FINAL SPARE PARTS AND COMMODITY INVENTORY AND AGENCY’S PURCHASE OPTION Sample Clauses

FINAL SPARE PARTS AND COMMODITY INVENTORY AND AGENCY’S PURCHASE OPTION. (a) Within five (5) days after the end of each month during the last Contract Year of the Term, the Contractor shall provide the Agency a copy of the then current Spare Parts and Commodity Inventory, determined in accordance with Article 5.2 above, along with the fair market value of each item in the Spare Parts and Commodity Inventory and the basis used to determine the fair market values. Within five (5) days after the end of the Term, the Contractor shall provide the Agency the Spare Parts and Commodity Inventory, determined in accordance with Article 5.2 above, along with the fair market values of each item in the Spare Parts and Commodity Inventory and the basis used to determine the fair market values that were existing on the last day of the Term (i.e., the “Final Spare Parts and Commodity Inventory”). (b) During the last Contract Year the Agency shall, as soon as practical, indicate to the Contractor the specific items in the Spare Parts and Commodity Inventory it wants the Contractor to leave at the Facility upon termination or expiration of the Agreement, including the fair market value, or other agreed to price, of those items as specified in the Spare Parts and Commodity Inventory. Except as may be needed for the proper operation and maintenance of the Facility, the Contractor shall maintain those items identified by the Agency in the Spare Parts and Commodity Inventory at the Facility. (c) The Agency shall have the right to purchase from the Contractor any, or all, items in the Final Spare Parts and Commodity Inventory for their fair market price, or other agreed to price. (d) Within five (5) days after receipt of the Final Spare Parts and Commodity Inventory, the Agency, in its sole discretion, shall provide the Contractor a final list of items in the Final Spare Parts and Commodity Inventory the Agency wants to purchase from the Contractor (the “Agency Spare Parts Inventory”). The “Spare Parts Purchase Price” shall be the aggregate of the fair market values, or other agreed to prices, of each item in the Agency Spare Parts Inventory.
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Related to FINAL SPARE PARTS AND COMMODITY INVENTORY AND AGENCY’S PURCHASE OPTION

  • Inventory and Equipment On the date hereof, the Inventory and the Equipment (other than mobile goods) are kept at the locations listed on Schedule 5.

  • Inventory and Supplies Administrator shall order, purchase and provide to the Group on a timely basis inventory and supplies, and such other ordinary, necessary or appropriate materials which are requested by the Group and which the Group shall reasonably determine to be necessary in the operation of the Practice on the same terms commercially available to Administrator. Such inventory, supplies and other materials shall be included in Practice Expenses at their cost to Parent or Administrator, as the case may be.

  • Location of Inventory and Equipment The Inventory and Equipment are not stored with a bailee, warehouseman, or similar party (without Foothill's prior written consent) and are located only at the locations identified on Schedule 6.12 or otherwise permitted by Section 6.12.

  • As to Equipment and Inventory Grantor hereby agrees that it shall: (a) keep all the Equipment and Inventory (other than Inventory in transit and Inventory sold in the ordinary course of business) at the places therefor specified in Section 3.1.1 or, upon 30 days' prior written notice to Agent, at such other places in a jurisdiction where all representations and warranties set forth in Article III (including Section 3.1.6) shall be true and correct, and all action required pursuant to the first sentence of Section 4.1.7 shall have been taken with respect to the Equipment and Inventory; (b) with respect to any Equipment or Inventory in the possession or control of any Third Party or any of Grantor's agents, notify such Third Party or agent of Agent's security interest in such Equipment or Inventory and, upon Agent's request following the occurrence and during the continuance of an Event of Default, direct such Third Party or agent to hold all such Equipment or Inventory for Agent's account and subject to Agent's instructions; (c) cause the Equipment to be maintained and preserved in the same condition, repair and working order as when new, ordinary wear and tear excepted, and in accordance with any manufacturer's manual; and forthwith, or in the case of any material loss or damage to any of the Equipment, as quickly as practicable after the occurrence thereof, make or cause to be made all repairs, replacements, and other improvements in connection therewith which are necessary or desirable to such end; and promptly furnish to Agent a statement respecting any loss or damage to any of the Equipment within ten (10) business days after Grantor obtains knowledge of any such loss or damage; and (d) pay promptly when due all property and other taxes, assessments and governmental charges or levies imposed upon, and all claims (including claims for labor, materials and supplies) against, the Equipment and Inventory, except to the extent the validity thereof is being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with Generally Accepted Accounting Principles have been set aside.

  • Equipment and Inventory With respect to any Equipment and/or Inventory of an Obligor, each such Obligor has exclusive possession and control of such Equipment and Inventory of such Obligor except for (i) Equipment leased by such Obligor as a lessee or (ii) Equipment or Inventory in transit with common carriers. No Inventory of an Obligor is held by a Person other than an Obligor pursuant to consignment, sale or return, sale on approval or similar arrangement.

  • Location of Equipment and Inventory All Equipment and Inventory are (i) located at the locations indicated on Schedule 4 (ii) in transit to such locations or (iii) in transit to a third party purchaser which will become obligated on a Receivable to the Debtor upon receipt. Except for Equipment and Inventory referred to in clauses (ii) and (iii) of the preceding sentence, the Debtor has exclusive possession and control of the Inventory and Equipment.

  • Property Inventory and Protection of Assets Grantee will; 1. maintain an inventory of equipment, supplies defined as controlled assets, and property described in this Contract and submit to the assigned contract manager, upon request. 2. maintain, repair, and protect assets under this Contract to assure their full availability and usefulness. 3. if Grantee is indemnified, reimbursed, or otherwise compensated for any loss of, destruction of, or damage to the assets provided or obtained under this Contract, use the proceeds to repair or replace those assets.

  • Inventory Records Each Loan Party keeps correct and accurate records itemizing and describing the type, quality, and quantity of its and its Subsidiaries’ Inventory and the book value thereof.

  • Inventory Reports Within 45 days after the close of each fiscal quarter of Customer, a copy of the Inventory Report (as and to the extent applicable, breaking out Inventory by location, and separately reporting any work in process) of Customer as of the end of such fiscal quarter; and

  • Inventory To the extent Inventory held for sale or lease has been produced by any Borrower, it has been and will be produced by such Borrower in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder.

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