Taking of Inventory Clause Samples

The 'Taking of Inventory' clause establishes the procedures and requirements for conducting a formal count and assessment of goods, materials, or assets held by a party. Typically, this clause outlines when inventories must be taken—such as at the start or end of a contract, during audits, or at regular intervals—and may specify who is responsible for performing the inventory and how discrepancies should be handled. Its core practical function is to ensure accurate record-keeping and accountability for physical assets, thereby reducing the risk of loss, theft, or mismanagement.
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Taking of Inventory. 9.3.1 After Closing, Sellers Group shall draw up the Closing Statement. To that end, Purchaser shall permit Sellers Group and their respective representatives during normal business hours to have reasonable access to all of the Purchased Items and to examine and make copies of the books and records of HAPA AG and, to the extent relevant, the books and records relating to the Purchased Items for the purpose of preparing a proposed Closing Statement. Purchaser shall assist Sellers Group in connection with the physical inventory of the inventory included in the Purchased Items. Such Purchaser assistance shall mean, in the case of the inventory of HAPA AG and the LAETUS Assets, the taking of the inventory by Purchaser’s employees, with Sellers Group permitted to observe the taking of the inventory in a manner comparable to that of an independent auditor who was engaged to render an audit opinion with respect to the subject inventory. 9.3.2 With the respect to the taking of the inventory included in the SSC Assets, Section 9.3.1 shall apply mutatis mutandis with the proviso that such taking of inventory shall be conducted jointly be Sellers Group and Purchaser on the first Business Day after the Closing Date which is also a business day at the place such inventory is located.
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Taking of Inventory. As the last act of Closing, the parties shall conduct an inventory of the items specified in Section 2.16 The results of the inventory shall be attached to this Agreement as Schedule 2.16.
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Taking of Inventory. 40.01 The physical counts of the products will be done by the members of the bargaining unit and these counts will then be recorded by a Company employee appointed by management, who may or may not be a member of the bargaining unit. After the initial inventory has been taken, any recounts required will be retaken by an employee chosen by the Company's auditor, who may or may not be a member of the bargaining unit.
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Taking of Inventory. As the last act of closing, the Parties shall conduct an inventory of the items specified in Section
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Taking of Inventory. Not earlier than the day after the Closing Date, Sellers shall take or cause to be taken an inventory of all items of Inventory at or in transit to each Real Property being conveyed to Buyer (the "Closing Inventory") as follows:
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Taking of Inventory 
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Related to Taking of Inventory

  • Location of Inventory Except as set forth in Schedule 4.24, the Inventory of the Loan Parties and their Subsidiaries is not stored with a bailee, warehouseman, or similar party and is located only at, or in-transit between, the locations identified on Schedule 4.24 to this Agreement (as such Schedule may be updated pursuant to Section 5.14).

  • Sale of Inventory Purchaser shall purchase (or shall cause its Affiliates to purchase) the Inventory in separate transactions in accordance with the terms and conditions contained in the Supply Agreement. It is agreed and understood by and between the Parties that the Purchase Price does not include the Inventory.

  • Location of Inventory and Equipment The Inventory and Equipment are not stored with a bailee, warehouseman, or similar party (without Foothill's prior written consent) and are located only at the locations identified on Schedule 6.12 or otherwise permitted by Section 6.12.

  • Waiver of Inventory, Accounting and Appraisal Requirement The Trustee shall be relieved of, and each Certificateholder hereby waives, any requirement of any jurisdiction in which the Trust, or any part thereof, may be located that the Trustee file any inventory, accounting or appraisal of the Trust with any court, agency or body at any time or in any manner whatsoever.

  • Returns of Inventory No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.