Eligible Finished Goods Inventory definition

Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrower’s business.

Eligible Finished Goods Inventory means all Finished Goods Inventory that is Eligible Inventory.

Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrowers’ business.

Examples of Eligible Finished Goods Inventory in a sentence

• Total Eligible Finished Goods Inventory: $ RECONCILIATIONBorrower: Loan Number: Authorized Signature: Date: * A current listing and aging of accounts receivable and accounts payable are attached** Description of inventory and certification of values are attached.SAMPLE BORROWING BASE CERTIFICATE & REPORT TO LENDERFor the period ending: 20Date of last report: 20 Completed by all CAPLines asset-based sub-programs.

• Notwithstanding anything to the contrary contained herein, the aggregate amount of Eligible Finished Goods Inventory and Eligible Raw Materials Inventory owned by a Domestic Loan Party and located at one of the locations in the Netherlands as set forth on Schedule 4.25 to the Disclosure Letter and that is included in the Borrowing Base shall not exceed 10% of the Line Cap.

• As to each item of Inventory that is identified by Borrowers as Eligible Finished Goods Inventory, or Eligible Raw Materials Inventory in a Borrowing Base Certificate submitted to Agent, such Inventory is (a) of good and merchantable quality, free from known defects, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary criteria) set forth in the definition of Eligible Inventory.

• Any Inventory which is at any time Eligible Finished Goods Inventory, but which subsequently fails to meet any of the foregoing requirements, shall forthwith cease to be Eligible Finished Goods Inventory until such time as such Inventory shall meet all of the foregoing requirements.

• The following definitions are deleted from Section 1.01 of the Agreement: Active Excess Inventory, Active No Requirement Inventory, Eligible Arden Finished Goods Inventory; Eligible Arden Raw Materials Inventory; Eligible Finished Goods Inventory; Eligible Gift Inventory, Eligible Inventory, Eligible Raw Material Inventory, FFI Accounting System, Historical Inventory, Intercreditor Agreement, Seller Preferred, Senior Notes and Slow Moving Inventory.

More Definitions of Eligible Finished Goods Inventory

Eligible Finished Goods Inventory means and include finished goods Inventory, with respect to each Borrower, valued at the lower of cost or market, determined on a first-in-first-out basis, which is not, in Agent’s Permitted Discretion, obsolete, slow moving or unmerchantable and which Agent, in its Permitted Discretion, shall not deem ineligible Inventory, based on such considerations as Agent may from time to time deem appropriate including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). In addition, Inventory shall not be Eligible Finished Goods Inventory if it (a) does not conform to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof, (b) constitutes Consigned Inventory, (c) is the subject of an Intellectual Property Claim; (d) is subject to a License Agreement or other agreement that in any material respect limits, conditions or restricts any Borrower’s or Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement; (e) is situated at a location not listed on Schedule 4.5 as of the Closing Date or is situated at an Access Agreement Location and no Collateral Access Agreement is in effect in favor of Agent unless a rent reserve has been established by Agent with respect thereto, (f) unless it is Eligible In-Transit Finished Goods Inventory, it is located outside the continental United States, Canada, or Puerto Rico, or at a location that is not listed on Schedule 4.5, provided that, finished goods Inventory located in Puerto Rico may only constitute Eligible Finished Goods Inventory to the extent that the total amount of Eligible Raw Materials Inventory located in Puerto Rico and Eligible Finished Goods Inventory located in Puerto Rico included in the Formula Amount (after application of the Finished Goods Inventory Advance Rate) would not exceed $2,000,000 at any time. Eligible Finished Goods Inventory shall not include Inventory being acquired pursuant to a trade Letter of Credit (other than any trade Letter of Credit issued hereunder) to the extent such trade Letter of Credit remains outstanding.

Eligible Finished Goods Inventory means Eligible Inventory consisting of finished goods available for sale (as determined in a manner acceptable to the Administrative Agent in its Permitted Discretion and consistent with past practices).

Eligible Finished Goods Inventory means, Eligible Inventory of Borrower consisting of Finished Goods Inventory.

Eligible Finished Goods Inventory means finished goods inventory in salable condition less than 180 days old, owned by a Credit Party free and clear of any Liens (other than Liens pursuant to this Agreement), and designated and identified as product to be sold to IBM as evidenced by (i) non-cancellable purchase orders from IBM or (ii) a non-cancellable written agreement that IBM will purchase such inventory, in each case, in form and substance satisfactory to IBM Credit.

Eligible Finished Goods Inventory means Inventory of a Borrower that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrowers' business (other than Eligible Food Grade Alcohol Inventory, Eligible Starch/Protein Inventory, Eligible Barreled Inventory and Eligible Barreled (Two-Year) Inventory).

Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods (a) that are held for sale in the ordinary course of Borrowers' business or (b) constitute Coffee Brewing Equipment.

Eligible Finished Goods Inventory means all of the Borrower’s and its Subsidiaries’ net finished goods inventory. “Eligible Raw Materials Inventory” shall mean all of the Borrower’s and its Subsidiaries’ net raw materials inventory.