Consignment Stock Scheme Sample Clauses

Consignment Stock Scheme. 5.1 The Sellers shall, at the request of and within the time required by the Buyer, deposit such quantities of Goods at the designated Hospital premises as consignment stock under the Consignment Stock Scheme for use by the Buyer on an “as and when required basis”. The Seller will be notified (without affecting or otherwise relieving the responsibilities of the Seller as set out in sub-clauses 5.3 and 5.5 of these T&Cs below) when the Goods are taken out from the consignment stock for use by the Buyer. 5.2 Title and risk of all Goods deposited and stored at the Hospital premises under the Consignment Stock Scheme shall remain with the Seller until the Goods are taken out from the consignment stock for use by the Buyer. Neither the Authority, nor any Hospital where consignment stock is stored, shall be liable for any loss of or damage to the Goods when they are deposited and stored at Hospital premises, whether or not due to any act or omission of the Authority, its staff or employees. 5.3 The Seller shall be solely responsible for carrying out all appropriate inspections and checking of the Goods which are deposited and stored at Hospital premises from time to time under the Consignment Stock Scheme, so as to assure that the Goods are in good condition and to be replaced if they are expired, and stock take the Goods for audit and replenishment purposes. 5.4 The Buyer’s sole responsibilities to the Seller in connection with the Goods deposited under the Consignment Stock Scheme shall be to: (a) permit the placement of the Goods at the Hospital premises; (b) take reasonable care to prevent tampering with, or theft of, the Goods; (c) store and handle the Goods in accordance with any instructions provided by the Seller as set out in Schedule C; and (d) provide reasonable assistance to the Seller to conduct stock taking and inspection at Hospital premises; Apart from the foregoing, the Buyer shall have no other responsibilities to the Seller whatsoever. 5.5 The Seller shall conduct regular checks on the stock under the Consignment Stock Scheme from time to time during the Validity Period and (a) top up the quantities of the Goods to the level as required by the Buyer; and (b) replace the Goods which have passed their expiry dates. 5.6 The Seller shall also be responsible to keep track of the products in the consignment stock in respect of: (a) traceability of the products (e.g. batch/lot number); (b) product expiry date, if applicable; (c) replacement of expire...
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Consignment Stock Scheme. 1.1 The Consignment Stock Scheme is intended to permit Hospitals to have available quantities of Goods, as consignment stock supplied under Stock Orders, for use by Buyers, as and when needed. 1.2 Title and risk of all Goods within the Consignment Stock Scheme shall remain with the Seller until the Goods are the subject of a Purchase Order and implanted into the Buyer. Neither HA, nor any Hospital where consignment stock is stored, shall be liable for any loss of or damage to the Goods whilst in its possession or under its control within the Consignment Stock Scheme, whether or not due to any act or omission of HA, its staff, employees or patients. 1.3 The Seller shall be solely responsible for carrying out all appropriate inspections and checking of the Goods under the Consignment Stock Scheme both to assure the quality and to check the expiry period and the balance of such stock from time to time. 1.4 The HA’s sole responsibilities to the Seller in connection with the Goods placed at a hospital / institution premises under the Consignment Stock Scheme shall be to: (a) permit the placement of the Goods at the Hospitals; (b) take reasonable care to prevent tampering with, or theft of, the Goods (c) store and handle the Goods in accordance with any instructions provided by the Seller set out in Schedule D. Apart from the foregoing, the HA shall have no other responsibilities to the Seller whatsoever.
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Related to Consignment Stock Scheme

  • Restricted Stock Grant As a member of Employer’s senior management team, Employee will be eligible for annual Restricted Stock Grants pursuant to Anaren’s 2004 Comprehensive Long Term Incentive Plan, as amended (“2004 Plan”) equal in value to 22% of his Base Salary for the respective year. Restrictive Stock Grants will be made annually at the same time other Restricted Stock Grants are made by Anaren to its senior management team, provided Employee is employed with Employer on that date. All Restricted Stock grants issued pursuant to this provision will be subject to the terms of the 2004 Plan, including, but not limited to, a thirty-six (36) month forfeiture provision. Notwithstanding anything to the contrary, in the event Employee’s employment concludes on or after the expiration of the Period of Employment, Employee shall be entitled if the forfeiture period has not otherwise lapsed only to a pro rata portion of each unvested Restricted Stock Grant based on the number of months employed by Employer from the date of grant to the expiration of the Period of Employment date. In the way of example, if Employee has been employed for 18 months of the 36 month forfeiture period at the end of his Period of Employment, he will receive 50% of the Restricted Shares granted. If Employee remains employed by Employer on a full time basis (30 hours or more per week) after the Period of Employment as an at-will Employee, all previously issued restricted stock shall continue to vest in accordance with the terms of the 2004 Plan.

  • Employee Stock Unless otherwise approved by the Board of Directors, including the Lead Preferred Director, all future employees and consultants of the Company who purchase, receive options to purchase, or receive awards of shares of the Company’s capital stock after the date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for (i) vesting of shares over a four (4) year period, with the first twenty-five percent (25%) of such shares vesting following twelve (12) months of continued employment or service, and the remaining shares vesting in equal quarterly installments over the following thirty-six (36) months, and (ii) a market stand-off provision substantially similar to that in Subsection 2.11. In addition, unless otherwise approved by the Board of Directors, including the Lead Preferred Director, the Company shall retain a “right of first refusal” on employee transfers until the IPO and shall have the right to repurchase unvested shares at cost upon termination of employment of a holder of restricted stock.

  • Nonstatutory Stock Option If the Grant Notice so designates, this Option is intended to be a Nonstatutory Stock Option and shall not be treated as an Incentive Stock Option within the meaning of Section 422(b) of the Code.

  • Employee Stock Purchase Plan The Company shall take all requisite action with respect to the Company’s 2000 Employee Stock Purchase Plan, as amended (the “Company ESPP”), to ensure that (i) all outstanding Company Purchase Rights (as defined in Section 4.02) will be exercised no later than three (3) Business Days prior to the Expiration Date, (ii) no Company Purchase Rights will be issued and outstanding as of the Expiration Date, (iii) conditioned upon the occurrence of the Closing, the Company ESPP will be terminated no later than the Effective Time, and (iv) no additional offering periods shall commence on or after the Expiration Date. The Company shall deliver to Parent prior to the Expiration Date sufficient evidence that the Company ESPP will be terminated as of the Effective Time, conditioned upon the occurrence of the Closing. In addition, prior to the Effective Time, the Company shall take all actions (including, if appropriate, amending the terms of the Company ESPP and the terms of any offering period(s) commencing prior to the Expiration Date) that are necessary to provide that, as of the Effective Time, participants and former participants in the Company ESPP shall cease to have any right or interest thereunder. Notwithstanding the foregoing, all actions taken and all amendments made pursuant to this Section 3.06 shall be taken or made in compliance with Sections 423 and 424 of the Code and so as not to result in a “modification” under such Sections. All Shares issued in connection with the exercise of the Company Purchase Rights shall be, at the Effective Time, converted into the right to receive the Merger Consideration in accordance with, and pursuant to, the terms and conditions of this Agreement.

  • Registration of Common Stock Cashless Exercise at Companys Option The Company agrees that as soon as practicable after the closing of its initial Business Combination, it shall use its best efforts to file with the SEC a registration statement for the registration, under the Act, of the shares of Common Stock issuable upon exercise of the Warrants, and it shall use its best efforts to take such action as is necessary to register or qualify for sale, in those states in which the Warrants were initially offered by the Company and in those states where holders of Warrants then reside, the shares of Common Stock issuable upon exercise of the Warrants, to the extent an exemption is not available. The Company will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement until the expiration of the Warrants in accordance with the provisions of this Agreement. If any such registration statement has not been declared effective by the 60th Business Day following the closing of the Business Combination, holders of the Warrants shall have the right, during the period beginning on the 61st Business Day after the closing of the Business Combination and ending upon such registration statement being declared effective by the SEC, and during any other period when the Company shall fail to have maintained an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, to exercise such Warrants on a “cashless basis” as determined in accordance with Section 3.3.1(d). The Company shall provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities law experience) stating that (i) the exercise of the Warrants on a cashless basis in accordance with this Section 7.4 is not required to be registered under the Act and (ii) the shares of Common Stock issued upon such exercise will be freely tradable under U.S. federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Act) of the Company and, accordingly, will not be required to bear a restrictive legend. For the avoidance of any doubt, unless and until all of the Warrants have been exercised on a cashless basis, the Company shall continue to be obligated to comply with its registration obligations under the first three sentences of this Section 7.4.