Excess Supplies definition

Excess Supplies means any supplies other than expendable supplies having a remaining useful life but which are no longer required by the using department in possession of the supplies.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Excess Supplies means supplies having a remaining useful life but which are no longer required by the using agency in possession of the supplies.

Excess Supplies means any tangible personal property, owned by the Park District, having a remaining useful life but that the user department in possession of the supplies no longer requires.

Examples of Excess Supplies in a sentence

• In accordance with the Asset Purchase Agreement, the Inventory Purchase Price shall be determined based on the prices determined pursuant to SECTION 1.6(b) to the Asset Purchase Agreement with respect to the Negotiated Inventory (including the coal located at the Chicago Coke Battery) identified in the Closing Date Inventory (as adjusted, if adjusted, pursuant to SECTION 2.2) plus (without duplication) $350,000 for the Excess Supplies.

• As of the Closing Date, the Closing Date Inventory will contain a true and complete list (and location) of each item of Inventory and Excess Supplies which will constitute part of the Additional Assets.

• At the end of the Initial Negotiation Period, Sellers and Buyer shall prepare a schedule detailing the items of Inventory and Excess Supplies from the Buyer's Response which will be purchased by the Buyer (which Schedules shall include at a minimum all slabs, raw materials and iron ore chips included on the Initial Inventory and located on the Real Property) and the respective price of each such item (collectively, the "INVENTORY PURCHASE PRICE") agreed upon by the parties (the "Negotiated Inventory").

• With respect to all other items of Inventory and Excess Supplies (other than slabs, raw materials and iron ore chips), if Sellers are not in agreement with the proposed prices submitted in the Buyer's Response, Sellers and Buyer shall negotiate on an exclusive basis for not less than three (3) days following delivery of the Buyer's Response (the "Initial Negotiation Period") to determine mutually satisfactory prices for the items listed in the Buyer's Response.

• Sellers acknowledge that Hilco Appraisal Services, LLC ("Hilco") is conducting a verification of LTV's inventory (the "Physical Inventory") of slabs, raw materials, iron ore chips and Excess Supplies located at the Real Property and coal located at the Chicago Coke Battery.

• Section 1.1(d) Excess Supplies......................................

More Definitions of Excess Supplies

Excess Supplies means any supplies that have a remaining useful life, but that are no longer needed by the agency that possesses them.

Excess Supplies means those Supplies not reasonably required by Buyer to start up the Business and maintain customary operations and processing for a period of four months from the Closing Date.

Excess Supplies means any supplies other than expendable supplies having a remaining useful life but which are no longer