Net Inventory definition

Net Inventory means the book value of Inventory minus the LIFO allowance, determined in accordance with GAAP.

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Net Inventory means the aggregate amount of the Inventory (other than supplies), less reserves established in accordance with the Calculation Principles.

Net Inventory means net Inventory (reduced by related inventory reserves but excluding any Distributor Inventory) as of the Closing Date to be provided by Seller pursuant to Section 5.16.

Examples of Net Inventory in a sentence

• If and to the extent that Net Inventory is less than $2,100,000, Seller shall provide Purchaser with cash, by wire transfer of immediately available funds within two Business Days following Purchaser’s receipt of the updated Schedule 3.14 (Inventory), in an amount equal to the difference between $2,100,000 minus Net Inventory.

• All Net Inventory is in all material respects of good and marketable quality, free from material defects.

• If they are unable to reach such agreement during such period, the parties shall promptly engage the CPA Firm to review promptly the Net Inventory for the purpose of calculating the Closing Inventory Value.

• Conversely, if the sum of the Final Closing Net Inventory Value and the amount of any check provided to Buyer with the Statement (if any) is more than $5,300,000, Buyer shall, within ten (10) business days after the determination of the Final Closing Net Inventory Value, deliver to Seller a check payable to Seller in the amount by which the sum of the Final Closing Net Inventory Value and the amount of any check provided to Buyer with the Statement (if any) exceeds $5,300,000.

• The Accounting Firm’s determination of the Net Inventory and the resulting Cash Portion shall be based solely on written presentations submitted by Buyer and Seller which are in accordance with the guidelines and procedures set forth in this Agreement (i.e., not on the basis of an independent review).

More Definitions of Net Inventory

Net Inventory means the book value of inventory minus the LIFO allowance, determined in accordance with GAAP. “ Net Book Value ” means cost minus accumulated depreciation.

Net Inventory means an amount equal to the value (at cost) determined on a basis consistent with Seller’s prior practices of finished goods inventory and packaging materials (provided that if the value of the packaging materials exceeds $10,000, then such value shall be deemed to be $10,000) included in the Purchased Assets, net of a reserve established on a basis consistent with Seller’s past practices for inventory “shrink.”

Net Inventory is Inventory having a positive value on the Borrower’s balance sheet as of the end of the preceding fiscal quarter.

Net Inventory means Inventory less reserves for excess and obsolete inventory.

Net Inventory means all Inventory other than that which is (i) aged more than twelve (12) months, and (ii) no longer useable in the Foundry Operation.

Net Inventory means the gross value, at standard cost, of Inventory related to the Acquired Business that relates to all Products of the Seller, subject to the following adjustments (i) inventory greater than 12 months of age shall not be included; (ii) finished goods inventory where the cost is greater than the selling price is written down to market value; and (iii) inventory that is less than 12 months of age is subject to reserve based on a demand reserve calculation, which writes down the portion of inventory less than 12 months old that is in excess of the next 12 month’s demand forecast. The demand reserve is subject to exception for new products that have been released in the last 6 quarters.

Net Inventory shall have the meaning set forth in Section 1.4(a)(i).