STOCKS AND WORK IN PROGRESS Sample Clauses

STOCKS AND WORK IN PROGRESS. 7.3.1 In the reasonable opinion of the Warrantors the stock of raw materials, packaging materials and finished goods now held are not excessive and are adequate in relation to the current trading requirements of the businesses of the Group Companies; and none of the stock is obsolete, slow moving, unusable, unmarketable or inappropriate or of limited value in relation to the current business of any Group Company; and no contracts are outstanding which are likely to change this. 7.3.2 The current work in progress of each Group Company is adequate to support anticipated sales for the next 3 months. 7.3.3 The stock-in-trade of each Group Company is in good condition and is capable of being sold by it in the normal course of its business in accordance with its current price list without rebate or allowance to a purchaser,
Sample 1
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STOCKS AND WORK IN PROGRESS. (a) The stock of raw materials, packaging materials and finished goods now held are not excessive and are adequate in relation to the current trading requirements of the Company's business; none of the stock is obsolete, slow moving, unusable, unmarketable or inappropriate or of limited value in relation to the Company's current business and no contracts are outstanding which are likely to change this. (b) The current work in progress of the Company is adequate to maintain current cash flow and profitability at a level not less than is disclosed in the Management Accounts. (c) The stock-in-trade of the Company is in good condition and is capable of being sold by the Company in the ordinary course of its business in accordance with its current price list without rebate or allowance to a purchaser.
Sample 1
STOCKS AND WORK IN PROGRESS. Stocks and work in progress are valued at the lower of cost, including direct and an appropriate proportion of indirect overheads, and net realisable value. Overhead absorption is to be not less than 27.17% of Module, WIP, and "other" finished goods. Stock provisions are to be based on: Obsolete 90% Maintenance 50% Service 30% Demo 20% Loan/exchange 10%-90% based on age between current and 1 year There shall be no scrapping of stock or provision for the scrapping of stock. There shall be no provision for 'buffer' stock i.e. stock held at the request of any member of the Group by a supplier.
Sample 1
STOCKS AND WORK IN PROGRESS. 7.3.1 The stock of raw materials, packaging materials and finished goods now held are in the reasonable opinion of the Vendor adequate in relation to the current trading requirements of the businesses of the Company and in good condition. 7.3.2 In the reasonable opinion of the Vendor the stock-in-trade of the Company is in good condition and is capable of being sold by it in the ordinary course of its business in accordance with its current price list without rebate or allowance to a purchaser outside the ordinary course of business.
Sample 1
STOCKS AND WORK IN PROGRESS. 5.4.1 The stocks of raw materials, packaging materials and finished goods held by each Group Company are not excessive and are adequate in relation to the current trading requirements of that Group Company. 5.4.2 So far as the Seller is aware, no Group Company is carrying materially higher levels of stock which is obsolete, unusable or unsaleable in the ordinary course of business in accordance with its current price list without rebate or allowance than would be typical for a business of this nature.
Sample 1
STOCKS AND WORK IN PROGRESS. 6.1 Stock and work-in-progress shall be included at the values calculated in accordance with the stock-take and valuation carried out on the Completion Date and attended by the Vendor's Accountants and Purchaser's Accountants. 6.2 Stock and work-in-progress will be valued at the lower of cost and net realisable value. Cost is actual cost calculated on a first in first out basis and includes materials, direct labour and, in the case of work-in-progress and finished goods, attributable production overheads in accordance with Statement of Accounting Practice No. 9. 6.3 Provision for obsolete and slow moving stock will be made for any items of stock and work-in-progress on the following basis: Materials - 100% provision for stocks: 6.3.1 with no movement in the 6 months prior to Completion; and 6.3.2 with a level in excess of usage in the 6 months prior to Completion. Finished Goods and WIP - 100% provision for stocks in excess of 6 months past sales or, in the case of new products 6 months reasonable forecast sales.
Sample 1

Related to STOCKS AND WORK IN PROGRESS

  • Work in Progress Upon any such early termination of the license granted hereunder in accordance with this Agreement, Licensee shall be entitled to finish any work-in-progress and to sell any completed inventory of a Licensed Product covered by such license which remain on hand as of the date of the termination, so long as Licensee pays to Scripps the royalties applicable to said subsequent sales in accordance with the terms and conditions as set forth in this Agreement, provided that no such sales shall be permitted after the expiration of six (6) months after the date of termination.

  • Procurement for Goods and Works Except as ADB may otherwise agree, Goods and Works shall only be procured on the basis of the methods of procurement set forth below: National Competitive Bidding Shopping The methods of procurement are subject to, among other things, the detailed arrangements and threshold values set forth in the Procurement Plan. The Borrower may only modify the methods of procurement or threshold values with the prior agreement of ADB, and modifications must be set out in updates to the Procurement Plan.

  • Computer Equipment Recycling Program If this Contract is for the purchase or lease of computer equipment, then Contractor certifies that it is in compliance with Subchapter Y, Chapter 361 of the Texas Health and Safety Code related to the Computer Equipment Recycling Program and the Texas Commission on Environmental Quality rules in 30 TAC Chapter 328.

  • SIGNIFICANT LANDS INVENTORY FINDING Find that this activity is consistent with the use classification designated by the Commission for the land pursuant to Public Resources Code section 6370 et seq.

  • Goods and Works All goods and works required for the Project and to be financed out of the proceeds of the Financing shall be procured in accordance with the requirements set forth or referred to in Section I of the Procurement Guidelines, and with the provisions of this Section.

  • Selection of Subcontractors, Procurement of Materials and Leasing of Equipment The contractor shall not discriminate on the grounds of race, color, religion, sex, national origin, age or disability in the selection and retention of subcontractors, including procurement of materials and leases of equipment. The contractor shall take all necessary and reasonable steps to ensure nondiscrimination in the administration of this contract. a. The contractor shall notify all potential subcontractors and suppliers and lessors of their EEO obligations under this contract. b. The contractor will use good faith efforts to ensure subcontractor compliance with their EEO obligations.

  • Testing of Metering Equipment Connecting Transmission Owner shall inspect and test all of its Metering Equipment upon installation and at least once every two (2) years thereafter. If requested to do so by NYISO or Developer, Connecting Transmission Owner shall, at Developer’s expense, inspect or test Metering Equipment more frequently than every two (2) years. Connecting Transmission Owner shall give reasonable notice of the time when any inspection or test shall take place, and Developer and NYISO may have representatives present at the test or inspection. If at any time Metering Equipment is found to be inaccurate or defective, it shall be adjusted, repaired or replaced at Developer’s expense, in order to provide accurate metering, unless the inaccuracy or defect is due to Connecting Transmission Owner’s failure to maintain, then Connecting Transmission Owner shall pay. If Metering Equipment fails to register, or if the measurement made by Metering Equipment during a test varies by more than two percent from the measurement made by the standard meter used in the test, Connecting Transmission Owner shall adjust the measurements by correcting all measurements for the period during which Metering Equipment was in error by using Developer’s check meters, if installed. If no such check meters are installed or if the period cannot be reasonably ascertained, the adjustment shall be for the period immediately preceding the test of the Metering Equipment equal to one-half the time from the date of the last previous test of the Metering Equipment. The NYISO shall reserve the right to review all associated metering equipment installation on the Developer’s or Connecting Transmission Owner’s property at any time.

  • Raw Materials A. Catalent shall procure Raw Materials only from vendors that are approved in writing by Palatin or otherwise qualified in accordance with the provisions of the Quality Agreement. Catalent shall be responsible for procuring Raw Materials as necessary to meet the Firm Commitment. Catalent shall not be liable for any delay in delivery of Product if (i) Catalent is unable to obtain, in a timely manner, a particular Raw Material necessary for Processing and (ii) Catalent placed orders for such Raw Materials promptly following receipt of Palatin’s Firm Commitment. In the event that any Raw Material becomes subject to purchase lead time beyond the Firm Commitment time frame, the parties will negotiate in good faith an appropriate amendment to this Agreement, including Clause 4.2. B. In certain instances, Palatin may require a specific supplier, manufacturer or vendor (“Vendor”) to be used for Raw Material. In such an event, (i) such Vendor will be identified in the Specifications and (ii) the Raw Materials from such Vendor shall be deemed Palatin-supplied Materials for purposes of this Agreement. If the cost of the Raw Material from any such Vendor (other than a Vendor specified in the Specifications as of the Effective Date) is greater than Catalent’s costs for the same raw material of equal quality from other vendors, Catalent shall add the difference between Catalent’s cost of the Raw Material and the Vendor’s cost of the Raw Material to the Unit Pricing. Palatin will be responsible for all reasonable, out-of-pocket costs incurred by Catalent associated with qualification of any such Vendor who has not been previously qualified by Catalent. C. In the event of (i) a Specification change for any reason, (ii) obsolescence of any Raw Material or (iii) termination or expiry of this Agreement, Palatin shall bear the cost of any unused Raw Materials (including packaging), so long as Catalent (a) purchased such Raw Materials in quantities consistent with Palatin’s then current Firm Commitment and any minimum purchase obligations required by the vendor and (b) used commercially reasonable efforts to mitigate such costs by using any such unused Raw Materials in the manufacture of other products.

  • Procurement of Goods and Works Except as ADB may otherwise agree, Goods and Works shall only be procured on the basis of the methods of procurement set forth below:

  • Capital Equipment Collaborator’s commitment, if any, to provide ICD with capital equipment to enable the research and development activities under the Research Plan appears in Appendix B. If Collaborator transfers to ICD the capital equipment or provides funds for ICD to purchase it, then ICD will own the equipment. If Collaborator loans capital equipment to ICD for use during the CRADA, Collaborator will be responsible for paying all costs and fees associated with the transport, installation, maintenance, repair, removal, or disposal of the equipment, and ICD will not be liable for any damage to the equipment.

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