INVENTORY UTILIZATION Sample Clauses

INVENTORY UTILIZATION. Buyer shall permit Seller to utilize the Initial Spare Parts in the performance of this Agreement at no charge to Seller.
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INVENTORY UTILIZATION. Customer shall permit Contractor to utilize parts, which Customer has in storage. Except as set forth in this Section 14.3, Contractor shall be responsible for delivering replacement parts at Contractor’s expense within a reasonable time (considering among other things the repair and transportation time and anticipated Scheduled Maintenance) after Contractor has used Customer’s spare parts. Contractor may at its option, replace such parts with new, refurbished or repaired Parts. Customer shall retain title to and properly keep and store the Customer spare parts at the Site during the Term of this Agreement. If any Customer spare part is found to be unsuitable for use due to improper storage or maintenance by Customer, Contractor shall provide a replacement part as Extra Work at Time and Material Rates. Upon termination or expiration of this Agreement, Contractor shall have the right to remove any parts, equipment, tools, systems and materials remaining at the Site to which Contractor has title.
Sample 1
INVENTORY UTILIZATION. MCV shall own and maintain in inventory one (1) set of Mandatory Spare Parts at the Facility as described in Exhibit 3. Title to the Mandatory Spare Parts shall be held by MCV. GEII may use the Mandatory Spare Parts in the Covered Unit. If so used, GEII shall replace the Mandatory Spare Parts with new or reconditioned parts such that MCV shall have one (1) set of Mandatory Spare Parts in inventory at all times. If such part is utilized by GEII in the performance of Planned Maintenance, it shall be replaced at no additional cost to MCV. If such part is utilized by GEII for a purpose other than Planned Maintenance, it shall be replaced by GEII as Extra Work, and invoiced to MCV accordingly. MCV shall have the right to use any of the Mandatory Spare Parts for testing or other purposes, provided, however, that the Parts are not needed for the performance of Planned Maintenance within nine months and that MCV shall not transfer such Parts to another generating Facility without the consent of GEII, such consent shall not be unreasonably withheld. GEII shall provide replacement parts and MCV shall pay for those Parts as Extra Work. Subject to the warranty provisions of Article 8, upon completion of the Term, or termination of the Agreement whichever is the earliest, GEII will ensure that any of the Mandatory Spare Parts utilized by GEII have remaining EOH life capable of operating 24,000 EOH (based on the operating conditions of the Covered Units at the Effective Date, known repair history of the Mandatory Spare Parts, and the predicted total life of the Part at the time the Parts were installed). For the avoidance of doubt, GEII shall be able to use any Parts supplied by GEII, in a Covered Unit, or in MCV inventory on the Commencement Date for the performance of GEII obligations under this Agreement in any Covered Unit.
Sample 1

Related to INVENTORY UTILIZATION

  • Product Availability Under no circumstances shall Company be responsible to Representative or anyone else for its failure to fill accepted orders, or for its delay in filling accepted orders, when such failure or delay is due to strike, accident, labor trouble, acts of nature, freight embargo, war, civil disturbance, vendor problems or any cause beyond Company's reasonable control.

  • Inventory Adjustment (a) Within 30 days after the Closing Date, Sellers shall prepare and deliver to Buyer a statement (the "Closing Inventory Statement") setting forth the type and value, as of the close of business on the day immediately preceding the Closing Date, of the inventory of the Business, which statement shall be derived from a physical taking of such inventory as of such date and shall value inventory on the basis of the lower of cost or market value utilizing a first-in, first-out method in a manner consistent with Sellers' and the Companies' past practices and the standards and principles used in the preparation of the Unaudited Consolidated Statement of Net Investment Assets of the Business as of September 25, 2004 and shall otherwise be prepared in a manner consistent with Sellers' and the Companies' past practices with respect to perpetual inventory records; provided, that all amounts denominated in Canadian dollars that are part of the calculation of the value of inventory pursuant to this Section 2.05 shall be converted into U.S. dollars using the Closing Date Exchange Rate. Buyer and its representatives shall have such opportunity as Buyer reasonably deems appropriate to observe the taking and reconciliation of such inventory (which may begin prior to the Closing Date) in connection with the preparation of the Closing Inventory Statement. Buyer shall provide Sellers and their accountants, upon reasonable notice, such access to the books and records, to any other information, including working papers of Buyer's accountants, and to any employees of Buyer and its affiliates, in each case as may be reasonably necessary for Sellers to take such physical inventory, prepare the Closing Inventory Statement, respond to the Buyer's Inventory Objection (as defined in Section 2.05(b)) and prepare materials for presentation to the Arbitrator in connection with the matters contemplated by Section 2.05(c). If necessary, Buyer shall, after Closing, also provide or cause to be provided to Sellers and their designees such access as such persons may reasonably request to all facilities at which inventory of the Business is located in order to conduct such physical inventory. For the avoidance of doubt, the inventory of the Business to be valued pursuant to this Section 2.05 consists of the Inventory and all inventory of the Companies.

  • Availability of Earnings Statements The Company shall make generally available to holders of its securities as soon as may be practicable but in no event later than the last day of the fifteenth (15th) full calendar month following the calendar quarter in which the most recent effective date occurs in accordance with Rule 158 of the Rules and Regulations, an earnings statement (which need not be audited but shall be in reasonable detail) for a period of twelve (12) months ended commencing after the effective date, and satisfying the provisions of Section 11(a) of the Act (including Rule 158 of the Rules and Regulations).

  • 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.

  • Eligible Inventory As to each item of Inventory that is identified by any Borrower as Eligible Inventory in a Borrowing Base Certificate submitted to Agent, such Inventory is (a) of good and merchantable quality, free from known defects, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than Agent-discretionary criteria) set forth in the definition of Eligible Inventory.

  • 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.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Availability of Utilities All utility services necessary for the construction of the Improvements will be available prior to the commencement of construction, and all utility services necessary for the proper operation of the Improvements for their intended purposes are available at the Leased Premises or will be available at the Leased Premises prior to the Final Disbursement Date, at commercially comparable utility rates and hook-up charges for the vicinity, including water supply, storm and sanitary sewer facilities, gas, electricity and telephone facilities. Lessee shall furnish evidence of such availability of utilities from time to time at Lessor's request.

  • Borrowing Base Compliance After giving effect to the release of the Borrowing Base Property, the Total Outstandings will be less than or equal to the Maximum Loan Amount.

  • Location of Inventory Except as set forth in Schedule 4.25, the Inventory of Borrowers and their Subsidiaries is not stored with a bailee, warehouseman, or similar party and is located only at, or in-transit between, the locations identified on Schedule 4.25 to this Agreement (as such Schedule may be updated pursuant to Section 5.14).

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