Common use of Closing Date Inventory Clause in Contracts

Closing Date Inventory. Sellers acknowledge that Hilco Appraisal Services, LLC ("Hilco") is conducting a verification of LTV's inventory (the "Physical Inventory") of slabs, raw materials, iron ore chips and Excess Supplies located at the Real Property and coal located at the Chicago Coke Battery. Buyer will notify LTV of the results of Hilco's verification (the "Verification Statement"). After the Closing Date and prior to the Second Closing, Sellers will reflect any adjustments that Buyer and Sellers determine to make to the Closing Date Inventory delivered pursuant to SECTION 3.2(b) of the Asset Purchase Agreement. Any adjustment to the Closing Date Inventory as a result of the Verification Statement or as otherwise agreed shall be final and binding for all purposes under the Asset Purchase Agreement. Seller shall not be obligated to make any adjustment reflected in the Verification Statement, and Buyer shall not waive any rights it may have pursuant to the Asset Purchase Agreement with respect to adjustments included in the Verification Statement that are not reflected in the Closing Date Inventory (or adjusted).