Condition of Inventory. The Inventory included in the Acquired Assets is current, merchantable, saleable and usable in the ordinary course of business, consistent with past practice.
Condition of Inventory. Each Borrower will promptly, and in any event within two (2) Business Days after a Borrower becomes aware of the occurrence thereof, notify Lender of any event of deterioration, loss or depreciation of value of any substantial portion of its Inventory and the amount of such deterioration, loss or depreciation.
Condition of Inventory. Except as disclosed on Schedule 4.17, the Inventory of the Business is, and the work-in-process of the Business, when completed, will be, merchantable, useable and saleable in the ordinary course of business. A true and complete list of the Inventory is set forth on Schedule 4.17 hereto, and no item of Inventory set forth on such schedule would or should be omitted from inventory as of the Closing Date for purposes of generally accepted accounting principles, consistently applied (“GAAP”). Except as disclosed on Schedule 4.17, none of the equipment that is part of the Inventory as of immediately prior to the Closing Date requires retrofitting prior to sale so as to enable micro-array spotting in accordance with the claims and specifications for the equipment that is part of the Inventory.
Condition of Inventory. All Inventory: (i) is owned by a Loan Party, is subject to the Security Interest which is perfected as to such Inventory, and is not subject to any other Lien whatsoever other than a Permitted Lien; (ii) is in good condition and meets in all material respects the standards applicable to such goods, their use or sale imposed by any governmental agency, or department or division thereof, having regulatory authority over such matters; and (iii) is currently either usable or saleable, at prices approximating at least the cost thereof, in the normal course of the applicable Loan Party's business except to the extent reserved against in the financial statements referred to in Section 6.1(n).
Condition of Inventory. By making the Inventory available for rent hereunder, and agreeing to the terms of this Agreement, Lister represents and warrants that (a) he or she is the sole owner of the Inventory, or that he or she has full agency or other authority to enter into this Agreement and to rent the Inventory to Renter; (b) the Inventory has been accurately described on the Service, including any known faults or mechanical issues; (c) except as clearly set forth on the Service, the Inventory is in proper working condition, has been professionally maintained, and contains all functionality necessary for the Renter to attain his or expected use of the Inventory during the Rental Period, other than adjustments necessary to properly fit the equipment to Renter’s height, weight and skill level. Unless expressly agreed, the Rental does not include additional equipment except those described on the Service as associated with the Rental.
Condition of Inventory. Distributor must use utmost care in selecting inventory for return. Standard Inventory returnable for rotation must be in new and resalable condition in the original undamaged packaging. All returns are subject to final inspection and acceptance by Supplier. Any Products Supplier deems unacceptable for return will not be eligible for credit and Supplier may at its option make such Products available for pick up or return such Products to Distributor at Distributor’s expense.
Condition of Inventory. Except as set forth on Schedule 4.24, the inventory of the Business is, and the work-in-process of the Business, when completed, will be, merchantable, fit for the purpose for which it was procured or manufactured, useable and saleable in the ordinary course of business. Such inventory is not and such work-in-process, when completed, will not be surplus. As used in the foregoing sentence, “surplus” refers to inventory which does not, or work-in-process which, when completed, will not, exceed known or anticipated requirements in the reasonable business judgment of Seller. Such inventory and work-in-process, as of June 30, 2009, is carried on the Most Recent Balance Sheet at an amount not in excess of the lower of cost or net realizable value. Except as set forth on Schedule 4.24, all inventory items are located at the Leased Real Property. Since the date of the Most Recent Balance Sheet, no inventory items have been sold or disposed of except through sales in the ordinary course of business.
Condition of Inventory. Each Borrower will immediately notify the Agent of any event of deterioration, loss or depreciation of value of any substantial portion of its inventory and the amount of such deterioration, loss or depreciation. Expenses of the Agent. The Borrowers will reimburse the Agent on demand for all reasonable expenses (including the reasonable fees and expenses of legal counsel for the Agent) in connection with the enforcement of the Banks' rights to take possession of the Collateral and the proceeds thereof and to hold, collect, render in compliance with applicable environmental laws and regulations, prepare for sale, sell and dispose of the Collateral.
Condition of Inventory. All inventory, materials and supplies of Seller are saleable, not obsolete, or slow moving (except as to Seller's reserves) in good condition and of merchantable quality for such items in the Business. The inventory reserves described in the Latest Financial Statements are adequate in all respects.
Condition of Inventory. Each such Credit Party represents and warrants, and shall hereafter be deemed to have represented and warranted, that, as of the time any Inventory shall become subject to the security interest hereunder, such Inventory is located at its respective Permitted Collateral Locations unless otherwise permitted by Section 3(b). All such Inventory has been produced in compliance with applicable law in all material respects.
