Excess and Obsolete Materials Sample Clauses

The Excess and Obsolete Materials clause defines how materials that are no longer needed for a project, or that have become outdated, are identified and managed. Typically, this clause outlines the process for determining when materials are considered excess or obsolete, the responsibilities for their disposal or return, and any associated costs or credits. Its core function is to prevent waste and clarify financial responsibility, ensuring that surplus or unusable materials are handled efficiently and fairly between the parties.
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Excess and Obsolete Materials. [*] the materials purchased by Solectron subject to the terms of this Agreement, to support Brocade purchase orders, forecasted demand requirement, requested inventory build up and flexibility requirements as further detailed in the SLA. Excess and obsolete material will be managed according to the provisions of Exhibit H.
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Excess and Obsolete Materials. (i) Contractor and Buyer will work together to minimize the impact of excess material of obsolete materials related to the manufacture of Product. Changes to the design of the Product by the Buyer may create obsolete or excess inventory. Prior to implementing Buyer directed changes, Contractor will identify the potential impact to production and inventory, and will communicate the potential cost to the Buyer. Contractor will advise buyer of the best method to return materials on order or how to best implement changes based on dates which such changes become effective to reduce the impact on Buyer's cost. Buyer will be responsible for the cost of inventory that becomes excess or obsolete due to Buyer initiated changes. Any excess or obsolete inventories will be charged to the Buyer at Contractor's cost, but without profit. Disposition of excess or obsolete materials will be coordinated with the Buyer to minimize the impact of cost to the Buyer where possible. (ii) Any excess or obsolete inventory generated by Contractor initiated changes will be the sole responsibility of the Contractor.
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Excess and Obsolete Materials. 14.2.1 If, at any time, Materials on hand and/or on order become Excess and/or Obsolete Materials, and MSL has procured said Materials in accordance with this Agreement and used commercially reasonable efforts to minimize the quantities on hand and/or on order of such Excess and/or Obsolete Materials, MSL may require Emulex to purchase such Materials at MSL's cost, defined as the Materials' purchase price, plus any cancellation or restocking charges, plus the Material Acquisition Fee (3% of the Material purchase price for Salt Lake City, Utah. For other MSL facilities, such fee will be agreed between the parties). Emulex will provide to MSL an Order within ten days of being notified by MSL of Materials on hand and/or on order that are Excess or Obsolete, and will pay MSL within thirty days of receipt of MSL's invoice. 14.2.2 If Emulex desires to store Excess or Obsolete Materials at MSL, MSL will provide a consignment service to Emulex for a consignment fee to be mutually agreed to by Emulex and MSL. If Emulex provides MSL with an Order utilizing part or all of such Excess or Obsolete Materials, such Materials shall be invoiced by Emulex to MSL at the cost previously paid by Emulex to MSL in order to avoid duplicate payment by Emulex for the same Materials. 14.2.3 If Emulex elects not to store Excess or Obsolete Materials at MSL and instead elects to have such Materials shipped to Emulex or another destination designated by Emulex, MSL will ship such Materials FCA MSL's location.
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Excess and Obsolete Materials. (i) During the performance of this supply Agreement, Contractor will purchase materials to support the requirements of the Buyers program. Certain materials which Contractor will acquire will be subject to minimum-buy requirements and quantity price breaks which may result in excess material accumulation which will be the responsibility of the Buyer provided that Buyer has approved such purchases. Additionally, design changes may cause materials to become obsolete. Obsolete materials due to a design change will be returned to suppliers when possible. Non-returnable inventory will be charged and delivered to the Buyer. (ii) During the performance of this supply agreement, Contractor will provide the Buyer with periodic updates of the status and amount of excess or obsolete material. (iii) Contractor will use its best effort to minimize the impact of excess material and/or obsolete materials on Buyer's program. Contractor will return materials to suppliers for credit, less restocking fees, when appropriate. However, final costs associated with the accumulation of excess and obsolete materials are chargeable and payable by the Buyer. Any excess or obsolete inventories will be charged to the Buyer at Contractor's cost plus 20% material burden, but without profit. Disposition of excess or obsolete materials will be coordinated with the Buyer to minimize the impact of cost to the Buyer where possible. Buyer's targeted maximum obsolescence budget is $50,000 maximum.
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Excess and Obsolete Materials. 5.1 As of the date of this Amendment, Dade shall be responsible for the costs of any excess material (that is not reasonably usable) which results from specific Dade forecasts which have turned out to be substantially greater than actual Dade purchases from ▇▇▇▇▇▇. 5.2 As of the date of this Amendment, Dade shall also be responsible for obsolescence costs which result directly from any design changes originated by Dade and in connection with which a strategy of using up existing stock was expressly rejected by Dade. 5.3 Dade shall only be responsible for the costs described in sections 5.1 and 5.2 above if ▇▇▇▇▇▇ notifies Dade of such costs, and provides documentation reasonably satisfactory to Dade in support thereof, within one hundred and eighty (180) days of such cost occurrence. 5.4 All other costs related to excess or obsolete materials shall be borne by ▇▇▇▇▇▇. 5.5 This Amendment shall render null and void, and ▇▇▇▇▇▇ hereby expressly waives, any other claims by ▇▇▇▇▇▇ against Dade for costs of excess or obsolete material, which claims are based on facts existing or events occurring prior to the date of this Amendment.
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Related to Excess and Obsolete Materials

  • SIGNIFICANT CUSTOMERS; MATERIAL CONTRACTS AND COMMITMENTS The Company has delivered to TCI an accurate list (which is set forth on Schedule 5.15) of all customers (persons or entities) representing 1% or more of the Company's annual revenues for the year ended December 31, 1997; provided, however, that Schedule 5.15 need not set forth more than the Company's 20 largest customers during such period. Except to the extent set forth on Schedule 5.15, none of such customers have canceled or substantially reduced or, to the knowledge of the Stockholders, are currently attempting or threatening to cancel a contract or substantially reduce utilization of the services provided by the Company. The Company has listed on Schedule 5.15 all Material Contracts (as defined below) to which the Company is a party or by which it or any of its properties are bound, other than agreements listed on Schedules 5.10, 5.14 or 5.16, (a) in existence as of the Balance Sheet Date and (b) entered into since the Balance Sheet Date, and in each case has delivered true, complete and correct copies of such agreements to TCI. For purposes of this Agreement, the term "Material Contracts" includes contracts between the Company and significant customers (as described above), joint venture or partnership agreements, contracts with any labor organization, strategic alliances, options to purchase land and other contracts which are not terminable on sixty days or less notice and involve payments by the Company in any twelve-month period in excess of $25,000. The Company has also indicated on Schedule 5.15 a summary description of all plans or projects involving the opening of new operations, expansion of existing operations, the acquisition of any personal property, business or assets requiring, in any event, the payment of more than $25,000 by the Company during any 12- month period. To the knowledge of the Stockholders, all of the Material Contracts are in full force and effect and constitute valid and binding agreements of the parties (and their successors) thereto in accordance with their respective terms except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to the enforcement of creditors' rights generally and by general principles of equity.

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  • Significant Customers and Suppliers No customer or supplier which was significant to the Company during the period covered by the Financial Statements or which has been significant to the Company thereafter, has terminated or breached, materially reduced or threatened to terminate, breach or materially reduce its purchases from or provision of products or services to the Company, as the case may be.

  • Confidentiality; Sharing Information Agent, each Lender and each Transferee shall hold all non-public information obtained by Agent, such Lender or such Transferee pursuant to the requirements of this Agreement in accordance with Agent’s, such Lender’s and such Transferee’s customary procedures for handling confidential information of this nature; provided, however, Agent, each Lender and each Transferee may disclose such confidential information (a) to its examiners, Affiliates, outside auditors, counsel and other professional advisors, (b) to Agent, any Lender or to any prospective Transferees, and (c) as required or requested by any Governmental Body or representative thereof or pursuant to legal process; provided, further that (i) unless specifically prohibited by Applicable Law, Agent, each Lender and each Transferee shall use its reasonable best efforts prior to disclosure thereof, to notify the applicable Borrower of the applicable request for disclosure of such non-public information (A) by a Governmental Body or representative thereof (other than any such request in connection with an examination of the financial condition of a Lender or a Transferee by such Governmental Body) or (B) pursuant to legal process and (ii) in no event shall Agent, any Lender or any Transferee be obligated to return any materials furnished by any Borrower other than those documents and instruments in possession of Agent or any Lender in order to perfect its Lien on the Collateral once the Obligations have been paid in full and this Agreement has been terminated. Each Borrower acknowledges that from time to time financial advisory, investment banking and other services may be offered or provided to such Borrower or one or more of its Affiliates (in connection with this Agreement or otherwise) by any Lender or by one or more Subsidiaries or Affiliates of such Lender and each Borrower hereby authorizes each Lender to share any information delivered to such Lender by such Borrower and its Subsidiaries pursuant to this Agreement, or in connection with the decision of such Lender to enter into this Agreement, to any such Subsidiary or Affiliate of such Lender, it being understood that any such Subsidiary or Affiliate of any Lender receiving such information shall be bound by the provisions of this Section 16.15 as if it were a Lender hereunder. Such authorization shall survive the repayment of the other Obligations and the termination of this Agreement.