Assets and Inventory. 13.1. Assets purchased with Grant funding must only be used for delivery of the Funded Activities.
13.2. The Grant Recipient will ensure that a physical check of all Fixed and Programme Funded Assets takes place on at least an annual basis, establish and maintain an inventory of all Programme Funded Assets and provide it the Authority in line with Annex 3 (Payment and Reporting Schedule), and within 5 Working Days of being requested to do so. Where possible the Grant Recipient should undertake these checks directly.
13.3. For each entry in the inventory the following particulars must be shown where appropriate:
Assets and Inventory. As of the Effective Date, Seller will have good and marketable title in and to all of its assets and inventory, which is or will be free and clear of any security interests, consignments, liens, judgments, encumbrances, restrictions, or claims of any kind, other than as expressly provided in this Agreement.
Assets and Inventory. For the purpose of this Section, “capital asset” shall mean any single item, or a collection of items which form one identifiable functional unit, that is not physically incorporated into another product or not consumed by the end of the Project, has a purchase or lease value of more than $5,000 (before taxes).
i. selling it at fair market value and applying the funds realized from such sale to offset the funding of any Eligible Expenditures;
ii. turning it over to another organization or to an individual designated or approved by the UWC; or
iii. disposing of it in such other manner as may be determined by the UWC. Where the UWC elects to exercise its right under this section 6, the Applicant agrees to comply with the related direction provided by the UWC.
Assets and Inventory. 40.1. Assets purchased with Grant funding must only be used for delivery of the Funded Activities.
40.2. The Grant Recipient will ensure that a physical check of all Fixed and Programme Funded Assets takes place on at least an annual basis, establish and maintain an inventory of all Programme Funded Assets and provide it the Authority in line with Annex 3 (Payment and Reporting Schedule), and within 5 Working Days of being requested to do so. Where possible the Grant Recipient should undertake these checks directly.
40.3. For each entry in the inventory the following particulars must be shown where appropriate:
40.3.1. date of acquisition;
40.3.2. description of the Asset;
40.3.3. cost, net of recoverable VAT
40.3.4. location of the Asset;
40.3.5. serial or identification numbers;
40.3.6. location of the title deeds;
40.3.7. date of any Disposal;
40.3.8. depreciation/amortisation policy applied;
40.3.9. proceeds of any Disposal net of VAT; and
40.3.10. the identity of any person to whom the Asset has been transferred or sold.
40.4. The Authority reserves the right to require the Grant Recipient to maintain the above particulars as set out in 4.3.1-4.
Assets and Inventory. All of United's inventory is of good and merchantable quality, free from defects, and all other tangible assets are in good working order and condition, ordinary wear and tear excepted. All of the inventory located on United's business premises is owned by United, and no inventory or other assets are being stored for the benefit of any third party.
Assets and Inventory. (a) The assets and properties owned, operated or leased by each of the Acquired Companies and used in its businesses are, in the aggregate, in a good state of repair and operating condition (other than ordinary wear and tear), and are fit for their intended purposes.
(b) Except as set forth in Schedule 2.16:
(i) The inventory of each of the Acquired Companies is, in the aggregate, in good and marketable condition and saleable in the ordinary course of business consistent with past practices;
(ii) None of the Responsible Persons has any reason to believe that any material amount of the inventory of any of the Acquired Companies will not be saleable subsequent to the date hereof in the ordinary course of business in accordance with past practices; and
(iii) The quantities of all lines of inventory of each of the Acquired Companies are reasonable and appropriate in the present circumstances of its business.
Assets and Inventory. To Sellers' Best Knowledge, all of the Companies' inventory is of good and merchantable quality, free from defects, and all other tangible assets are in good working order and condition, ordinary wear and tear excepted.
Assets and Inventory. (a) The Company and the Group Companies own or have the right to lease, use or license all of the assets, tangible and intangible, and properties listed in Schedule 7.2.10
(a) (i) and such assets and properties are sufficient to operate the Business in the manner presently operated by the Company. Except as disclosed under Schedule 7.2.10(a)(ii), the assets are sufficient for the purposes for which such assets are currently used or are held for use, and are in reasonably good repair and operating condition (subject to normal wear and tear). Except for the leases and licensed assets listed on Schedule 7.2.10(a)(iii), the Company and the Group Companies own good and transferable title to all of the assets included in Schedule 7.2.10(a)(i) free and clear of any Liens.
(b) The inventories of the Company and of the Group Companies as reflected in the Financial Statements consist of a quality and quantity usable and, with respect to finished goods, saleable in the ordinary course of business, and do not include obsolete, non saleable or non usable items for an amount exceeding Euro 600,000.00. For purposes of the foregoing and of the Target Working Capital, “obsolete” items shall mean any items that have not moved within the past 10 (ten) years.
Assets and Inventory. All the tangible assets of Seller including those listed on Schedule "A" attached hereto. C.
Assets and Inventory. All tangible Assets are in good repair and good operating condition, ordinary wear and tear excepted, have been regularly and appropriately maintained and repaired in the normal course of business, and are adequate and sufficient to carry on the Business as presently conducted. The Assets (a) constitute all of the assets, tangible and intangible, of any nature whatsoever, necessary to operate the Business in the manner presently operated by Seller, and (b) constitute all of the assets and properties necessary to continue conduct of the Business following the Closing as the Business is currently being conducted. The inventories of the Business consist of a quality and quantity usable and, with respect to finished goods, saleable, in the ordinary course of the Business, and include obsolete items.
