Sales and Inventory Clause Samples

The Sales and Inventory clause establishes the rules and procedures governing the sale of goods and the management of inventory between the parties. It typically outlines how inventory levels are tracked, reported, and replenished, as well as the responsibilities for maintaining adequate stock and handling unsold goods. This clause ensures that both parties have a clear understanding of their obligations regarding product availability and stock management, thereby minimizing disputes and ensuring a smooth flow of goods.
Sales and Inventory. On and following the Marketed Products Closing, subject to Section 3.6.4, Hyperion shall be responsible for booking sales, stocking inventory and collecting accounts receivable for all Transferred Marketed Products.
View SourceView Similar (2)
Sales and Inventory. AstraZeneca shall be responsible for booking sales, stocking inventory for itself and its Sublicensees, distributing Product and Collaboration Product(s) and collecting accounts receivable.
View SourceView Similar (2)
Sales and Inventory. Any cost incurred for booking sales, stocking inventory for itself and its sublicensees, and collecting accounts receivable, including without limitation lost material or bad debt, is recoverable by the Lead Marketing Party to the extent provided under the terms of the Financial Appendix and subject to Section 7.3.
View Source
Sales and Inventory. The Seller will use reasonable efforts to maintain the current level of sales. Seller will keep Buyer apprised of weekly inventory levels and of any purchases or orders for raw materials in excess of $3,000.00. Seller will neither place nor accept any new blanket orders without the Buyer’s prior written approval. Seller will use its best efforts to maintain current inventory levels while still being able to maintain sufficient inventory to fill current and anticipated orders. Buyer agrees to keep Seller apprised of its desired inventory levels and Seller will use reasonable efforts to comply with Buyer’s requests.
View Source
Sales and Inventory. The Lead Marketing Party shall be responsible for booking sales, stocking inventory for itself and its sublicensees, and collecting accounts receivable. Any cost incurred in such activities, including without limitation lost material or bad debt, may be recoverable as provided under Allowable Commercialization Expenses.
View Source

Related to Sales and Inventory

  • As to Equipment and Inventory Grantor hereby agrees that it shall: (a) keep all the Equipment and Inventory (other than Inventory in transit and Inventory sold in the ordinary course of business) at the places therefor specified in Section 3.1.1 or, upon 30 days' prior written notice to Agent, at such other places in a jurisdiction where all representations and warranties set forth in Article III (including Section 3.1.6) shall be true and correct, and all action required pursuant to the first sentence of Section 4.1.7 shall have been taken with respect to the Equipment and Inventory; (b) with respect to any Equipment or Inventory in the possession or control of any Third Party or any of Grantor's agents, notify such Third Party or agent of Agent's security interest in such Equipment or Inventory and, upon Agent's request following the occurrence and during the continuance of an Event of Default, direct such Third Party or agent to hold all such Equipment or Inventory for Agent's account and subject to Agent's instructions; (c) cause the Equipment to be maintained and preserved in the same condition, repair and working order as when new, ordinary wear and tear excepted, and in accordance with any manufacturer's manual; and forthwith, or in the case of any material loss or damage to any of the Equipment, as quickly as practicable after the occurrence thereof, make or cause to be made all repairs, replacements, and other improvements in connection therewith which are necessary or desirable to such end; and promptly furnish to Agent a statement respecting any loss or damage to any of the Equipment within ten (10) business days after Grantor obtains knowledge of any such loss or damage; and (d) pay promptly when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including claims for labor, materials and supplies) against, the Equipment and Inventory, except to the extent the validity thereof is being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with Generally Accepted Accounting Principles have been set aside.

  • Equipment and Inventory With respect to any Equipment and/or Inventory of an Obligor, each such Obligor has exclusive possession and control of such Equipment and Inventory of such Obligor except for (i) Equipment leased by such Obligor as a lessee or (ii) Equipment or Inventory in transit with common carriers. No Inventory of an Obligor is held by a Person other than an Obligor pursuant to consignment, sale or return, sale on approval or similar arrangement.

  • 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 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.

  • 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.