Inventory Storage Clause Samples

The Inventory Storage clause defines the terms under which inventory is stored by one party on behalf of another. It typically outlines responsibilities for maintaining, safeguarding, and managing the inventory, including details such as storage conditions, access rights, and liability for loss or damage. This clause ensures that both parties understand their obligations and risks regarding stored goods, thereby minimizing disputes and clarifying accountability for inventory management.
Inventory Storage. All goods tendered for storage shall be delivered to Company in a segregated manner, properly marked with necessary lifting, handling and shipping information, country of origin, product numbers, date of shipment and the names of the consignee and consignor and any other markings that may be required by law. The Facility maintains standard hours of operation for receiving goods. All goods received outside those standard hours of operation will be subject to hourly warehouse (including overtime as required) labor rates. All services provided by Company in connection with goods received outside those standard hours of operation will be billed at hourly labor rates with overtime. If Client arranges for trailers to be dropped at Company's facility, Company's responsibility for the contents does not begin until Company personnel begin unloading the trailer(s). In the event that goods tendered to Company do not conform to the description provided to Company by Client, Company may refuse to accept such goods. If Company accepts such Goods, Client agrees to pay the rates and charges as set forth in this Schedule and any exhibits attached hereto. Company is not a guarantor of the condition of such goods under any circumstances including but not limited to hidden, concealed, latent defects in the goods, or packaging inadequate for storage and shipping of goods. Concealed shortages, damage or tampering will not be the responsibility of Company. In no event will Company be liable for loss or damage caused by the events set forth in the Force Majeure section of this Schedule or the inherent vice or nature of the goods. Company may move goods within and between its warehouses in which they are stored as Company deems necessary to maintain storage and handling efficiencies. If Company in good faith believes that the goods are about to deteriorate or decline in value before the end of the next succeeding storage month, Company may immediately notify Client in writing of a reasonable time for removal of the goods and in case the goods are not removed, may sell them at public sale held one week after a single advertisement or posting as provided by law. If, as a result of a quality or condition of the goods of which Company had no notice at the time of deposit, the goods are a hazard to other property, the warehouse or to any person, Company shall immediately notify Client and Client shall immediately thereupon claim its interest in the said goods and remove them from the w...
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Inventory Storage. In addition to the space required for co-location of the Co-location Servers, Service Provider shall provide sufficient space to CTG for storage and safe- keeping of Inventory Assets.
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Inventory Storage. At times, we elect to purchase and store crude oil, LPG, natural gas and refined products inventory in conjunction with our supply and logistics activities. When we purchase and store inventory, we enter into physical sales contracts or use derivatives to mitigate price risk associated with the inventory. As of December 31, 2010, we had derivatives totaling approximately 16.7 million barrels hedging our inventory.
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Inventory Storage. All material shall be professionally stored in climate controlled facility in a manner which has been mutually agreed upon with Customer.
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Inventory Storage. The Shareholder and the Purchaser shall cooperate with one another to establish separate accounts and storage arrangements with third party warehouses where the inventory (the "Shareholder Inventory") of Shareholder and its affiliates (other than the Company), on the one hand, and the inventory (the "Company Inventory") of the Company, on the other hand, may be located in common. To the extent any such separate accounts and storage arrangements are not in effect by the Closing Date, Shareholder and Purchaser shall cooperate with each other in good faith to adjust as between themselves the respective costs to be borne by each of them for such storage services.
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Inventory Storage. Company will store all products and materials in a dry, easily accessible area and take all reasonable measures to protect all products and materials.
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Inventory Storage. SES to provide storage for inventory owned by a Seller Party or their Affiliates, as detailed in Schedule 2.2(a) - Excluded Assets – Mrkm Inventory Held in Reno 09 30 14 and Schedule 2.2(a) – Excluded Assets – Oxnard Inventory at Reno Listing, on a rent free basis for 60 days post-Closing. THIS GUARANTEE (this “Guarantee”), dated as of October 20, 2014, is executed by ▇▇▇▇▇▇▇▇▇▇▇▇ Exhaust Systems Inc., an Ontario corporation, and Northern Compass Enterprises Inc., an Ontario corporation (the “Guarantor”), in favor of the Seller Parties and the Seller Indemnitees (each as defined in the Agreement defined below).
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Inventory Storage. 16 SECTION 4.4 Maintenance of Records; Audit..........................16 SECTION 4.5 Consents...............................................16 SECTION 4.6
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Related to Inventory Storage

  • 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.

  • Inventories All of the Assets constituting inventory are owned or used by Company, are in good, current, standard and merchantable condition and are not obsolete or defective.

  • Inventory Management The Subrecipient must submit an annual statement identifying the status of all equipment and non-real property items purchased with ESG funds by the contract termination date. The status report should inventory all equipment and non-real properties purchased with ESG funds and state the condition of the equipment and its location.

  • Accounts Receivable; Inventory (a) For each Account with respect to which Advances are requested, on the date each Advance is requested and made, such Account shall be an Eligible Account. (b) All statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing the Eligible Accounts are and shall be true and correct and all such invoices, instruments and other documents, and all of Borrower’s Books are genuine and in all respects what they purport to be. All sales and other transactions underlying or giving rise to each Eligible Account shall comply in all material respects with all applicable laws and governmental rules and regulations. Borrower has no knowledge of any actual or imminent Insolvency Proceeding of any Account Debtor whose accounts are Eligible Accounts in any Transaction Report. To the best of Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible Accounts are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms. (c) For any item of Inventory consisting of Eligible Inventory in any Transaction Report, such Inventory (i) consists of finished goods, in good, new, and salable condition, which is not perishable, returned (except to the extent of any refurbished Inventory in salable condition), consigned, obsolete, not sellable, damaged, or defective, and is not comprised of demonstrative or custom inventory, works in progress, packaging or shipping materials, or supplies; (ii) meets all applicable governmental standards; (iii) has been manufactured in compliance with the Fair Labor Standards Act; (iv) is not subject to any Liens, except the first priority Liens granted or in favor of Bank under this Agreement or any of the other Loan Documents and the Liens permitted under clause (j) of the definition of Permitted Liens; and (v) is located at the locations identified by Borrower in the Perfection Certificate where it maintains Inventory (or at any location permitted under Section 7.2).

  • Inventory Records Each Loan Party keeps correct and accurate records itemizing and describing the type, quality, and quantity of its and its Subsidiaries’ Inventory and the book value thereof.