Expired Inventory definition

Expired Inventory means any Specified Inventory that, as of the Final Inventory Count Date, has a “Use By”, “Expiration Date” or similar date reference within 180 days thereof, or any Specified Inventory that is damaged, broken, defective, spoiled or similarly rendered obsolete such that it is unsellable.
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Expired Inventory means (a) raw material or ingredients or Designated Goods that have passed their expiration date and/or (b) finished goods Inventory or Designated Goods that is within ninety (90) days of its expiration.
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Expired Inventory has the meaning specified in Section 9.10
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Examples of Expired Inventory in a sentence

  • For the avoidance of doubt, Expired Inventory shall not be included as Unsold Actual Closing Inventory and Purchaser shall have no Liabilities or obligation to pay any amounts in connection with the Expired Inventory.

  • Promptly upon determination of the Actual Closing Inventory pursuant to Section 3.4 hereof, Seller shall pay to Buyer promptly (but in any event no later than five days after final determination), in immediately available funds, an amount equal to (i) the number of units of Inventory having a shelf life of less than nine (9) months as of Closing (the “Expired Inventory”), multiplied by (ii) Seller’s cost of goods sold with respect to such Expired Inventory.

  • Inventory" shall mean, as of any particular date (actual or future), the inventory of NitroMed and its Subsidiaries, on a consolidated basis, as of such date, excluding Expired Inventory, valued at the lower of cost or net realizable value on a first-in, first-out basis and otherwise determined in a manner substantially consistent with the manner in which such items were determined for NitroMed's Most Recent SEC Balance Sheet.


More Definitions of Expired Inventory

Expired Inventory means any inventory that expires during the Measurement Period. Buyer shall not submit to Seller and/or Zila requests for reimbursement for Expired Inventory more frequently than quarterly; or I. Any actions, claims, proceedings, demands, grievances or disputes brought or initiated by third parties against the Acquired Business or any of the Seller Indemnified Parties in connection with the lawsuit filed by the Environmental Law Foundation against the Seller and certain other defendants in the Superior Court of the State of California for the County of San ▇▇▇▇▇▇▇▇ (Case No. 316647) relating to alleged violations of the Safe Drinking Water and Toxic Enforcement Act of 1986.
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Expired Inventory means Inventory that satisfies one or more of the following: (i) having a shelf life of twelve (12) months or less; or (ii) any other Inventory that the Seller has historically included in its Inventory reserve calculation, except such calculation shall consider Inventory unsaleable when the residual shelf life reaches twelve (12) months, rather than nine (9) months which the Seller represents it has historically used.
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Expired Inventory means inventory of NitroMed and its Subsidiaries that satisfies one or more of the following: (i) having a shelf life of twelve (12) months or less; or (ii) any other inventory to the extent that NitroMed has historically included such inventory in its inventory reserve calculation, except such calculation shall consider inventory unsaleable when the residual shelf life reaches twelve (12) months, rather than nine (9) months which period NitroMed represents it used in reporting inventory in its most recent consolidated balance sheets filed with the SEC ("NitroMed's Most Recent SEC Balance Sheet").
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