Excess and Obsolete Inventory. Within fifteen (15) working days after the end of each calendar month, SANMINA-SCI shall advise CUSTOMER in writing of any excess or obsolete Components, Sub Assemblies and Finished Goods purchased or manufactured solely for the manufacture of CUSTOMER's Products but remaining in its inventory, and the Delivered Cost of such Components, Sub Assemblies and Finished Goods (the "E&O List"). For the purpose of this Agreement, (i) the phrase "Obsolete Components, Sub Assemblies and Finished Goods" shall mean any on-hand Components, Sub Assemblies and Finished Goods, ordered or manufactured in accordance with this Section, for which there is no demand for the next six (6) month period, according to the most current Forecast (whether as a result of an ECO or otherwise), (ii) the term "Excess Components, Sub Assemblies and Finished Goods" shall mean any on-hand Components, Sub Assemblies and Finished Goods, ordered or manufactured in accordance with this Section, which are not required to meet CUSTOMER's requirements (1) for the ensuing thirty-day period for "A" Components, Sub Assemblies and Finished Goods, (subassemblies and Finished Goods shall be deemed as A components) (2) for the ensuing ninety-day period for "B" Components or (3) for the ensuing one hundred eighty day period for "C" Components(ii) the term "Delivered Cost" shall mean SANMINA-SCI's quoted cost of Components, Sub Assemblies and Finished Goods as stated on the xxxx of materials, delivered to the point of manufacture. Within five (5) business days of receiving SANMINA-SCI's E&O List, CUSTOMER shall advise SANMINA-SCI of any Components, Sub Assemblies and Finished Goods that it believes are not excess or obsolete. Within five (5) business days after receiving SANMINA-SCI's E&O List, SANMINA-SCI and CUSTOMER shall finalize the E&O List, and CUSTOMER (i) shall issue to SANMINA-SCI an Order for all Obsolete Components, Sub Assemblies and Finished Goods on the E&O List at a price equal to the Delivered Cost of such Components, Sub Assemblies and Finished Goods plus a [+] markup on such Components. Sub Assemblies and Finished Goods shall have no additional markup to listed price, but may have charges for packaging if not included in the price, and (ii) shall issue an Order to [+] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION SANMINA-SCI for any carrying charge due on the Excess Components, Sub Assembli...
Excess and Obsolete Inventory. Any reasonable inventory (including raw materials, components, work-in-process, or Product) or orders for components and raw materials which are non-cancelable, non-returnable, and otherwise non-usable (including by Cordis or its affiliates for purposes of manufacturing products other than Product) that were ordered by Cordis or its affiliates pursuant to binding orders and are rendered excess or obsolete due to (i) termination of this Agreement by Cordis for SRM’s breach of this Agreement as set forth in Section 11.2, or (ii) termination of this Agreement by either Cordis or SRM according to Section 11.3.2 or 11.3.3 of this Agreement, or (iii) to the extent of the cancellation of one or more of SRM’s purchase orders by SRM without cause, will be the sole financial responsibility of SRM. SRM shall make payment to Cordis for all excess and obsolete inventory set forth in this Section, upon thirty (30) days of Cordis’ delivery of an invoice.
Excess and Obsolete Inventory. (i) For the purpose of this Agreement,
Excess and Obsolete Inventory. If Purchaser cancels or materially changes any Order, Supplier shall make good faith efforts to mitigate any costs which may be incurred with such Order changes. Notwithstanding the foregoing, should any inventory (including finished goods, works-in-process, components, or raw materials) be rendered excess or obsolete (as agreed upon by both Purchaser and Supplier) due to (i) the cancellation by Purchaser of any Orders, or (ii) changes or modifications to Orders, and that cannot reasonably and without extra cost to the Supplier be utilized on other Supplier products or returned to its suppliers, or such damages otherwise mitigated, the impact of such changes will be the financial responsibility of the Purchaser, at the Supplier’s documented actual costs (including, but not limited to, restocking charges paid by the Supplier to its suppliers, labor, and component costs). Notwithstanding the foregoing, Supplier will accept all financial responsibility for inventory purchased in excess of the then-current Forecast [*] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.
Excess and Obsolete Inventory. Within fifteen (15) days after the end of each calendar month, SANMINA-SCI shall advise CUSTOMER in writing of any excess or obsolete Components purchased solely for the manufacture of CUSTOMER’s Products but remaining in its inventory and the Delivered Cost of such Components (the “E&O List”). For the purpose of this Agreement, (i) the phrase “Obsolete Component” shall mean any on-hand Component, ordered in accordance with this Section, for which there is no demand for the next six (6) month period, according to the most current Order and Forecast (whether as a result of an ECO or otherwise), (ii) the term “Excess Component” shall mean any on-hand Component, ordered in
Excess and Obsolete Inventory. “Excess Inventory” means unique and custom materials that Supplier owns or has an irrevocable commitment to purchase, which cannot be re-used by Supplier’s other customers or sold on the secondary market and which are limited to quantities that will not be consumed in the [***] following Eargo’s then-current Forecast projections. “Obsolete Inventory” means unique and custom materials that Supplier owns or has an irrevocable commitment to purchase, which cannot be re-used by Supplier’s other customers or sold on the secondary market and which are limited to quantities that will not be consumed in the [***] following Eargo’s then-current Forecast projections. Supplier will inform Eargo of the financial impact of Obsolete Inventory within [***] of material obsolescence (e.g., from ECO release that deems or renders the material obsolete). Eargo will in no way be responsible for Obsolete Inventory that [***] of material obsolescence. Supplier may submit a claim for reimbursement of its storage costs for such Excess Inventory or Obsolete Inventory to Eargo within [***] from the end of such applicable period. Supplier’s failure to submit such a claim within this [***] period will constitute waiver of any claim for reimbursement for storage costs associated with the Excess Inventory or Obsolete Inventory. Any potential storage costs must be mutually agreed to by the parties in writing.
Excess and Obsolete Inventory. 4.6.1. DARKPULSE shall pay SANMINA on a quarterly basis for any amount of inventory being held by SANMINA that is more than the amount of inventory that would correspond to the agreed inventory turns. Payment may be in the form of an offset payment to be held in an Inventory Reserve Account, or a direct DARKPULSE purchase of the inventory. For the purpose of this Agreement:
Excess and Obsolete Inventory. Dot Hill acknowledges its financial responsibility for the materials purchased by Supplier in accordance with required supplier lead times to support the Dot Hill purchase orders, forecasted demand requirement, requested inventory build up resulting from the flexibility provisions of Section 3.6.3 and defined further per the terms contained in this section. Finished goods and raw material liability will be evaluated monthly as or as mutually agreed by the parties. Liability will be assessed to the Dot Hill immediately following identification of Excess and/or Obsolete inventory as defined and identified below. Excess and Obsolete inventory assessment will be adjudged against the demand and flexibility requirements. Liability will be as limited in this Agreement and will include existing inventory, supplier buffers that are agreed to by Dot Hill and non-cancelable/non-returnable orders that cannot be reduced by mitigation per standard purchasing practices, and will include excess or obsolete materials caused by Dot Hill-controlled material shortages. Additionally, liability will include any supplier-imposed cancellation or restocking fees. Dot Hill liability for Finished Goods Inventory, if any, is specified in Exhibit D. Dot Hill liability for raw component material and Work In Process (WIP) is to be assessed as follows:
Excess and Obsolete Inventory. Upon Buyer’s review of Seller’s Inventory Report, Seller and Buyer will confer to determine an agreement in good faith on the quantity of material (components or finished Products), if any, that Buyer will purchase from Seller within the first forty-five (45) days of the subsequent quarter. For any such Obsolete or Excess Inventory so purchased by Buyer, Buyer shall issue and Seller shall accept a Purchase Order for such inventory at Seller’s standard actual purchase cost and subject to the terms and conditions otherwise governing Buyer’s Purchase Orders under this Agreement.
Excess and Obsolete Inventory. 1.4.1 Tracks and identify obsolete inventory for export orders X
