Inventory and Related Assets Sample Clauses

Inventory and Related Assets. No later than ninety (90) days prior to the expiration of the Term, Licensee shall deliver to Licensor a schedule (signed and certified by Licensee’s Chief Financial Officer as accurate) itemizing (a) all inventory of Licensed Goods and Services then in Licensee’s possession, custody and/or control, broken down by style number, color, size, quantity, and including Licensee’s purchase price for each such product together with any other descriptive information which Licensor may request (the “Inventory”), (b) all then-existing leases for Branded Brick-and-Mortar Retail Stores (the “Leases”), (c) fixtures, furniture, and other tangible goods then in such Branded Brick-and-Mortar Retail Stores, and (d) any other then-existing assets primarily related to Licensee’s business with respect to the “Bonobos” brand, in each case of (c) and (d), that Licensee does not intend to repurpose in connection with Licensee’s other business operations (the assets described in clauses (c)-(d), the “Related Assets”). At any time over the thirty (30) day period following Licensee’s delivery of all such information, Licensor (or any third-party which Licensor may designate) then shall have the option (but not the obligation), exercisable upon notice to Licensee, to (i) purchase any or all such remaining Inventory and Related Assets at a price equal to eighty percent (80%) of Licensee’s purchase price applicable to the Inventory and Related Assets so purchased (which purchase of Inventory and/or Related Assets shall not accrue a Royalty) and (ii) assume any or all of such non-expired Leases. If the option in the foregoing clause (i) is exercised, then Licensee shall deliver, at Licensor’s cost and expense, the applicable Inventory and Related Assets to Licensor (or its designee) within thirty (30) business days from the date of exercise, and Licensor (or its designee) shall pay Licensee for such Inventory and Related Assets within thirty (30) days following its receipt thereof; provided, however, Licensor (or its designee) shall have the right to offset from such payment any sums then owed by Licensee to Licensor, without limitation of remedy. To the extent any Leases are assumed, Licensee shall cooperate in good faith to acquire any consents required for Licensor’s assumption of such Leases.
Sample 1Sample 2
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Inventory and Related Assets. SCHEDULE 1.1 attached hereto constitutes an accurate list of all of the Assets which are owned by or used by Seller in connection with the ownership and operation of the Business as of the date hereof prepared by Seller. Except as disclosed on SCHEDULE 2.7 attached hereto, none of the Assets are (i) held under any lease, security agreement, conditional sales contract, or other title retention or security arrangement, or (ii) located other than in the possession of Seller (except for certain items which are currently on demonstration with Customers and clearly marked as such on SCHEDULE 1.1). To Seller's and Shareholders' knowledge, all items of raw materials, work in process and finished goods included in the Inventory, consist of items of a quality and quantity useable and saleable in the ordinary course of business by Seller, except for obsolete and slow moving items and items below standard quality. No items included in the Assets have been pledged as collateral or are held by Seller on consignment from others. As of the date hereof, the market value of the Inventory listed on SCHEDULE 1.1 is approximately $180,000.
Sample 1

Related to Inventory and Related Assets

  • 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.

  • Inventory and Equipment with Bailees Store the Inventory or Equipment of Parent, Borrowers or their respective Subsidiaries at any time now or hereafter with a bailee, warehouseman, or similar party.

  • 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.

  • 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.

  • Accounts and Inventory Each Account or item of Inventory which Borrower shall, expressly or by implication, request Lender to classify as an Eligible Account or as Eligible Inventory, respectively, shall, as of the time when such request is made, conform in all respects to the requirements of such classification as set forth in the respective definitions of "Eligible Account" and "

  • Excluded Assets Notwithstanding the foregoing, the Purchased Assets shall not include the following assets (collectively, the “Excluded Assets”):

  • Included Assets The Assets referred to in Section 1.1(a)(ii) shall include, without limitation, the following assets, properties and rights of Seller used directly or indirectly in the conduct of, or generated by or constituting, the Business, except as otherwise expressly set forth in this Agreement:

  • 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.

  • 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.

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