Business Inventory. All Business Inventory consists of a quality and quantity usable and salable in the ordinary course of business consistent with past practice, except for obsolete, damaged, defective or slow-moving items that have been written off or written down to fair market value or for which adequate reserves have been established. All Business Inventory is owned by Seller free and clear of all Encumbrances, and no Business Inventory is held on a consignment basis. The quantities of each item of Business Inventory (whether raw materials, work-in-process or finished goods) are not excessive, but are reasonable in the present circumstances of Seller.

Inventory. All inventory and rights therein (including all inventory, finished goods, raw materials, work in progress, packaging, supplies, parts and other inventories) (the “Inventory”), wherever located, related to the Business, other than Excluded Inventory (the “Purchased Inventory”).

Inventory. All inventory of the Company and the Company Subsidiaries presented in the Financial Statements consists in all material respects of items of a usable quality that are, with respect to finished goods, saleable, in the ordinary course of business, except for slow-moving or obsolete items and items of below-standard quality, all of which have been written off or written down to net realizable value in the Financial Statements. The quantities of inventory of the Company and the Company Subsidiaries (whether raw materials, intermediary goods, work‑in‑process, finished goods, spare parts or in-transit inventory) are sufficient in all material respects for the operations of the business of the Company and the Company Subsidiaries in the ordinary course of business consistent with past practice. The historical values at which the inventory of the Company and the Company Subsidiaries have been presented to Buyer have been determined in accordance with the customary valuation policies of the Company and the Company Subsidiaries and in accordance with the Company’s and the Company Subsidiaries’ books and records, as consistently applied the Company and the Company Subsidiaries, as applicable.

Inventory. Subject to adequate reserves for unsalable, obsolete and damaged Inventory and shrinkage as reflected on the Financial Statements in accordance with GAAP, the Inventory # is of a good and merchantable quality and fit for the purpose, in the Ordinary Course of Business, for which it was procured or manufactured, # has been recorded on the Company’s books and records valued in the Financial Statements in accordance with GAAP, # consists solely of Inventory of the kind and quality regularly purchased, produced, used, and sold in the Ordinary Course of Business, # is usable by the Company or readily saleable at prices customarily charged by the Company, in each case in the Ordinary Course of Business and # is free of any material defects. Any Inventory that has been written down has either been written off or written down to its net realizable value and such write-offs or write-downs are reflected in the Financial Statements. Except as set forth on [Schedule 4.16], there has been no change in valuation standards or methods with respect to the Inventory in the prior three years. Except as set forth on [Schedule 4.16], the Company does not hold any items of Inventory on consignment from other Persons and no other Person holds any items of Inventory on consignment from the Company.

Inventory. At NVCR’s election and request, Zai shall transfer to NVCR or its designee some or all inventory of Licensed Products (including all disposable (i.e., arrays), replacement components, Licensed Products retrieved after stoppage the like) then in the possession or control of Zai, its Affiliates or sublicensees.

Inventory. To the extent Inventory held for sale or lease has been produced by any Credit Party, it has been and will be produced by such Credit Party in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder.

Inventory. Any and all inventory, including, without limitation, any samples, raw materials, work in progress, supplies, spare parts, finished products, shipping containers, labels, packaging, materials, and any prepaid inventory, whether in the possession of Seller, on consignment or otherwise in the possession of a third party, or in transit to Seller (the “Inventory”);

Inventory. Licensee shall furnish to Licensor, not less than twenty-one (21) days before the expiration of the License Period and not more than fifteen (15) business days after receipt of a notice of termination, termination by operation of Law or the automatic termination of this Agreement, a statement certified by an authorized representative of Licensee showing the number and description of the Licensed Products and/or Advertising and Promotion materials on-hand held for Licensee’s inventory or in process of manufacture (collectively, “Inventory”), specifying the quantity, type, class, category, SKU number and condition of all items of the Inventory. Except as Licensor may otherwise agree, all cancelable orders for the production of Licensed Products shall promptly be canceled.

Business Inventory. All Business Inventory consists of a quality and quantity usable and salable in the ordinary course of business consistent with past practice, except for obsolete, damaged, defective or slow-moving items that have been written off or written down to fair market value or for which adequate reserves have been established. All Business Inventory is owned by Seller free and clear of all Encumbrances, and no Business Inventory is held on a consignment basis. The quantities of each item of Business Inventory (whether raw materials, work-in-process or finished goods) are not excessive, but are reasonable in the present circumstances of Seller.

Inventory. In the event of a termination of this Agreement, INNOCOLL will have the right, but not the obligation, for ​ following the effective date of such termination to sell any remaining inventory of Licensed Product controlled by INNOCOLL or its Affiliates, as long as INNOCOLL continues to make milestone payments and pay Royalties under Article 6 in respect of the Net Sales resulting from sales of such inventory.