Inventory and Backlog. The Company regularly and systematically adjusts production schedules and quantities based on the flow of incoming orders. Backlogs are therefore typically limited to approximately 1 to 1 1/2 months of production. While total inventory levels may also be affected by changes in orders, the Company generally tries to maintain relatively stable inventory levels based on its assessment of the requirements of the various industries served.
Inventory and Backlog. (a) All inventory held by the Group Companies has been appropriately reserved, is of useable and saleable quality, has been recorded on the Financial Statements at the lower and cost and market value and in accordance with GAAP.
(b) Schedule 3.24(b) sets forth a true and correct computation of the Company Backlog as of December 31, 2017 based upon the Company’s revenue recognition policies and pursuant to the Accounting Principles. For the purposes of this Agreement, “Company Backlog” means the aggregate amount of all authorizations, including change orders, from customers to the Group Companies to perform services, net of revenue on such respective authorizations. The information and data provided to Buyer by the Company relating to ongoing projects and services for any customer included in the Company Backlog as of December 31, 2017 is true, correct and complete in all material respects.
Inventory and Backlog. The Inventory is (a) except to the extent of reserves therefore in the Financial Statements, salable or usable in the normal course of the Business, (b) at levels consistent with past practices of the Business, and (c) carried on the books of the Seller pursuant to the normal inventory valuation policies of the Seller, as reflected in the Financial Statements. All of the Inventory with a value net of reserves in excess of Fifty Thousand Dollars ($50,000) and Billed Inventory are located at the facility in Eden Prairie, Minnesota. The location of the remaining Inventory is as set forth on Schedule 4.10.
Inventory and Backlog. All Inventory is in saleable condition. The amount and quality of the Inventory is consistent with normal operating levels maintained by the Seller in keeping with past practice. Section 4.12 of the Seller’s Disclosure Schedule hereto lists all Backlog. No item of Inventory is obsolete or unusable. The Backlog reflects bona fide orders that were made in the ordinary course of business.
a. Customers and SuppliersSection 4.13(a) of the Disclosure Schedules sets forth a complete and accurate list of the top ten customers of the Business by revenue during Fiscal Year 2021 and the top ten customers of the Business by revenue during Fiscal Year 2020 (the “Material Customers”). No Material Customer is an Affiliate of Seller. Except as set forth in Section 4.13(a) of the Disclosure Schedules, no Material Customer has ceased to use the goods or services of the Business or otherwise terminated or materially reduced its relationship with the Business and Seller has not received any notice, and has no Knowledge, that any of the Material Customers has ceased, or intends to cease after the Closing, to use the goods or services of the Business or to otherwise terminate or materially reduce its relationship with the Business.
Inventory and Backlog. The Inventory is
(a) except to the extent of normal scrap quantities incurred in the production process and except to the extent of reserves therefor in the Financial Information, salable or usable in the normal course of the Business, (b) at levels consistent with past practices of the Business, and (c) carried on the books of the Seller pursuant to the normal inventory valuation policies of the Seller, as reflected in the Financial Information.
Inventory and Backlog. (a) All raw materials, supplies, component parts, work-in-process and finished goods inventory, and other inventory (collectively the "Inventory"), including that listed on Schedule 1.1.4(a);
(b) All backlogs of unfilled orders as of the date of this Agreement (the "Backlog") as listed on Schedule 1.1.4(b) (the "Opening Backlog Schedule"), which schedule shall set forth in detail; dates of orders, quantity, price, customer information, shipping dates and such other information as shall be deemed relevant to a determination of the scope, extent and accuracy of the Backlog. Schedule 1.1.4(b) shall also set forth the Backlog which AMP projects will exist at the Closing (the "Projected Backlog").
Inventory and Backlog. The Company regularly and systematically adjusts production schedules and quantities based on the flow of incoming orders. Backlogs are therefore typically limited to approximately 1 to 1 1/2 months of production. While total inventory levels may also be affected by changes in orders, the Company generally tries to maintain relatively stable inventory levels based on its assessment of the requirements of the various industries served. SEGMENT INFORMATION For segment financial information for the years 2000, 1999, and 1998, see the table titled "Company and Business Group Financial Information" presented on page 18 under "Management's Discussion and Analysis of Financial Condition and Results of Operations" and Note 10 of the "Notes to Consolidated Financial Statements" on pages 30 and 31 of the 2000 Annual Report, which is incorporated herein by reference. EXECUTIVE OFFICERS OF THE REGISTRANT The following table sets forth the names of the executive officers of the Company, their ages, years of service, the positions held by them, and their business experience during the past 5 years. NAME AGE YEARS OF SERVICE(1) POSITION ---- --- ---------- -------- Xxxxxx X. Xxxxxxxx.................... 54 1 Chairman of the Board, President and Chief Executive Officer Xxxxx X. Xxxxxxxxx.................... 54 28 Senior Vice President-Finance and Chief Financial Officer Xxxxx X. Xxxxx........................ 53 8 Vice President-Human Resources Xxxxx X. Xxxxxxxx..................... 57 10 Vice President-Group Executive Xxxxxxx X. Xxxxxx..................... 57 36 Vice President-Controller Xxxxxxx X. Xxxxxx..................... 48 21 Vice President-Treasurer Xxxx X. XxXxxxxx...................... 50 8 Vice President-Operational Excellence Xxxxxx X. Xxxxxxx..................... 53 27 Vice President-Corporate Development Xxxxx X. Xxxxxx....................... 37 3 Vice President-General Counsel and Secretary Xxxxxx X. Xxxxx....................... 55 20 Vice President-Group Executive
Inventory and Backlog. (a) All inventory held by the Group Companies has been appropriately reserved and is of useable and saleable quality.
(b) Schedule 6.1.29(b) sets forth a true and correct computation of the Company Backlog as of December 31, 2018, based upon the Company’s revenue recognition policies. For the purposes of this Agreement, “Company Backlog” means the aggregate amount of all authorizations, including change orders, from customers to the Group Companies to perform services, net of revenue of such respective authorizations. The information and data provided to the Purchaser by the Seller relating to ongoing projects and services for any customer included in the Company Backlog as of December 31, 2018, is true, correct and consistent with past practices.
Inventory and Backlog. 16 SECTION 3.8
Inventory and Backlog. The inventories of Seller related to the Business consist of raw materials, goods in process and finished goods salable or usable in the normal course of the Business, and such inventories are at levels consistent with past practices of the Business. No items included in inventories of Seller are or will be pledged as collateral or held by Seller on consignment from others. With regard to the Business, Seller has not committed to purchase inventories in amounts greater than are reasonably expected to be usable in the ordinary course of business as presently conducted. With respect to inventories in the hands of suppliers for which Seller will be committed on the Closing Date, such inventories on the Closing Date will be reasonably expected to be usable in the ordinary course of business as presently being conducted. As of the date hereof, the backlog of firm orders was at least $1,600,000. Copies of all of the customer orders constituting the backlog as of the opening of business on June 19, 1997 have been made available to Buyer.
