Obsolete Stock Arising From Label Change Clause Samples

The "Obsolete Stock Arising From Label Change" clause addresses how parties will handle inventory that becomes unsellable due to changes in product labeling. Typically, this clause outlines the process for identifying affected stock, the responsibilities for disposing of or returning obsolete items, and any compensation or credit arrangements for the party holding the outdated inventory. Its core function is to allocate the risk and costs associated with label updates, ensuring that neither party is unfairly burdened when regulatory or branding changes render existing stock obsolete.
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Obsolete Stock Arising From Label Change. Any stock rendered obsolete by a change in the Product labelling requested by Company or required by any Regulatory Authority in the Territory shall, at the Company’s option, either be relabelled by or purchased from Pacira by Company at Pacira’s actual cost.
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