Common use of Reconciliation and Adjustment of Inventories Clause in Contracts

Reconciliation and Adjustment of Inventories. Reconciliation of ------------------------------------------------ inventory with charges to the Joint Account shall be made, and a list of overages and shortages shall be furnished to the Management: Committee within 6 months after the inventory is taken. Inventory adjustments shall be made by the Manager to the Joint Account for overages and shortages, but the Manager shall be held accountable to the Venture only for shortages due to lack of reasonable diligence. EXHIBIT C --------- TAX MATTERS -----------

Appears in 1 contract

Samples: Mining Venture Agreement (Western Goldfields Inc)

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Reconciliation and Adjustment of Inventories. Reconciliation of ------------------------------------------------ inventory with charges to the Joint Account shall be made, and a list of overages averages and shortages shall be furnished to the Management: Management Committee within 6 six (6) months after the inventory is taken. Inventory adjustments shall be made by the Manager to the Joint Account for overages averages and shortages, but the Manager shall be held accountable to the Venture only for shortages due to lack of reasonable diligence. EXHIBIT C --------- TAX MATTERS -----------.

Appears in 1 contract

Samples: Option Agreement

Reconciliation and Adjustment of Inventories. Reconciliation of ------------------------------------------------ inventory with charges to the Joint Account shall be made, and a list of overages and shortages shall be furnished to the Management: Management Committee within 6 six (6) months after the inventory is taken. Inventory adjustments shall be made by the Manager to the Joint Account for overages and shortages, but the . The Manager shall be held accountable to the Joint Venture only for shortages due to lack of reasonable diligence. EXHIBIT C --------- TAX MATTERS -----------MATTERS

Appears in 1 contract

Samples: In and Joint Venture Agreement (Pan American Lithium Corp)

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Reconciliation and Adjustment of Inventories. Reconciliation of ------------------------------------------------ inventory with charges to the Joint JointBusiness Account shall be made, and a list of overages and shortages shall be furnished to the Management: Management Committee within 6 six (6) months after the inventory is taken. Inventory adjustments shall be made by the Manager to the Joint JointBusiness Account for overages and shortages, but the Manager shall be held accountable to the Venture VentureCompany only for shortages due to lack of reasonable diligence. EXHIBIT C --------- TAX MATTERS -----------MATTERS

Appears in 1 contract

Samples: Venturelimited Liability Company Agreement

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