Merchantable Inventory. All Inventory is in all material respects of good and marketable quality, free from all material defects other than defects at such rate of occurrence as are customary and usual for information technology and consumer electronic goods and software.
Appears in 3 contracts
Samples: Loan and Security Agreement (Applied Optoelectronics, Inc.), Loan and Security Agreement (Applied Optoelectronics, Inc.), Loan and Security Agreement (Applied Optoelectronics, Inc.)
Merchantable Inventory. All Inventory is in all material respects of good and marketable quality, free from all material defects other than defects at such rate defects, normal wear and tear excepted; provided, however, that the Inventory is the product of occurrence as are customary and usual for information rapidly changing technology and consumer electronic goods and softwaretherefore is subject to technological obsolescence.
Appears in 3 contracts
Samples: Loan and Security Agreement (Verity Inc \De\), Loan and Security Agreement (Verity Inc \De\), Loan and Security Agreement (Accrue Software Inc)
Merchantable Inventory. All Substantially all Inventory is in all material respects of good and marketable quality, free from all material defects other than defects at such rate of occurrence defects, and salable, either as are customary and usual for information technology and consumer electronic goods and softwarecurrent merchandise or close-out items.
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