INVENTORY AND WORK-IN-PROGRESS Sample Clauses

The INVENTORY AND WORK-IN-PROGRESS clause defines how inventory and unfinished goods are managed, tracked, and accounted for during the course of a contract or business relationship. It typically outlines the responsibilities of each party regarding the ownership, storage, and valuation of materials and products that are in various stages of completion. For example, it may specify how work-in-progress is reported, who bears the risk of loss, and how inventory levels are maintained or audited. The core function of this clause is to ensure transparency and accountability in the handling of inventory and work-in-progress, thereby reducing disputes and clarifying each party's obligations.
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INVENTORY AND WORK-IN-PROGRESS. The parties acknowledge that the OptiNose Components are significant inputs to the DSAs by value and that the OptiNose Components will be the property of OptiNose at all times that such OptiNose Components are in VTM’s possession. [***], VTM shall not [***].
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INVENTORY AND WORK-IN-PROGRESS. The parties acknowledge that the OptiNose Components are the substantial majority of the inputs to the LDSAs by value and that the OptiNose Components will be the property of OptiNose at all times that such OptiNose Components are in Ximedica’s possession. Accordingly, the parties agree that as other Material becomes integrated with the OptiNose Components as part of the manufacturing process to produce LDSAs, such partially completed LDSAs immediately without further action shall be the property of OptiNose, and that completed LDSAs still in the possession of Ximedica are the property of OptiNose at all times Ximedica shall not [***].
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INVENTORY AND WORK-IN-PROGRESS. The value of inventory and work-in-progress reflected in the financial statements of Anawa and the Subsidiaries has been established in accordance with Swiss GAAP and there has been no material change in the period subsequent to December 31, 1997, other than in the ordinary and usual courses of business.
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INVENTORY AND WORK-IN-PROGRESS. All inventory and work in progress, including samples, displays and/or prototypes, listed on Schedule 1.1(b) attached hereto;
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INVENTORY AND WORK-IN-PROGRESS. The value of inventory and work-in-progress reflected in the financial statements of Clinserve and the Subsidiary has been established in accordance with Swiss and German GAAP, respectively, and there has been no material change in the period subsequent to August 31, 1998, other than in the ordinary and usual courses of business.
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INVENTORY AND WORK-IN-PROGRESS. The value of inventory and work-in-progress reflected in the financial statements of ITEM Holding, ITEM SA, ITEM Labo and ITEM International has been established in accordance with French GAAP and there has been no material change in the period subsequent to May 31, 1997. The value of inventory and work-in-progress reflected in the financial statements of ITEM Pharma and ITEM Spain have been established in accordance with Spanish GAAP and there has been no material change in the period subsequent to May 31, 1997. The value of inventory and work-in-progress reflected in the financial statements of Verum TIL Occam has been established in accordance with English GAAP and there has been no material change in the period subsequent to May 31, 1997.
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INVENTORY AND WORK-IN-PROGRESS. All Inventory and work-in-progress of Seller or VMS reflected on the Recent Statements consist of quality and quantity useable or saleable in the ordinary course of business, has a commercial value at least equal to the value shown on such balance sheet and is valued in accordance with GAAP at the lower of cost (on a FIFO basis) or market. All Inventory purchased since the date of the Recent Statements consists of a quantity and quality useable or saleable in the ordinary course of business. All work-in-progress is of a quality ordinarily produced in accordance with the requirements of the orders to which such work-in-progress is identified.
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INVENTORY AND WORK-IN-PROGRESS. Upon any early termination of the licenses granted hereunder, Licensee, Affiliates, and any Sublicensees whose rights to Licensed Patent Rights do not survive such termination shall be entitled to finish any work-in-progress and to sell any completed inventory of Licensed Products which remain on hand as of the termination date or Licensed Products resulting from the completion of any work-in-progress, so long as Licensee, Affiliates, and such Sublicensees sell such inventory or Licensed Products in the normal course of business and at regular selling prices and Licensee pays to TSRI the royalties applicable to such subsequent sales in accordance with the provisions of this Agreement, provided that no such sales shall be permitted following the date that is [*] ([*]) months after the termination date.
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Related to INVENTORY AND WORK-IN-PROGRESS

  • 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.

  • 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.

  • Location of Inventory and Equipment The Inventory and Equipment are not stored with a bailee, warehouseman, or similar party (without Foothill's prior written consent) and are located only at the locations identified on Schedule 6.12 or otherwise permitted by Section 6.12.

  • Location of Equipment and Inventory All Equipment and Inventory are (i) located at the locations indicated on Schedule 4 (ii) in transit to such locations or (iii) in transit to a third party purchaser which will become obligated on a Receivable to the Debtor upon receipt. Except for Equipment and Inventory referred to in clauses (ii) and (iii) of the preceding sentence, the Debtor has exclusive possession and control of the Inventory and Equipment.

  • SIGNIFICANT LANDS INVENTORY FINDING Find that this activity is consistent with the use classification designated by the Commission for the land pursuant to Public Resources Code section 6370 et seq.