Close-Outs definition

Close-Outs means second quality, irregular, out of season or damaged Licensed Products that remain merchantable, or Licensed Products which are sold for more than ****** percent (******%) below the suggested wholesale price.

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Close-Outs means first quality Licensed Products that under applicable industry standards cannot be or are not sold to regular customers.

Close-Outs means any Licensed Products that are sold for a price no greater than the sum of direct manufacturing and shipping costs plus any Third Party Fees and Royalties. -------- * Certain information has been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 under the Securities and Exchange Act of 1934, as amended.

Examples of Close-Outs in a sentence

Seconds and Close-Outs sold by the Licensee may be sold only to Approved Accounts and Approved Seconds and Close-Outs Accounts, including those customers identified on Schedule 6.14.
Whenever the Licensee shall wish to sell Seconds and Close-Outs to customers not previously approved by CKI, the Licensee shall submit to CKI a written list of the proposed customers for Seconds and Close-Outs for CKI’s prior written approval.
Prior to offering Close-Outs and Seconds for sale to other customers, Licensee shall first offer the same to the Outlet Stores.
Outs may be disposed of by Licensee through its Normal Channels of Distribution for Close-Outs, as described in “Exhibit J”.
The principal investigator (or other person specifically approved by the Requestor) for the applicable Project, who prepares DARs, Project Renewals and Project Close-Outs for such Project.
If at any time any Licensed Product ceases to be acceptable to Licensor, Licensor shall have the right in the exercise of its sole discretion to withdraw approval of such Licensed Product, a “Family” of which (meaning all men’s and women’s models) in any Annual Period (following the first full Annual Period in which such Family is first introduced) sells less than * not including Seconds and Close-Outs, in the aggregate.
In addition, any such approvals shall authorize Licensee to make only such quantities of the approved item as Licensee reasonably expects to sell to its regular customers (excluding customers approved for sales of Close-Outs) and to Licensor, Licensor’s Affiliates and Distributors.
At the beginning of each season, Licensee shall offer for sale Close-Outs to Licensor’s or its Affiliates’ outlet stores (“Outlet Stores”), prior to offering such Close-Outs to other parties.
Licensee may not manufacture Licensed Products for its outlet stores and may only sell Close-Outs and Seconds from such stores.
Licensee agrees to distribute Licensed Products, including Close-Outs, only to those retailers that are listed on “Exhibit J” and any other customer approved hereafter by Licensor.

More Definitions of Close-Outs

Close-Outs means Units of a particular Model of Licensed Products in existence or in the manufacturing process at the time such Model is discontinued, or any product sold at a price Twenty Percent (20%) less than the original wholesale price, provided that in no event shall the aggregate close-outs in any year exceed Fifteen Percent (15%) of gross sales without Licensor's prior written consent.

Close-Outs are defined as excess inventory that Licensee desires to move at the end of the season that was not generated based on a forward-looking production order and that is sold at a discount of more than twenty five percent (25%) off of the regular wholesale price. “Second Quality Products” are defined as Seconds and Close-Outs.

Close-Outs means first quality Licensed Products that under applicable industry standards cannot be or are not sold to regular customers, although they were originally intended for sale to such customers. Close-Outs shall not include Licensed Products specifically manufactured for Close-Out customers, which Licensed Products may not be manufactured without Sweetface's express written approval.

Close-Outs means first quality Licensed Products that under applicable industry standards cannot be, or are not sold to Full Price Accounts, although they were originally intended for sale to such accounts (such as overruns and excess merchandise).

Close-Outs for this purpose is defined as merchandise sold 20% or more below list price.

Close-Outs means any Licensed Products that are sold for a price no greater than the sum of direct manufacturing and shipping costs plus any Third Party Fees and Royalties.