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Commitments
9 Months Ended
Sep. 30, 2022
Commitments  
Commitments

22.    Commitments

Commitment for inventory purchases

The Company was awarded two new contracts with the United States Government Defense Logistics Agency (the “DLA”) on April 1, 2021. The new contracts (one for the Eastern portion of the United States and one for the Western portion of the United States) cover both surplus non-rolling and rolling stock. Both contracts commenced on June 1, 2021 and have a base term of two years with three one-year renewal options. 

During the first two years of the contracts, the Company is committed to purchase on a combined basis up to either: (i) 600,000 assets, or (ii) assets with an expected minimum value of up to $77.0 million; whichever is less. At September 30, 2022, the Company has purchased 328,685 assets with a total value of $71.6 million pursuant to the two year period of this contract, which commenced on June 1, 2021.