Unique Inventory definition

Unique Inventory means all Material that cannot be sold to other customers, suppliers or brokers due to proprietary design or IP ownership or commercial Material that was altered by form, fit or function to meet Nortel Networks requirements, such as Nortel Networks designed custom asic’s, printed circuit boards, fabricated metal castings or plastic parts, documentation or literature, custom packing (boxes), labelling, or Material with Nortel Networks logo or part number applied. Unique Inventory does not include Material i) that is better than parts, such as tighter tolerances or higher levels of gold plating, or ii) has unique packing requirements even though different manufacturer part number, such as reel sizing, tubes versus tape and reel, or loose. Notwithstanding the foregoing, commercially available Material that can be sold to someone else other than Nortel Networks but where Flextronics does not have any other customers using this Material and Nortel Networks demand is greater than 65% of the world wide demand shall also be considered Unique Inventory. Unique Inventory may be supplied by both NC and SC Suppliers.
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Unique Inventory means any of the following: (a) finished goods Inventory that has been sold to only one customer (including such customer’s Affiliates) within the preceding twelve (12) consecutive months of any date of determination, (b) a product or part which has no sales history or (c) finished goods containing a customer logo or other trademark.
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Unique Inventory means the inventory of components which are used by Adaptec solely for the purpose of rendering the Services, as specified in Exhibit G, ("Unique Components"), which are purchased by Adaptec for the purpose of rendering the Services.
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Examples of Unique Inventory in a sentence

  • Upon any transfer of responsibility for supply of a Product from Flextronics to Nortel Networks or upon any ramp-up of a new Product, Nortel Networks will, subject to a physical quality inspection in accordance with the procedure set forth in Exhibit 8, purchase Materials that is Unique Inventory for such Product in Flextronics’s control.

  • If Flextronics has placed orders for Unique Inventory with Materials suppliers that, at the time of such transfer, are not yet completely filled, Nortel Networks will accept assignment of such orders to it for those Materials not yet shipped to Flextronics; provided that consumption of such Material is included in the Market Forecast or comprises part of End-of-Life Inventory.

  • For greater clarity End-of-Life Inventory will be considered Unique Inventory.

  • Upon the expiration or termination of this Agreement for any reason, Company agrees to purchase all remaining Unique Inventory then in date and in the hands of Supplier at Supplier’s Defined Cost for such Products.

  • All such Unique Components shall be deemed to be "Unique Inventory" and Purchaser shall assume all risk for non-use of such components.

  • In the event that Company discontinues to offer for sale (or otherwise substantially reduces its projected demand for) a Unique Inventory item sold by Supplier exclusively to Company and with respect to which Supplier has or maintains inventory, then Company shall promptly so notify Supplier, and Company shall thereupon purchase and accept delivery all such inventory (or, in the case of a reduced projected demand, all excess inventory) from Supplier over a reasonable period of time.

  • Upon the expiration or termination of this Agreement for any reason, TEI shall submit to EMI within ten (10) days a summary of the number and type of Products on order or held in stock by TEI for EMI based on EMI’S sales forecasts, including EMI Unique Inventory and TEI Products, and EMI shall purchase all EMI Unique Product inventory from TEI at TEI's Cost, plus shipping and insurance at EMI’S expense, within ten (10) days following receipt of such notice.

  • If TEI discontinues any TEI Product SKU, EMI may choose to continue such SKU as EMI Unique Inventory.

  • In the event Purchaser terminates this Agreement pursuant to Section 16.1, Purchaser shall immediately pay to Adaptec all amounts due to Adaptec, including the full purchase price for all outstanding Purchase Orders, the full purchase price of all Risk-buy Inventory not incorporated into Products, and the then-current price of all Unique Inventory not incorporated into Products.

  • At each Quarterly Review Meeting, if the per-unit price of the then-existing Unique Inventory has decreased since the last reconciliation of the Unique Inventory, Purchaser shall pay to Adaptec an amount equal to the decrease in per-unit price multiplied by the number of units in the then-existing Unique Inventory.


More Definitions of Unique Inventory

Unique Inventory shall have the meaning ascribed in Clause 30.1. 1.1. 100 “US$” and “USD” mean the lawful currency of the United States of America.
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Related to Unique Inventory

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

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Product Inventory means all inventory owned as of the Closing by Seller or any Affiliate thereof of finished Product that is in conformance with the Specifications and has an expiration date of October 1, 2016 or later, regardless of whether such inventory is held at a location or facility of Seller or any Affiliate (or of any other Person on behalf of Seller or any Affiliate, including in any of Seller’s warehouses, manufacturers, suppliers, distributors or consignees) or in transit to or from Seller or any Affiliate (or any such other Person).

  • Consigned Inventory means Inventory of any Borrower that is in the possession of another Person on a consignment, sale or return, or other basis that does not constitute a final sale and acceptance of such Inventory.

  • 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.