Inventory Shortage definition

Inventory Shortage means the amount by which the retail value of the Inventory as reflected by an Audit is less than the Retail Book Inventory.
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Inventory Shortage shall have the meaning set forth in Section 2.6(b)(i).
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Inventory Shortage means any difference at retail value remaining after (i) the retail value of the Inventory as reflected by a binding Audit is deducted from (ii) the Retail Book Inventory.
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Examples of Inventory Shortage in a sentence

  • RELIANT shall have the right to cause an independent, certified public accountant reasonably acceptable to PRONOVA, at reasonable times and upon reasonable written notice, to examine such records of PRONOVA as may be necessary for the sole purpose of verifying the calculation and accuracy of the Inventory Shortage Report.

  • If any such re-Audit conducted for you becomes binding and results in an adjustment in any Inventory Shortage or Inventory Overage reflected by the last Audit of more than 1% of the Retail Book Inventory, we agree to bear the reasonable cost of such re-Audit.

  • For purposes of illustration and example only, if OEM receives a binding customer order in a quarter for seven products that has an aggregate net revenue value to OEM of $100,000, and OEM is not able to ship four of the ordered products that have an aggregate net revenue value to OEM of $60,000 because OEM does not have the Equipment from Netronome to manufacture such products due to a Supplemental Inventory Shortage, then the Penalty Fee owed by Netronome to OEM would be $6,000 (10% x $60,000).

  • Notwithstanding the foregoing, any units representing Excess Inventory Shortage for which Client realizes an insurance recovery will not be counted towards any Excess Inventory Shortage (and any such lost units shall not be counted towards Excess Inventory Shortage while any insurance claim is pending).

  • The “Penalty Fee” shall be an amount equal to ten percent (10%) of the net revenue value that OEM is unable to recognize in a calendar quarter for a binding order received by OEM from a customer in such quarter as a result of a Supplemental Inventory Shortage and OEM’s inability to ship product(s) to such customer.

  • For the purposes of determining whether the Brand Contribution Threshold has been met, if franchisees of such hotel system independently book groups (“Independent Group Bookings”) which cause the available room inventory of any hotel to decrease by twenty percent (20%) or more (“Inventory Shortage”), then neither the total gross room revenue nor the Brand Contribution GRR shall include that portion of gross room revenue derived from such Independent Group Bookings which results in the Inventory Shortage.

  • If any such re-audit for FRANCHISEE becomes binding and results in an adjustment in any Inventory Shortage or Inventory Overage reflected by the last 7- ELEVEN Audit of more than 1% of the Retail Book Inventory reflected by such last Audit, the reasonable cost of such Audit shall be borne by 7-ELEVEN.

  • If there is an Inventory Shortage, Seller shall pay Buyer (via wire transfer to an account specified in writing by Buyer), within five (5) Business Days of the Closing Date, an amount equal to the Inventory Shortage multiplied by the per unit value of such Non-Hydrocarbon Inventory based on the prices set forth in Schedule 2.6. If there is an Inventory Excess, then Buyer shall owe no further consideration to Seller.

Related to Inventory Shortage

  • Inventory Sublimit means the amount(s) set forth in Section 1(d) of Schedule A.

  • Obsolete Inventory means items that have expired, are redundant or damaged;

  • Inventory Value means the cost of property purchased by the trustee and the market value of other property at the time it became subject to the trust, but the trustee may use any value finally determined for the purposes of an estate or other transfer tax;

  • Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

  • Excess Inventory means all Inventory and Special Inventory possessed or owned by Flextronics that is not required for consumption to satisfy the next [***] of demand for Products under the then-current purchase order(s) and forecast.