Management of Inventory Sample Clauses

Management of Inventory. Within 30 days after the date of this Agreement, MiniMed will establish in its stockroom/warehouse facilities space dedicated to the implantable pump system inventory. When such space has been established, MiniMed will notify MRG, and thereafter MRG will manage the physical inventory and will bear the entire risk of loss thereof. MiniMed will also provide MRG with access to certain joint use common areas, including receiving inspection. MRG will insure the inventory against loss or damage by fire, perils commonly covered by the extended coverage endorsement, malicious mischief and sprinkler damage to the extent of the full replacement cost thereof and will carry such insurance for the mutual benefit and protection of MiniMed and MRG. MRG shall deliver to MiniMed the policies of insurance or copies thereof or other evidence satisfactory to MiniMed of such coverage. Each insurer under such policies shall agree by endorsement on the policies issued or by independent instrument to MiniMed that it will give MiniMed 30 days prior written notice of the effective date of any alternation or cancellation of any such policy. The obligations of the parties under this paragraph shall terminate upon termination or expiration of the term of the Lease entered into pursuant to Section 5, except that MRG's obligations with respect to insurance shall terminate as such earlier date as MiniMed exercises its option to cause MRG to purchase the Equipment pursuant to Section 2.4 and the inventory pursuant to Section 3.3. MiniMed will provide MRG with such assistance as MRG may reasonably request in establishing an inventory tracking system. The parties acknowledge their understanding and agreement that any such system will be established in a manner which maintains the independent integrity of MiniMed's information systems and does not afford MRG personnel access to those systems. All direct out-of-pocket costs and expenses and a proportional portion of personnel costs and expenses incurred by MiniMed in connection with assisting MRG to establish the inventory tracking system will be reimbursed by MRG promptly upon delivery of written request accompanied by appropriate documentation with respect to the costs and expenses.

Management of Inventory. (a) Vendor Managed Inventory. "Vendor Managed Inventory" or "VMI" means a program whereby the Parties agree that Supplier will stock and maintain certain Items at specified locations, with Supplier retaining title to, and risk of loss with respect to, the Items until such Items are procured by Applied or its designee in accordance with the terms and conditions of such program. In the event the Parties agree that certain Items will be included within the VMI program ("VMI Items"), Supplier agrees to manufacture and stock such VMI Items in accordance with any authorized inventory planning and collaboration tool provided to Supplier by Applied.

Management of Inventory. The Parties will ensure that enterprises will apply appropriate systems in the management of this Appendix provided that the systems are based on generally accepted accounting principles.

Management of Inventory. (a) [* *] Inventory. “[* *] Inventory” or “[* *]” means a program whereby the Parties agree that [* *] will stock and maintain certain Items at specified locations, [* *], the Items until such Items are [* *] in accordance with the terms and conditions of such program. In the event Applied designates certain Items to be included within the [* *] program and Supplier agrees to such designation (“[* *] Items”) by reporting a [* *] “Target Inventory” quantity for that Item in an authorized inventory planning and collaboration tool provided to Supplier by Applied (or otherwise providing Supplier with written or electronic notice of such designation), Supplier agrees to manufacture [* *] such [* *] Items in accordance with: (i) any authorized inventory planning and collaboration tool provided to Supplier by Applied; and/or (ii) if requested by Applied a separate [* *] agreement between Applied and Supplier in form [* *].

Management of Inventory. During the term of this Agreement, IGI ----------------------- shall use its best efforts to manage the production schedules with respect to the manufacture of the Products such that the actual finished goods inventory of the Products shall not exceed, nor be less than, the Target Inventory Level.

Management of Inventory. (a) Debtor does now keep and hereafter at all times shall keep correct and accurate records itemizing and describing the kind, type, quality and quantity of the inventory, Debtor’s cost therefor and selling price thereof, and the daily withdrawals therefrom and additions thereto, all of which records shall be available upon demand to Lender’s officers, agents and employees for inspection and copying. (b) Debtor, immediately upon demand by Lender therefor, shall now and from time to time hereafter, at such intervals as are requested by Lender, deliver to Lender designations of inventory specifying Debtor’s cost of inventory, the wholesale market value thereof and such other matters and information relating to the inventory as Lender may request. (c) inventory is not now and shall not at any time or times hereafter be located or stored with a bailee, warehouseman or other third party without Lender’s prior written consent, which will not be unreasonably withheld, and, in such event, Debtor will concurrently therewith cause any such bailee, warehouseman or other third party to issue and deliver to Lender, in a form acceptable to Lender, warehouse receipts in Lender’s name evidencing the storage of inventory, collateral access agreements, or other evidence of Lender’s prior rights in the inventory. In any event, Debtor shall instruct any third party to hold all such inventory for Lender’s account subject to the security interest of Lender and its instructions. (d) Lender shall have the right, at all times, during Debtor’s normal business hours, or during the regular business hours of any third party having custody of or control over inventory, to inspect and examine the inventory and to check and test the same as to quality, quantity, value and condition, and Debtor agrees to reimburse Lender on demand for its reasonable costs and expenses in so doing, which expenses shall constitute Lender expenses. (e) Until the occurrence of an Event of Default, Debtor may, subject to the provisions hereof and consistent herewith, sell the inventory, but only in the ordinary course of Debtor’s business and for full and fair consideration. A sale of inventory in Debtor’s ordinary course of business does not include an exchange or a transfer in partial or total satisfaction of a debt owing by Debtor. After an Event of Default, Debtor shall not sell any inventory, other than in the ordinary course of business, without Lender’s prior written consent.

Management of Inventory is replaced with the following: (a) Designation of Inventory Liability Items. Applied may designate certain finished good Items as “Inventory Liability Items” by (i) [**] for that Item in an authorized inventory planning tool, or (ii) identifying an Item as [**], or otherwise [**] with written or electronic notice of such designation. So that [**], Supplier shall actively maintain accurate lead times for all Items in such authorized inventory planning tool, using the definition of “lead time” designated by Supplier from time to time for this purpose. Supplier agrees to manufacture and stock such Inventory Liability Items in accordance with this Section 16; and/or, if requested by [**], a [**] agreement between Applied and Supplier.

Management of Inventory