Owned Inventory definition
Owned Inventory means (a) Inventory owned by Seller or any Other Seller that is held or used primarily in connection with the Business, including any such Inventory which is owned by Seller or the Other Sellers but which remains in the possession or control of a Third Party and (b) the other Inventory listed on Section 1.1(f) of the Seller Disclosure Schedule.
Owned Inventory is defined in Section 1.1(b).
Owned Inventory means, as of any date of determination, Inventory that is owned by Borrower (other than all merchandise classified on the Borrower's books and records as "miscellaneous" including, but not limited to, customer trade-ins, breakouts and giftware), and specifically excluding any Inventory acquired by Borrower on consignment from vendors.
Examples of Owned Inventory in a sentence
All Owned Inventory consists of items of a quantity and quality historically useable and/or saleable in the Ordinary Course of Business.
All Owned Inventory is free from defects in materials and workmanship (normal wear and tear excepted) except for immaterial defects and deficiencies.
The term “Current Assets” means the Receivables, Owned Inventory and Specified Prepaid Expenses included in the Purchased Assets.
Section 3.11 of the Disclosure Schedule contains a complete and accurate list of all Owned Inventory.
All Owned Inventory is located at the location(s) listed on Section 3.11 of the Disclosure Schedule or is in transit to such locations from the Company’s or any Seller Subsidiary’s manufacturer.
More Definitions of Owned Inventory
Owned Inventory means any inventories of raw materials, manufactured and purchased parts, work in process, packaging, stores and supplies, unassigned finished goods inventories (which are finished goods not yet assigned to a specific customer order) and merchandise, in each case owned by the Sellers and held or used exclusively in connection with the Business, including any of the above items which is owned by the Sellers but remains in the possession or control of a contract manufacturer or another Third Party (but excluding any inventory that is purchased by any of the Sellers from any contract manufacturer after the Closing Date under any agreement between such Sellers and contract manufacturers or under any Contract Manufacturing Inventory Agreement and excluding any inventory that is required to be purchased by any of the Sellers from a contract manufacturer after the date of this Agreement but prior to the Closing Date in connection with the Ordinary Course quarterly review process completed by such contract manufacturer to determine inventory levels in excess of Sellers’ forecasts).
Owned Inventory means any inventories of raw materials, manufactured and purchased parts, work-in-process, packaging, stores and supplies, unassigned finished goods inventories (which are finished goods not yet assigned to a specific customer order), “excess” or “obsolete” inventory, assets on loan, and merchandise in each case owned and paid for by the Sellers and held or used exclusively in connection with the Business, including any of the above items which is owned by the Sellers but remains in the possession or control of a contract manufacturer or another Third Party provided, however that the Owned Inventory shall not include any inventories that are Excluded Assets described on Section 2.1.2(n) of the Sellers Disclosure Schedule.
Owned Inventory shall have the meaning set forth in Section 1.1(p).
Owned Inventory has the meaning set forth in Section 2.1(b)(v).
Owned Inventory means any Inventory owned by the Sellers and held or used exclusively in connection with the Business, including any Inventory which is owned by the Sellers but remains in the possession or control of an Affiliate of any Seller, a contract manufacturer or another Third Party (but excluding any inventory that is purchased by any of the Sellers from any contract manufacturer after the Closing Date under any agreement between such Sellers and contract manufacturers or under any Contract Manufacturing Inventory Agreement), as reflected on Sellers’ general ledger as of the Closing Date an estimate of which will be provided to the Purchaser at least three days prior to Closing. For the avoidance of doubt, Owned Inventory shall include assets on loan and would not include products shipped to customers or related costs of services delivered for which a corresponding deferred cost of goods sold has been recorded.
Owned Inventory means any Inventory owned by the Sellers and held or used exclusively in connection with the Business, including any Inventory which is owned by the Sellers but remains in the possession or control of a contract manufacturer or another Third Party (but excluding any inventory that is purchased by any of the Sellers from any contract manufacturer after the Closing Date under any agreement between such Sellers and contract manufacturers or under any Contract Manufacturing Inventory Agreement and excluding any inventory that is required to be purchased by any of the Sellers from a contract manufacturer after the date of this Agreement but prior to the Closing Date in connection with the Ordinary Course quarterly review process completed by such contract manufacturer to determine inventory levels in excess of the Sellers’ forecasts). For the avoidance of doubt, Owned Inventory shall include assets on loan and would not include products shipped to customers or related costs of services delivered for which a corresponding deferred cost of goods sold has been recorded.
Owned Inventory means all Inventory owned and paid for by Seller and/or its Affiliates that is Related to the Business, having passed Ipsen’s (or its Affiliate’s) quality control procedures, including any such Inventory that is owned by Ipsen that remains in the possession or control of Seller after the Closing Date for distribution and sale by Seller, its Affiliates and/or their respective Third Party distributor, or Seller (as applicable) during the Transition Phase.