Examples of Business Inventory in a sentence
General Xxxxx and Buyer shall each bear the fees of their respective auditors incurred in connection with the determination and review of the Other Business Inventory Statement.
Within thirty (30) days following the Closing Date, General Xxxxx shall prepare and deliver to Buyer a statement setting forth the type and value of the Other Business Inventory, as of the Closing Date, transferred and assigned to Buyer on the Closing Date, which statement shall be derived from a physical taking of such Other Business Inventory as of the Closing Date and shall be prepared in a manner consistent with the Inventory Standards (the "Other Business Inventory Statement").
The Other Business Payment shall be equal to the value of the Other Business Inventory as reflected on the Final Other Business Inventory Statement.
At the Closing or the Conversion Date, as applicable, the Inventory, the Other Business Inventory and the Conversion Date Inventory, respectively, will (a) be current, non-obsolete, neither damaged nor defective, saleable in the ordinary course and merchantable and fit for the purpose for which it was procured or manufactured, and (B) meet applicable manufacturing specifications and be suitable for use in the Business or each Other Business, as applicable.
All items of Business Inventory have been acquired or manufactured, sold and maintained in the ordinary course of business consistent with past practice.