03Projected Closing Inventory Value Clause Samples

03Projected Closing Inventory Value. Included in the Purchase Price is the projected inventory valuation of $3,500,000, which value includes the projected quantities and values of stored unrefined or pre-sales oil or oil products (“Unrefined Crude”), plus the projected quantities and values of stored refined or pre-sales oil or oil products (“Finished Products”). The value of the Unrefined Crude shall be the cost of the Unrefined Crude plus the cost of delivery (“Delivered Unrefined Crude”). The value of the Finished Products shall be the cost of the Delivered Unrefined Crude plus the Direct Production Costs (defined as consisting solely of direct production salaries and wages (including payroll taxes), energy and utilities, chemicals, laboratory and product testing costs) to refine the Unrefined Crude. Schedule 1.03 sets forth an estimate by Seller of the Unrefined Crude, Finished Products and Delivered Unrefined Crude (the “Seller’s Inventory Calculation”).