Physical Inventory. The Contractor shall periodically perform, record, and disclose physical inventory results. A final physical inventory shall be performed upon contract completion or termination. The Property Administrator may waive this final inventory requirement, depending on the circumstances (e.g., overall reliability of the Contractor’s system or the property is to be transferred to a follow-on contract).
Physical Inventory. The Contractor shall periodically perform, record, and disclose physical Inventory results. A final physical Inventory shall be performed upon Contract completion or termination. The City Manager may waive this final Inventory requirement, depending on the circumstances (e.g., overall reliability of the Contractor’s system or the Property is to be transferred to a follow-on contract).
Physical Inventory. Borrower shall conduct a physical count of the Inventory at such intervals as FINOVA requests and promptly supply FINOVA with a copy of such accounts accompanied by a report of the value (calculated at the lower of cost or market value on a first in, first out basis) of the Inventory and such additional information with respect to the Inventory as FINOVA may request from time to time.
Physical Inventory. The Contractor must conduct a physical inventory of property and reconcile the results with the property inventory records at least once every two years. This process must include verifying the existence, condition, and location of the property.
Physical Inventory. Immediately prior to Closing, representatives of Seller and Buyer will jointly conduct a physical inventory of the Inventory and any determinations jointly made and agreed upon by the representatives of Buyer and Seller during such physical inventory with respect to the quantity or quality of any items of Inventory shall be final and binding upon the parties. In addition, Seller shall also cause the warehousemen at the Distribution Warehouses to confirm in writing to Buyer the quantities of Inventory located at such Distribution Warehouses as of the Closing (and only such amounts as are confirmed in writing shall be treated as delivered for purposes of Sections 3.9 and 6.2(e)) and cause the warehousemen at the Distribution Warehouses to permit Buyer to inspect the Inventory located at such Distribution Warehouses, if requested by Buyer. In the event of any disagreements among the representatives of Buyer and Seller during such physical inventory with respect to the quantity or quality of any items of Inventory, the parties shall record the matter of disagreement in writing and segregate the items of Inventory to which such disagreement relates from the remaining items of Inventory. To the extent that any such disagreement relates to cores, Buyer and Seller shall promptly select a mutually acceptable (each acting reasonably) third party engaged in the business of supplying cores for Products to examine the cores at issue and resolve the disagreement, and the determination of such third party shall be conclusive and binding upon the parties. The parties shall each be responsible for payment of one-half of any amounts charged by such third party. To the extent that any such disagreement relates to Inventory other than cores and does not materially alter the Purchase Price in the aggregate, Buyer may make the final determination in good faith after consultation with Seller, and to the extent that any determination with respect to the quality of Inventory is adverse to Seller, Seller shall be entitled to the return of the disputed items of Inventory, whereupon such items shall be deemed excluded from the Inventory for all purposes hereunder.
Physical Inventory. A physical inventory of the property shall be taken and the results reconciled with the property records at least once every two years, or prior to termination of the Agreement, as applicable.
Physical Inventory. The Subrecipient shall cooperate with the State when it is performing a physical inventory of the property at least once every two (2) years and reconciling the inventory with property records described in the preceding paragraph annually.
Physical Inventory. Upon Talecris’ reasonable request, but no less than once per year, CHR shall take and report a physical inventory of the Talecris Consigned Inventory. Such request shall be honored in a timely fashion. Talecris will reimburse CHR for its reasonable out-of-pocket costs incurred to take such physical inventory. Talecris may, in its sole discretion and at its sole cost, elect to either observe the physical inventory being conducted or be represented by a third-party accounting firm.
Physical Inventory. A. A physical accounting of the Inventory shall be taken commencing as of Seller's close of business on the Closing Date. Such physical inventory shall be taken cooperatively by representatives of Seller and Purchaser and a written itemized listing setting forth specifically all such items physically counted shall be prepared by Seller, which written inventory shall be priced and extended using the valuation method described in Section 2.A. hereof. Employees or independent contractors of Seller participating in the physical inventory shall be compensated solely by Seller, and employees or independent contractors of Purchaser participating in the physical inventory shall be compensated solely by Purchaser.
Physical Inventory. On the night immediately preceding the Effective Time, a representative of Seller and, if requested by Purchaser, a representative of Purchaser shall (a) complete a physical inventory of (i) all food, paper inventory, kids’ meal premium and cleaning supplies located at the Existing Restaurants that are salable or usable in the ordinary course of business (the “Inventory”) and complete and sign Seller’s standard inventory form and (ii) the Repair and Maintenance Inventory and (b) count the cash to be left in the cash bank at each Existing Restaurant. The value of the Inventory and Repair and Maintenance Inventory shall be based upon Seller’s actual cost of such Inventory and Repair and Maintenance Inventory, and the value of the cash shall be valued at the face amount thereof. For purposes of the Closing, the Inventory, the Repair and Maintenance Inventory and Special Items will be assumed to have a value equal to the amount specified in Section 2.05(a)(iv), Section 2.05(a)(v) and Section 2.05(a)(vi), respectively, which estimated values shall be subject to adjustment following the Closing in accordance with Section 3.03(b).
