INVENTORY SYSTEM. Dealers shall maintain a perpetual inventory system, keeping accurate records itemizing and describing the kind, type, age, quality, quantity and cost of Eligible Inventory and withdrawals and additions. Such records shall be available for inspection during each Dealer's usual business hours upon 2 days notice by TCFC or immediately upon notice if Dealer is in Default. Dealers shall conduct a physical count of Inventory at least once each quarter, and promptly report the results to TCFC in form and with such specificity as TCFC shall reasonably require.
Appears in 1 contract
Sources: Accounts Receivable and Inventory Financing Agreement (Pacific Magtron International Corp)
INVENTORY SYSTEM. Dealers Dealer shall maintain a perpetual inventory system, keeping accurate records itemizing and describing the kind, type, age, quality, quantity and cost of Eligible Inventory and withdrawals and additions. Such records shall be available for inspection during each Dealer's usual business hours upon 2 days notice by at the request of TCFC or immediately upon notice if its designee. Dealer is in Default. Dealers shall conduct a physical count of Inventory at least once each quarter, and promptly report the results to TCFC in form and with such specificity as TCFC shall reasonably require.
Appears in 1 contract
Sources: Accounts Receivable and Inventory Financing Agreement (Authentidate Holding Corp)