2(a)(iii).

  • Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrowers’ business.

  • Eligible Inventory means and include Inventory, excluding work in process, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in, first-out basis, which is not obsolete, slow moving or unmerchantable as determined by Agent in its Permitted Discretion and which Inventory, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). Notwithstanding anything herein to the contrary, no Inventory shall be Eligible Inventory to the extent such Inventory was acquired by a Borrower pursuant to an entity creation under Section 7.12 or a Permitted Acquisition, unless Agent has (i) completed field examinations with respect to such Inventory, the results of which are satisfactory in form and substance to Agent in its Permitted Discretion or (ii) waived such restriction in its Permitted Discretion. In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than between one or more locations where Borrowers are permitted hereunder to maintain or store Inventory and such location is the subject of a Lien Waiver Agreement or a Processor’s Agreement, as applicable, unless such location is owned by Borrower); (c) is located outside the continental United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory (other than Consigned Inventory that is subject to a warehouseman’s waiver in form and substance satisfactory to Agent); (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion); (g) at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by Agent), is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Agent a Lien Waiver Agreement or a Processor’s Agreement, as applicable (or Agent shall have established reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); or (h) if the sale of such Inventory would result in the creation of a Receivable which, on the date of such sale, would fail to constitute an Eligible Receivable due to the operation of any of clauses (b), (c) or (e) – (p) of such definition.

  • Inventory Value means the cost of property purchased by the trustee and the market value of other property at the time it became subject to the trust, but the trustee may use any value finally determined for the purposes of an estate or other transfer tax;