WIP Inventory. All WIP Inventory reflected on the balance sheet included in the FY2024 FS consists of a quality and quantity usable and saleable in the ordinary course, except for slow-moving, damaged, defective, expired, or obsolete items (all of which have been written down to net realizable value or for which adequate reserves have been provided and all intercompany profit or other mark-up has been eliminated) and lots on hold. All WIP Inventory purchased since September 30, 2024 consists of a quality and quantity usable and saleable in the ordinary course. All WIP Inventory is located at, or is in transit to or from, (i) the Real Property or (ii) the real properties located at the physical addresses of ▇▇▇▇ ▇ ▇▇▇▇ ▇ ▇, ▇▇▇▇, ▇▇▇▇▇ or ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇. No WIP Inventory is held on a consignment basis.
Appears in 3 contracts
Sources: Membership Interest Purchase Agreement (SkyWater Technology, Inc), Membership Interest Purchase Agreement (SkyWater Technology, Inc), Membership Interest Purchase Agreement (SkyWater Technology, Inc)