Inventory Bank definition

Inventory Bank means a quantity of safety stock of raw materials, packaging, labels or work in progress, at the most-current design level, sufficient to fulfill Pure’s projected requirements of the Goods as set forth in any Purchase Orders and/or rolling Forecast issued to ICC hereunder.
Sample 1
Inventory Bank means, at any time, no less than Five percent (5%) of the total number of units of the relevant Product which has been ordered in the immediately preceding 12 month period, until expiry of the applicable Warranty Period in accordance with Section 8.01 hereof).
Sample 1Sample 2
Inventory Bank means an adequate quantity of safety stock of finished Parts and raw materials, at the most-current design level, based on Deere’s projected requirements of the Parts for the period designated by Deere as provided herein.
Sample 1

Examples of Inventory Bank in a sentence

  • Supplier will ship Component Parts in each Inventory Bank as they are produced to the location designated by the Customer, and the Customer will pay for those Component Parts in the ordinary course of dealings between the parties.

  • Supplier will ship Inventory Bank Parts as directed by GM or GM’s designee as they are produced and according to the terms of the applicable Purchase Order(s).

  • In case of any loss involving damage to Equipment or Inventory Bank will determine whether such insurance proceeds shall be used (a) to make or cause to be made the necessary repairs to or replacements of such Equipment or Inventory or (b) to pay the Secured Obligations, and if there are any contingent Secured Obligations, to provide cash collateral to cover such Secured Obligations.

  • The Head may, after consultation with the Parents and if appropriate the Pupil, decline to apply for access arrangements or post-examination services if, in their professional judgement it is considered not to be in the best interests of the Pupil or the examination cohort to do so.

  • GM will reimburse Supplier for the incremental costs that Supplier reasonably incurs in connection with building and shipping the Inventory Bank Parts, including, without limitation, overtime costs, special packaging costs, and handling costs, as applicable (the “Incremental Bank Costs”), provided that such Incremental Bank Costs are approved by GM in advance and in writing, which approval shall not be unreasonably withheld.

  • The T-accounts will look like: Merchandise Note PayableCash Inventory Bank Common Stock Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.(1)10,000 12,500 (3) (3) 12,500 6,000 (2) 10,000 (1)(2) 6,000_______ 16,000 12,5003,500 January 31: We sold 900 DVDs for $20 each during the month of January.

  • In case of any loss involving damage to Equipment or Inventory, Bank will determine whether such insurance proceeds shall be used (a) to make or cause to be made the necessary repairs to or replacements of such Equipment or Inventory or (b) to pay the Secured Obligations, and if there are any contingent Secured Obligations, to provide cash collateral to cover such Secured Obligations.

  • Each Customer shall reimburse Supplier for its verifiable, incremental, out-of-pocket costs reasonably incurred by Supplier in connection Supplier’s manufacture of the Inventory Bank for such Customer including, without limitation, overtime pay and all special packaging and handling costs (e.g., disposable dunnage, wrapping, coating, etc.) (the “Incremental Bank Costs”).

  • The Customer will pay for the Inventory Bank at the applicable Purchase Contract price and in accordance with the terms of the applicable Purchase Contract, both as adjusted by this Agreement.

  • Throughout the Term, Seller must: (a) maintain the capacity and availability to supply Buyer’s requirements for the Products as communicated by Buyer to Seller, at Buyer’s sole discretion, from time to time; (b) provide quotations to Buyer in a timely manner whenever so requested by Buyer; (c) maintain an Inventory Bank at its sole expense and risk; and (d) not prioritize its commitments to any other customer of Seller to the detriment of any of its obligations under the Agreement.

Related to Inventory Bank

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Eligible Inventory means and include Inventory, excluding work in process, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in, first-out basis, which is not obsolete, slow moving or unmerchantable as determined by Agent in its Permitted Discretion and which Inventory, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). Notwithstanding anything herein to the contrary, no Inventory shall be Eligible Inventory to the extent such Inventory was acquired by a Borrower pursuant to an entity creation under Section 7.12 or a Permitted Acquisition, unless Agent has (i) completed field examinations with respect to such Inventory, the results of which are satisfactory in form and substance to Agent in its Permitted Discretion or (ii) waived such restriction in its Permitted Discretion. In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than between one or more locations where Borrowers are permitted hereunder to maintain or store Inventory and such location is the subject of a Lien Waiver Agreement or a Processor’s Agreement, as applicable, unless such location is owned by Borrower); (c) is located outside the continental United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory (other than Consigned Inventory that is subject to a warehouseman’s waiver in form and substance satisfactory to Agent); (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion); (g) at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by Agent), is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Agent a Lien Waiver Agreement or a Processor’s Agreement, as applicable (or Agent shall have established reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); or (h) if the sale of such Inventory would result in the creation of a Receivable which, on the date of such sale, would fail to constitute an Eligible Receivable due to the operation of any of clauses (b), (c) or (e) – (p) of such definition.

  • Consignee means the person to whom the goods are required to be delivered as specified in the Contract. If the goods are required to be delivered to a person as an interim consignee for the purpose of dispatch to another person as provided in the Contract then that "another" person is the consignee, also known as ultimate consignee.

  • Transit means the passage of a third country national or a stateless person through the territory of the Requested State while travelling from the Requesting State to the country of destination;