Examples of Company Inventory in a sentence
This Audit was undertaken to assess whether purchase orders were issued timely with due care for economy and in accordance with the requirement and rules of the Company; Inventory management system of the Company was efficient and effective; System for physical verification of inventory was adequate; and Disposal of obsolete / scrap items was done promptly.The period covered for the audit was 2017-18 to 2019-20.
Part 2.2 of the Disclosure Letter accurately sets forth the location of all Transferred Inventory and Company Inventory and accurately identifies the owner of all Transferred Inventory.
Any payments received after such time shall be deemed received on the next succeeding Business Day.
Company Inventory: Inventory bought and owned by Company in support of Customer Requirements as set forth in the MSA.
All of the Transferred Inventory and the Company Inventory is (and will as of the Closing be) of such quality and quantity as to be usable and saleable in the ordinary course of business of the Business, except for any such Transferred Inventory and Company Inventory included in reserves for unusable or unsaleable inventory accrued for on the Business Financial Statements.