Defective Merchandise definition

Defective Merchandise means any item of Merchandise that is defective or otherwise not saleable in the ordinary course because it is worn, scratched, broken, faded, torn, mismatched, tailored or affected by other similar defenses rendering it not first quality. Display Merchandise shall not per se be deemed to be Defective Merchandise.

Defective Merchandise means any Merchandise that fails to conform to any of the warranties set forth in Section 6.4 of this Agreement.

Defective Merchandise means any item of Inventory that is damaged, defective and not saleable as “new.”

Examples of Defective Merchandise in a sentence

• During the Merchandise Warranty Period, at the election of Academy and in Academy’s sole discretion, Vendor will repair or replace any Defective Merchandise within the Repair or Replacement Period, or issue a refund or a credit for the purchase price of, any Defective Merchandise.

• Upon discovery of Defective Merchandise during the Merchandise Warranty Period, Academy will promptly provide to Vendor a written notice (“Notice of Defect”) with a request for repair, replacement or a refund or credit of the purchase price of the Defective Merchandise.

• If Vendor fails to repair or replace the Defective Merchandise within the Repair or Replacement Period, then Academy shall continue to have the right to require repair or replacement of the Defective Merchandise or to receive a refund or credit of the full purchase price thereof, and to purchase cover Merchandise at Vendor’s expense.

• Refunds or credits issued for the purchase price of any Defective Merchandise will be issued within ten (10) days after Vendor’s receipt of the Defective Merchandise.

• For purposes of this Agreement, “Merchandise” shall mean all (i) new, finished, first quality goods owned by Merchant saleable in the ordinary course of business located at the Stores as of the Sale Commencement Date (including Merchandise subject to Gross Rings); (ii) Defective Merchandise (to the extent Purchaser and Agent can mutually agree on the Cost Value applicable thereto and excluding Excluded Defective Merchandise); and (iii) goods marked as “demo” in the Merchant’s books and records.

More Definitions of Defective Merchandise

Defective Merchandise means any item of Merchandise that is defective or otherwise not saleable in the ordinary course of business because it is so worn, scratched, broken, faded, torn, mismatched, tailored, or affected by other similar defenses rendering it not of the quality of other similar items of Merchandise. Display Merchandise shall not per se be deemed to be Defective Merchandise.

Defective Merchandise means any item of merchandise that is dented, worn, scratched, broken, faded, mismatched, or merchandise affected by other similar defects rendering it not first quality, but which is saleable by Agent during the Sale Term. Defective Merchandise does not include Display Merchandise.

Defective Merchandise means any item of Merchandise which is not new, finished, first-quality, saleable goods sold in the ordinary course. Examples of Defective Merchandise include but are not limited to goods that are used, damaged, defective, scratched, soiled, ripped, torn, stained, faded, discolored, dented, shopworn, out of box (if normally sold as new in-the-box, but excluding display items which are not otherwise damaged or defective and for which the box, all related packaging and all accompanying directions and warranty information are on hand), missing pieces, mismatched, mismated or near-sized, parts, items typically sold as a set which are incomplete, gift with purchase items and Out-of-Season Goods.

Defective Merchandise has the meaning assigned to that term in Section 5.1(b) hereof.

Defective Merchandise means any goods reasonably agreed upon by the Merchant’s representative and the Agent’s representative during the Inventory Taking as defective or otherwise not saleable in the ordinary course of Merchant’s business at Retail Price, as if the Merchandise were not defective and as to which Merchant and Agent mutually agree as to the Retail Price of such Defective Merchandise. Display merchandise shall not be presumed to be defective. Packaging material that has minor wear, soiling, stains, dents, tears, scratches, or fading shall not render the Merchandise therein “defective.”

Defective Merchandise means any item of Merchandise that (i) has been discontinued or marked as out of stock or received a similar designation, (ii) was first offered for sale in any Store in the 12 months prior to the date hereof, (iii) is Allegedly Infringing Merchandise, or (iv) is Violative Merchandise.

Defective Merchandise means any item of Merchandise that is agreed upon and identified by Agent and Merchant as defective or otherwise not saleable in the ordinary course because it is dented, worn, scratched, broken, faded, torn, mismatched or affected by other similar defects rendering it not first quality, but that is not so damaged that it is not saleable in the ordinary course of business at any price. Sample merchandise and merchandise on display shall not per se be deemed to be Defective Merchandise so long as (x) the original packaging (including warranty information, if any warranty applies, and all supplied accessories) for such Merchandise is intact and available if needed to make the item saleable in the ordinary course, and (y) such Merchandise remains subject to its original warranty, if applicable.