Common use of Orders, Commitments and Returns Clause in Contracts

Orders, Commitments and Returns. Part 3.27 of the Disclosure Letter contains (a) an accurate summary of the company's total backlog of orders as of December 31, 1999 (including all accepted and unfulfilled sales orders) and (b) the aggregate of all outstanding purchase orders issued by the Company as of December 31, 1999 (which include all contracts or commitments for the purchase by the Company of merchandise, materials or other supplies). A list of all outstanding purchase orders for inventory components in excess of $10,000 as of December 31, 1999, categorized by vendor, has been provided by the Company to Parent in writing. All such sale and purchase commitments were made in the Ordinary Course of Business. Except as set forth in Part 3.27 of the Disclosure Letter, there are no outstanding claims in excess of $50,000 in the aggregate or $10,000 individually against the Company to return products or merchandise by reason of alleged failure to conform to customer expectations, defective products, missed delivery dates or otherwise, or of products in the possession of customers under an understanding that such products would be returnable.

Appears in 3 contracts

Samples: Merger Agreement (Key Technology Inc), Merger Agreement (Key Technology Inc), Merger Agreement (Advanced Machine Vision Corp)

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Orders, Commitments and Returns. Part 3.27 Section 5.20 of the Company Disclosure Letter Statement contains (a) an accurate summary of the companyCompany's total backlog of orders as of December 31April 5, 1999 1997 (including all accepted and unfulfilled sales orders) and (b) the aggregate of all outstanding purchase orders issued by the Company as of December 31February 28, 1999 1997 (which include all contracts or commitments for the purchase by the Company of merchandise, materials or other supplies). A list of all outstanding purchase orders for inventory components in excess of $10,000 5,000 as of December 31February 28, 19991997, categorized by vendor, has been provided by the Company to Parent Egghead in writing. All such sale and purchase commitments were made in the Ordinary Course ordinary course of Businessbusiness. Except as set forth in Part 3.27 of the Company Disclosure LetterStatement, there are no outstanding claims in excess of $50,000 in the aggregate or $10,000 20,000 individually against the Company to return products or merchandise by reason of alleged failure to conform to customer expectations, defective products, missed delivery dates or otherwise, or of products in the possession of customers under an understanding that such products would be returnable.

Appears in 1 contract

Samples: Merger Agreement (Egghead Inc /Wa/)

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