Inventory Shrinkage Sample Clauses

Inventory Shrinkage. 3PF does not anticipate inventory shrinkage for Stock held by 3PF. Shrinkage is an uncorrectable negative difference between physical and book inventory of stock. 3PF shall not be liable for any Customer losses as a result of inventory shrinkage, unless such shrinkage causes the inventory to fall below the Ninety-Eight and One-Half percent (98.5%) inventory accuracy level. 3PF shall be liable for the entire percentage of the discrepancy below this accuracy level. 3PF will replace such percentage of inventory below Printed 12/14/2001 11:57 AM Initials (3PF) /s/ [ILLEGIBLE] Initials (Rentrak) /s/ [ILLEGIBLE] Initials (RedEnvelope) /s/ [ILLEGIBLE] this accuracy level as determined by Customer's external auditor and at price equal to the Customer's cost for those items. Inventory accuracy shall be defined as inventory overages minus inventory shortages, as measured by dollar value of the discrepancy and a percentage of total inventory value at cost. The measurement period shall constitute the period of time between physical inventories, which shall be no fewer than one (1) time per calendar year, and no more than twelve (12) times per year, as determined by Customer. Accountability shall begin as product is received, using the physical counts by 3PF as a beginning inventory. Shortages will become payable only after two (2) consecutive inventory shortages. The net shortage or overage over the previous two (2) inventories shall be carried to the next inventory. Payment of the first shortage after two (2) consecutive shortages will be made thirty (30) days after reconciliation of the second shortage.
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Inventory Shrinkage. TDC shall compensate MANUFACTURER for inventory shrinkage in excess of reasonable and customary amounts, as defined by the formula set forth in Part C of Exhibit 1; provided that MANUFACTURER complies with the standard cost rules specified in this Section 5 as well as other applicable provisions of this Agreement. MANUFACTURER agrees to comply with TDC's established procedures and practices in place as of the date of this Agreement, of inventory related transactions, and to require their packagers to do the same. MANUFACTURER agrees that any errors or omissions made by MANUFACTURER personnel or MANUFACTURER's packagers are the responsibility of MANUFACTURER and are not covered by this Subsection 5.13. TDC agrees that any errors or omissions made by TDC personnel or agents of TDC are the responsibility of TDC, except for appropriate correction for prior entries under GAAP.
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Inventory Shrinkage. Genco will take physical inventories of the merchandise at the CRC Facility in accordance with the schedule and procedures agreed upon by the parties. It is understood and agreed that Genco shall only be responsible for the (i) slot check adjustments; (ii) damaged product; (iii) damaged during stocking; (iv) cycle counting; and (v) physical inventory adjustments inventory codes and that Streamline will be responsible for the eleven other inventory codes used at the CRC Facility. As part of each inventory, Genco will make a reconciliation of net inventory overages and shortages since the last inventory based upon the current physical count as compared to Genco's books and records from the last inventory on a unit basis. All such net overage and shortages that are covered by the five inventory codes specified in clauses (i)-(v) shall be charged to Genco at the unit cost of such merchandise then in effect; provided that no charge shall be made to Genco unless the shortage exceeds one percent (1%) of the total annual dollar volume handled in the CRC Facility for the most recently ended Contract Year. All overage shall accrue to the benefit of Streamline. Such overage shall be carried forward and used to offset any future shortages that are covered by the five inventory codes specified in clauses (i)-(v). Damage or other claimed shortages shall be reconciled as a part of the physical inventory process. Genco will not be liable for damage caused to merchandise that is received by Genco in other than its original shipping carton including carton fillers. If, as a result of the taking of physical inventories, there are shortages that are covered by the five inventory codes specified in clauses (i)-(v) exceeding one percent (1%) of the total dollar volume of the merchandise handled in the CRC Facility for the most recently ended Contract Year, Genco shall reimburse Streamline for such losses and Streamline and Genco will immediately meet to determine what security measures shall be implemented to secure the CRC Facility. It is understood that Genco personnel will make all adjustments to the perpetual inventory and that Streamline personnel will not make any such adjustments. Genco will xxxx Streamline for the time required to perform inventory services pursuant to this Section 3.07(b), which services shall be considered as an Additional Service.
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Inventory Shrinkage. Tu Pack will take all reasonable precautions to maintain the stock in a secure environment. It will be accessible by Tu Pack employees or agents except by prior agreement with the Customer. Tu Pack retains accurate and contemporaneous records in the Warehouse. Tu Pack will perform full stock counts on a minimum of a bi-annual basis, at a time determined by the Company. Tu Pack does not anticipate inventory shrinkage for Stock held by Tu Pack. Shrinkage is an uncorrectable negative difference between the physical and book inventory of Stock on Tu Pack’s WMS. Tu Pack shall not be liable for any Customer losses as a result of inventory shrinkage unless such shrinkage causes the inventory to fall below the Ninety-nine point five percent (99.5%) inventory accuracy level. Tu Pack shall be liable for the entire percentage of the discrepancy below this accuracy level. Tu Pack will replace such a percentage of inventory below this accuracy level at the price equal to the Customer’s cost price. Inventory accuracy shall be defined as inventory overages minus inventory shortages, as measured by the pound (GBP) value of the discrepancy as a percentage of total inventory value at cost. The measurement period shall constitute the period of time between physical inventories, which shall be no fewer than two (2) times per calendar year, and no more than four (4) times per year, as determined by the Customer. Accountability shall begin upon receipt of Stock, using the physical counts conducted by Tu Pack as the beginning book inventory.
Sample 1

Related to Inventory Shrinkage

  • Inventories The Operator shall maintain detailed records of Controllable Material.

  • Inventory To the extent Inventory held for sale or lease has been produced by any Borrower, it has been and will be produced by such Borrower in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder.

  • Inventory Adjustment (a) Within 30 days after the Closing Date, Sellers shall prepare and deliver to Buyer a statement (the "Closing Inventory Statement") setting forth the type and value, as of the close of business on the day immediately preceding the Closing Date, of the inventory of the Business, which statement shall be derived from a physical taking of such inventory as of such date and shall value inventory on the basis of the lower of cost or market value utilizing a first-in, first-out method in a manner consistent with Sellers' and the Companies' past practices and the standards and principles used in the preparation of the Unaudited Consolidated Statement of Net Investment Assets of the Business as of September 25, 2004 and shall otherwise be prepared in a manner consistent with Sellers' and the Companies' past practices with respect to perpetual inventory records; provided, that all amounts denominated in Canadian dollars that are part of the calculation of the value of inventory pursuant to this Section 2.05 shall be converted into U.S. dollars using the Closing Date Exchange Rate. Buyer and its representatives shall have such opportunity as Buyer reasonably deems appropriate to observe the taking and reconciliation of such inventory (which may begin prior to the Closing Date) in connection with the preparation of the Closing Inventory Statement. Buyer shall provide Sellers and their accountants, upon reasonable notice, such access to the books and records, to any other information, including working papers of Buyer's accountants, and to any employees of Buyer and its affiliates, in each case as may be reasonably necessary for Sellers to take such physical inventory, prepare the Closing Inventory Statement, respond to the Buyer's Inventory Objection (as defined in Section 2.05(b)) and prepare materials for presentation to the Arbitrator in connection with the matters contemplated by Section 2.05(c). If necessary, Buyer shall, after Closing, also provide or cause to be provided to Sellers and their designees such access as such persons may reasonably request to all facilities at which inventory of the Business is located in order to conduct such physical inventory. For the avoidance of doubt, the inventory of the Business to be valued pursuant to this Section 2.05 consists of the Inventory and all inventory of the Companies.

  • Inventory and Supplies Administrator shall order, purchase and provide to the Group on a timely basis inventory and supplies, and such other ordinary, necessary or appropriate materials which are requested by the Group and which the Group shall reasonably determine to be necessary in the operation of the Practice on the same terms commercially available to Administrator. Such inventory, supplies and other materials shall be included in Practice Expenses at their cost to Parent or Administrator, as the case may be.

  • Accounts Receivable; Inventory (a) For each Account with respect to which Advances are requested, on the date each Advance is requested and made, such Account shall be an Eligible Account.

  • Accounts Receivable; Inventories The accounts receivable of Seller reflected in the Unaudited Financial Statements and the accounts receivable aging report set forth in Schedule 5.21, as well as such additional accounts receivable as are reflected on the books of Seller on the date hereof, are (except to the extent reserved in accordance with GAAP) valid, genuine and subsisting, arise out of bona fide sales and deliveries of goods, performance of services or other business transactions and to Seller's Knowledge, are not subject to defenses, deductions, set-offs or counterclaims. The inventories reflected on the Unaudited Financial Statements and held by Seller on the date hereof, net of reserves therefor in accordance with GAAP, are usable or saleable in the ordinary course of Business. Such inventories have been reflected on the Unaudited Financial Statements at the lower of cost or market value (taking into account the usability or salability thereof) in accordance with GAAP. None of such inventories have been written up in value or repurchased by, or returned to, Seller at an increased value. All such inventories are owned free and clear and are not subject to any Lien except to the extent reserved against or reflected in the Financial Statements. Since the Financial Statement Date, inventories of raw materials, supplies and products have been purchased by Seller in the ordinary course of the Business, consistent with anticipated seasonal requirements, and the volumes of purchases thereof and orders therefor have not been reduced or otherwise changed in anticipation of the transactions contemplated by this Agreement. Except as set forth in Schedule 5.21 hereto, Seller does not have any Knowledge of any conditions affecting the supply of materials or products available to Seller and, to the Knowledge of Seller, the consummation of the transactions contemplated hereby will not adversely affect any such supply.

  • Inventory and Equipment On the date hereof, the Inventory and the Equipment (other than mobile goods) are kept at the locations listed on Schedule 5.

  • Merchantable Inventory All Inventory is in all material respects of good and marketable quality, free from all material defects.

  • Inventory Records Each Loan Party keeps correct and accurate records itemizing and describing the type, quality, and quantity of its and its Subsidiaries’ Inventory and the book value thereof.

  • Inventory Management The Subrecipient must submit an annual statement identifying the status of all equipment and non-real property items purchased with ESG funds by the contract termination date. The status report should inventory all equipment and non-real properties purchased with ESG funds and state the condition of the equipment and its location.

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