Obsolete Goods Sample Clauses

Obsolete Goods. It is understood by the Parties that when -------------- production is terminated, and possibly during the term of this Agreement, some materials will either become obsolete due to changes in the Specifications or there will be extra material due to incorrect forecasting. Although C&D will be financially responsible for these obsolete and/or extra materials, (i) Armkel shall use all prudent means to minimize the financial impact to C&D of these material losses, and (ii) under no circumstances will C&D be responsible under the provisions of this Section for raw materials and packaging materials which, when ordered by Armkel or purchased by Armkel from C&D pursuant to Section 5.3 hereof, represented more than a six-month supply (based on C&D's rolling forecast at the time when the materials were purchased) of the item in question.
Sample 1
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Obsolete Goods. It is understood by the Parties that when production is terminated, and possibly during the term of this Agreement, some materials will either become obsolete due to changes in the Specifications or there will be extra material due to incorrect forecasting. Although Buyer will be financially responsible for these obsolete and/or extra materials, (i) the Company shall use all prudent means to minimize the financial impact to Buyer of these material losses, and (ii) under no circumstances will Buyer be responsible under the provisions of this Section for raw materials and packaging materials which, when ordered by the Company or purchased by the Company from Buyer pursuant to Section 5.3 hereof, represented more than a six-month supply (based on Buyer's production plans) of the item in question.
Sample 1

Related to Obsolete Goods

  • 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.

  • Defective Products None of the Group Companies has manufactured, sold or supplied products which are, or were, in any material respect, faulty or defective, or which do not comply in any material respect with any representations or warranties expressly made by such Group Company, or with all applicable regulations, standards and requirements.

  • Inventories The Operator shall maintain detailed records of Controllable Material.

  • Returned Goods The Security Interest in the Inventory shall, without further act, attach to the cash and non-cash proceeds resulting from the sale or other disposition thereof and to all Inventory which is returned to the Borrower by customers or is otherwise recovered.

  • Goods All now owned and hereafter acquired right, title and interest of Debtors in, to and in respect of goods, including, but not limited to:

  • Raw Materials Lonza shall procure all required Raw Materials as well as consumables other than those Raw Materials that are Customer Materials. Customer shall be responsible for payment for all consumables and Raw Materials ordered or irrevocably committed to be procured by Lonza hereunder. Upon cancellation of any Batch or termination of the Agreement, all unused Raw Materials shall be paid for by Customer within [***] days of invoice and at Customer’s option will either be (a) held by Lonza for future use for the production of Product, (b) delivered to Customer, or (c) disposed of by Lonza.

  • Tooling Inventory that consists of tooling or replacement parts;

  • Product Warranties Except as set forth in Schedule 3.15, (a) there are no warranties express or implied, written or oral, with respect to the Business and (b) there are no pending or threatened claims with respect to any such warranty, and Seller has no liability with respect to any such warranty, whether known or unknown, absolute, accrued, contingent or otherwise and whether due or to become due.

  • Merchantable Inventory All Inventory is in all material respects of good and marketable quality, free from all material defects.

  • Product Warranty Each product manufactured, sold, leased, or delivered by the Company has been in conformity with all applicable contractual commitments and all express and implied warranties, and the Company has no Liability (and there is no basis for any present or future action, suit, proceeding, hearing, investigation, charge, complaint, claim, or demand against any of them giving rise to any Liability) for replacement or repair thereof or other damages in connection therewith, subject only to the reserve for product warranty claims set forth on the face of the balance sheet included in the Interim Financial Statements (rather than in any notes thereto) as adjusted for the passage of time through the Closing Date in accordance with the past custom and practice of the Company. No product manufactured, sold, leased, or delivered by the Company is subject to any guaranty, warranty, or other indemnity beyond the applicable standard terms and conditions of sale or lease. Section 4.22 of the Disclosure Schedule includes copies of the standard terms and conditions of sale or lease for the Company (containing applicable guaranty, warranty, and indemnity provisions).

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