Contra-Asset Account Sample Clauses

Contra-Asset Account. On-hand Raw Material, WIP, Finished Goods and on-order Raw Materials liabilities will be evaluated monthly relative to Customer Forecast. In the first week of Supplier’s Fiscal Month, Supplier will notify Customer of inventory balance in excess of Customer’s [ ]* demand at the end of prior Supplier’s fiscal month. By the 15th day of each month, Customer will provide a PO to Supplier for the quoted material value of the excess inventory position. Supplier will book the PO payment to an inventory reserve allocated to Customer on Supplier’s balance sheet. The parts will physically stay in Supplier’s stockroom, warehouse, or WIP stock. The value of excess inventory payments will continue to show in Supplier’s gross inventory, but the inventory reserve (contra-asset) will cause the net inventory position of Supplier’s Customer inventory to be reduced less than the gross position. Reporting of inventory balances to Customer by Supplier would show an itemization of parts that equals the gross position with a line at the bottom of the report which would reflect the reserve position and show a net inventory number. Customer may ship to Supplier a mutually agreed quantity of Customer owned material at Supplier’s current budget price that has demand in the Forecast. Supplier will receive and hold such inventory into Supplier’s on-hand inventory and Supplier will book the inventory value to the reserve account (contra-asset) allocated to Customer on Supplier’s balance sheet. The parts will be physically located in Supplier’s active stockroom, warehouse, or WIP stock. Supplier will refresh the excess inventory analysis to reflect the changes in on-hand inventory on a monthly basis, and provide a consumption report to the Customer the first week of the next month. Supplier is fully responsible for the value of all inventories held * - Confidential Treatment Requested. Omitted portions filed with the SEC. in Supplier’s warehouse. By the 15th day of each month, Supplier will provide a PO (payment terms of net 30) to Customer for physical inventory reductions as inventory is consumed or otherwise mitigated. Example 1: Inv Qty [ ]* Dmd [ ]* Excess Std Price Extend $ P/N ABC [ ]* [ ]* [ ]* $ [ ]* $ [ ]* P/N DEF [ ]* [ ]* [ ]* $ [ ]* $ [ ]* Total $ [ ]* Additional Reserve $ [ ]* Customer Issue P.O. To Supplier $ [ ]*
Sample 1
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Related to Contra-Asset Account

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes:

  • Withdrawals from the Collection Account and Distribution Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.03:

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

  • Permitted Withdrawals and Transfers from the Master Servicer Collection Account (a) The Master Servicer will, from time to time on demand of a Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the related Servicing Agreement. The Master Servicer may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error.

  • Funding Account The Administrative Agent shall have received a notice setting forth the deposit account of the Borrower (the “Funding Account”) to which the Administrative Agent is authorized by the Borrower to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement.

  • Distributions from Collection Account Subject to Section 8.2(e), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Collection Account and make deposits and payments, to the extent of Available Funds in the Collection Account for that Payment Date, in the following order of priority (pro rata within each priority level based on the amounts due except as otherwise stated):

  • Yield Supplement Account On the Closing Date, the Seller will deposit the Yield Supplement Account Deposit to the Yield Supplement Account from the net proceeds of the sale of the Notes. The Yield Supplement Account shall be the property of the Issuer subject to the rights of the Indenture Trustee for the benefit of the Securityholders.

  • Withdrawals from the Collection Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.01:

  • Permitted Withdrawals from the Certificate Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the applicable subaccount of the Certificate Account for the following purposes:

  • Excess Funding Account The amounts in the Excess Funding Account exceed 30% of the sum of the “Adjusted Invested Amounts” of all Series for three consecutive Collection Periods, after giving effect to any payments to be made on each related Payment Date; or

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