{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "for-purposes-of-this-agreement", "type": "clause", "offset": [0, 30]}, {"key": "exclusionary-criteria", "type": "clause", "offset": [99, 120]}, {"key": "agent-shall", "type": "definition", "offset": [165, 176]}, {"key": "to-establish", "type": "definition", "offset": [192, 204]}, {"key": "from-time-to-time", "type": "clause", "offset": [262, 279]}, {"key": "reasonable-credit-judgment", "type": "definition", "offset": [287, 313]}, {"key": "in-addition", "type": "clause", "offset": [315, 326]}, {"key": "at-any-time", "type": "clause", "offset": [373, 384]}, {"key": "original-closing-date", "type": "definition", "offset": [417, 438]}, {"key": "the-criteria", "type": "clause", "offset": [457, 469]}, {"key": "applicable-advance-rate", "type": "definition", "offset": [531, 554]}, {"key": "with-respect-to", "type": "clause", "offset": [555, 570]}, {"key": "approval-of", "type": "clause", "offset": [641, 652]}, {"key": "supermajority-lenders", "type": "clause", "offset": [657, 678]}, {"key": "in-the-case", "type": "clause", "offset": [679, 690]}, {"key": "changes-in-the-applicable", "type": "clause", "offset": [721, 746]}, {"key": "effect-of", "type": "clause", "offset": [806, 815]}, {"key": "credit-available", "type": "clause", "offset": [828, 844]}, {"key": "borrowing-base-guarantor", "type": "definition", "offset": [916, 940]}, {"key": "the-collateral-agent", "type": "definition", "offset": [951, 971]}, {"key": "on-behalf-of", "type": "definition", "offset": [973, 985]}, {"key": "secured-parties", "type": "clause", "offset": [986, 1001]}, {"key": "a-first-priority", "type": "definition", "offset": [1017, 1033]}, {"key": "perfected-lien", "type": "definition", "offset": [1048, 1062]}, {"key": "in-united-states", "type": "clause", "offset": [1114, 1130]}, {"key": "premises-leased", "type": "definition", "offset": [1166, 1181]}, {"key": "by-borrower", "type": "clause", "offset": [1182, 1193]}, {"key": "a-borrowing", "type": "definition", "offset": [1197, 1208]}, {"key": "value-of-inventory", "type": "clause", "offset": [1267, 1285]}, {"key": "landlord-lien-waiver-and-access-agreement", "type": "definition", "offset": [1349, 1390]}, {"key": "waiver-letter", "type": "clause", "offset": [1714, 1727]}, {"key": "received-by", "type": "definition", "offset": [1737, 1748]}, {"key": "a-mortgage", "type": "definition", "offset": [1932, 1942]}, {"key": "in-favor-of", "type": "clause", "offset": [1943, 1954]}, {"key": "a-lender", "type": "definition", "offset": [1955, 1963]}, {"key": "mortgagee-waiver", "type": "definition", "offset": [2096, 2112]}, {"key": "on-consignment", "type": "definition", "offset": [2283, 2297]}, {"key": "eligible-consigned-inventory", "type": "definition", "offset": [2310, 2338]}, {"key": "covered-by", "type": "definition", "offset": [2348, 2358]}, {"key": "document-of-title", "type": "definition", "offset": [2372, 2389]}, {"key": "necessary-endorsements", "type": "definition", "offset": [2464, 2486]}, {"key": "free-and-clear", "type": "definition", "offset": [2488, 2502]}, {"key": "agent-and-the-lenders", "type": "clause", "offset": [2556, 2577]}, {"key": "for-sale", "type": "definition", "offset": [2777, 2785]}, {"key": "slow-moving", "type": "definition", "offset": [2797, 2808]}, {"key": "display-items", "type": "clause", "offset": [2856, 2869]}, {"key": "shipping-materials", "type": "clause", "offset": [2893, 2911]}, {"key": "replacement-parts", "type": "definition", "offset": [2939, 2956]}, {"key": "not-excluded", "type": "clause", "offset": [3055, 3067]}, {"key": "in-accordance-with", "type": "definition", "offset": [3068, 3086]}, {"key": "other-criteria", "type": "clause", "offset": [3087, 3101]}, {"key": "ordinary-course", "type": "definition", "offset": [3254, 3269]}, {"key": "representations-or-warranties", "type": "clause", "offset": [3369, 3398]}, {"key": "pertaining-to", "type": "definition", "offset": [3399, 3412]}, {"key": "the-loan-documents", "type": "clause", "offset": [3436, 3454]}, {"key": "hazardous-material", "type": "clause", "offset": [3474, 3492]}, {"key": "readily-available", "type": "definition", "offset": [3566, 3583]}, {"key": "not-covered", "type": "definition", "offset": [3595, 3606]}, {"key": "casualty-insurance", "type": "definition", "offset": [3610, 3628]}, {"key": "as-required-by", "type": "clause", "offset": [3640, 3654]}, {"key": "other-customer", "type": "definition", "offset": [3738, 3752]}, {"key": "any-person", "type": "definition", "offset": [3919, 3929]}, {"key": "the-inventory", "type": "clause", "offset": [3938, 3951]}, {"key": "to-sell", "type": "clause", "offset": [3983, 3990]}, {"key": "enforcement-of", "type": "clause", "offset": [4009, 4023]}, {"key": "further-consent", "type": "clause", "offset": [4062, 4077]}, {"key": "the-licensor", "type": "clause", "offset": [4092, 4104]}], "samples": [{"hash": "lAp6bkEnU1U", "uri": "/contracts/lAp6bkEnU1U#eligible-inventory", "label": "Credit Agreement (General Cable Corp /De/)", "score": 21.0, "published": true}, {"hash": "ai3A6bdONaS", "uri": "/contracts/ai3A6bdONaS#eligible-inventory", "label": "Credit Agreement (General Cable Corp /De/)", "score": 21.0, "published": true}, {"hash": "7V8iwqFjabZ", "uri": "/contracts/7V8iwqFjabZ#eligible-inventory", "label": "Credit Agreement (General Cable Corp /De/)", "score": 21.0, "published": true}], "snippet": "For purposes of this Agreement, Eligible Inventory shall exclude any Inventory to which any of the exclusionary criteria set forth below applies. The Administrative Agent shall have the right to establish, modify or eliminate Reserves against Eligible Inventory from time to time in its reasonable credit judgment. In addition, the Administrative Agent reserves the right, at any time and from time to time after the Original Closing Date, to adjust any of the criteria set forth below, to establish new criteria and to adjust the applicable advance rate with respect to Eligible Inventory, in its reasonable credit judgment, subject to the approval of the Supermajority Lenders in the case of adjustments, new criteria, changes in the applicable advance rate or the elimination of Reserves which have the effect of making more credit available. Eligible Inventory shall not include any Inventory of Borrower or any Borrowing Base Guarantor that:\n(i) the Collateral Agent, on behalf of Secured Parties, does not have a first priority and exclusive perfected Lien on such Inventory;\n(ii) is not located on premises in United States or Canada;\n(iii) (A) is located on premises leased by Borrower or a Borrowing Base Guarantor, unless (x) at such location the aggregate value of Inventory exceeds $250,000, and (y) either (1) a reasonably satisfactory Landlord Lien Waiver and Access Agreement has been delivered to the Collateral Agent, or (2) Reserves reasonably satisfactory to the Administrative Agent have been established with respect thereto or (B) is stored with a bailee or warehouseman where the aggregate value of Inventory exceeds $250,000 unless either (x) a reasonably satisfactory, acknowledged bailee waiver letter has been received by the Collateral Agent or (y) Reserves reasonably satisfactory to the Administrative Agent have been established with respect thereto, or (C) is located at an owned location subject to a mortgage in favor of a lender other than the Collateral Agent where the aggregate value of Inventory exceeds $250,000 unless either (x) a reasonably satisfactory mortgagee waiver has been delivered to the Collateral Agent or (y) Reserves reasonably satisfactory to the Administrative Agent have been established with respect thereto;\n(iv) is placed on consignment (other than Eligible Consigned Inventory);\n(v) is covered by a negotiable document of title, unless such document has been delivered to the Collateral Agent with all necessary endorsements, free and clear of all Liens except those in favor of the Collateral Agent and the Lenders and landlords, carriers, bailees and warehousemen if clause (iii) above has been complied with;\n(vi) is to be returned to suppliers;\n(vii) is obsolete, unsalable, shopworn, seconds, damaged or unfit for sale;\n(viii) is slow moving (in excess of 1-year supply);\n(ix) consists of display items, samples or packing or shipping materials, manufacturing supplies or replacement parts (it being understood that Eligible Inventory shall not exclude work-in-process Inventory if it is not excluded in accordance with other criteria set forth herein, unless otherwise determined by the Administrative Agent in its reasonable credit judgment);\n(x) is not of a type held for sale in the ordinary course of Borrower\u2019s or any Borrowing Base Guarantor\u2019s, as applicable, business;\n(xi) breaches any of the representations or warranties pertaining to Inventory set forth in the Loan Documents;\n(xii) consists of Hazardous Material or goods that can be transported or sold only with licenses that are not readily available;\n(xiii) is not covered by casualty insurance maintained as required by Section 5.04;\n(xiv) consists of custom made Inventory which is not saleable to any other customer or in ordinary course;\n(xv) is in transit; or\n(xvi) is subject to any licensing arrangement the effect of which would be to limit the ability of Collateral Agent, or any Person selling the Inventory on behalf of Collateral Agent, to sell such Inventory in enforcement of the Collateral Agent\u2019s Liens, without further consent or payment to the licensor or other.", "size": 154, "hash": "c37e24adb9a2ee7f803dc74c4213ba42", "id": 1}, {"snippet_links": [{"key": "free-from-defects", "type": "clause", "offset": [60, 77]}], "samples": [{"hash": "rTUuvTygDW", "uri": "/contracts/rTUuvTygDW#eligible-inventory", "label": "Loan and Security Agreement (Global Sports Inc)", "score": 18.0, "published": true}, {"hash": "lTRDRcGomhJ", "uri": "/contracts/lTRDRcGomhJ#eligible-inventory", "label": "Loan and Security Agreement (Ultimate Electronics Inc)", "score": 18.0, "published": true}, {"hash": "l8MjLkJZsZX", "uri": "/contracts/l8MjLkJZsZX#eligible-inventory", "label": "Loan and Security Agreement (Garden Botanika Inc)", "score": 18.0, "published": true}], "snippet": "All Eligible Inventory is of good and merchantable quality, free from defects.", "size": 38, "hash": "651f3984f017f43aea0d53af9357351f", "id": 4}, {"snippet_links": [{"key": "based-on", "type": "definition", "offset": [0, 8]}, {"key": "most-recent", "type": "definition", "offset": [13, 24]}, {"key": "borrowing-base-certificate", "type": "definition", "offset": [25, 51]}, {"key": "by-the-borrower", "type": "clause", "offset": [62, 77]}, {"key": "available-to", "type": "definition", "offset": [116, 128]}, {"key": "the-agent-shall", "type": "clause", "offset": [140, 155]}, {"key": "credit-judgment", "type": "definition", "offset": [163, 178]}, {"key": "the-borrower-shall", "type": "clause", "offset": [208, 226]}, {"key": "for-purposes-of", "type": "clause", "offset": [280, 295]}, {"key": "to-the-borrower", "type": "clause", "offset": [344, 359]}, {"key": "the-revolving-credit-loan", "type": "clause", "offset": [366, 391]}, {"key": "swing-line-loan", "type": "definition", "offset": [400, 415]}, {"key": "without-limiting-the-foregoing", "type": "clause", "offset": [417, 447]}, {"key": "owned-by", "type": "definition", "offset": [533, 541]}, {"key": "free-and-clear", "type": "definition", "offset": [555, 569]}, {"key": "rights-of", "type": "clause", "offset": [587, 596]}, {"key": "any-other-person", "type": "definition", "offset": [597, 613]}, {"key": "the-rights", "type": "clause", "offset": [625, 635]}, {"key": "progress-payments", "type": "definition", "offset": [665, 682]}, {"key": "with-respect-to", "type": "clause", "offset": [770, 785]}, {"key": "the-liens", "type": "clause", "offset": [810, 819]}, {"key": "in-favor-of", "type": "clause", "offset": [820, 831]}, {"key": "on-behalf-of", "type": "definition", "offset": [843, 855]}, {"key": "the-lenders", "type": "clause", "offset": [867, 878]}, {"key": "similar-person", "type": "definition", "offset": [1009, 1023]}, {"key": "after-the-effective-date", "type": "clause", "offset": [1061, 1085]}, {"key": "bailee-letter", "type": "definition", "offset": [1138, 1151]}, {"key": "landlord-waiver", "type": "definition", "offset": [1155, 1170]}, {"key": "value-of-inventory", "type": "clause", "offset": [1341, 1359]}, {"key": "on-consignment", "type": "definition", "offset": [1425, 1439]}, {"key": "covered-by", "type": "definition", "offset": [1551, 1561]}, {"key": "document-of-title", "type": "definition", "offset": [1575, 1592]}, {"key": "evidence-of", "type": "definition", "offset": [1619, 1630]}, {"key": "acceptable-insurance", "type": "clause", "offset": [1631, 1651]}, {"key": "reasonable-determination", "type": "definition", "offset": [1734, 1758]}, {"key": "for-sale", "type": "definition", "offset": [1839, 1847]}, {"key": "display-items", "type": "clause", "offset": [1871, 1884]}, {"key": "promotional-materials", "type": "definition", "offset": [1886, 1907]}, {"key": "shipping-materials", "type": "clause", "offset": [1920, 1938]}, {"key": "replacement-parts", "type": "definition", "offset": [1993, 2010]}, {"key": "by-the-buyer", "type": "clause", "offset": [2066, 2078]}, {"key": "ordinary-course", "type": "definition", "offset": [2130, 2145]}, {"key": "moving-items", "type": "clause", "offset": [2217, 2229]}, {"key": "substandard-quality", "type": "clause", "offset": [2259, 2278]}, {"key": "a-first-priority", "type": "definition", "offset": [2484, 2500]}, {"key": "perfected-lien", "type": "definition", "offset": [2501, 2515]}, {"key": "representations-or-warranties", "type": "clause", "offset": [2546, 2575]}, {"key": "pertaining-to", "type": "definition", "offset": [2576, 2589]}, {"key": "agreement-or", "type": "definition", "offset": [2618, 2630]}, {"key": "borrower-security-agreement", "type": "clause", "offset": [2635, 2662]}, {"key": "associated-with", "type": "definition", "offset": [2708, 2723]}, {"key": "hazardous-materials", "type": "definition", "offset": [2769, 2788]}, {"key": "readily-available", "type": "definition", "offset": [2862, 2879]}, {"key": "not-covered", "type": "definition", "offset": [2897, 2908]}, {"key": "casualty-insurance", "type": "definition", "offset": [2912, 2930]}], "samples": [{"hash": "aZ1nJ1zWa3w", "uri": "/contracts/aZ1nJ1zWa3w#eligible-inventory", "label": "Credit Agreement (Synnex Corp)", "score": 23.8117733002, "published": true}, {"hash": "7zzxudUMoqN", "uri": "/contracts/7zzxudUMoqN#eligible-inventory", "label": "Credit Agreement (Synnex Corp)", "score": 21.8788509369, "published": true}], "snippet": "Based on the most recent Borrowing Base Certificate delivered by the Borrower to the Agent and on other information available to the Agent, the Agent shall in its Credit Judgment determine which Inventory of the Borrower shall be deemed to be \u201cEligible Inventory\u201d of the Borrower for purposes of determining the amounts, if any, to be advanced to the Borrower under the Revolving Credit Loan and the Swing Line Loan. Without limiting the foregoing, Eligible Inventory shall not include any Inventory of the Borrower:\n(i) that is not owned by the Borrower free and clear of all Liens and rights of any other Person (including the rights of a purchaser that has made progress payments and the rights of a surety that has issued a bond to assure the Borrower\u2019s performance with respect to that Inventory), except the Liens in favor of the Agent, on behalf of itself and the Lenders;\n(ii) that is (i) not located on premises owned, leased or operated by the Borrower or (ii) stored with a bailee, warehouseman or similar Person, unless, commencing ninety (90) days after the Effective Date, either, at Borrower\u2019s election, (x) a satisfactory bailee letter or landlord waiver has been delivered to the Agent, or (y) Reserves satisfactory to the Agent have been established with respect thereto, or (iii) located at any site if the aggregate book value of Inventory at any such location is less than $100,000;\n(iii) that is placed on consignment, is in transit or is otherwise not located on premises owned, leased or operated by the Borrower;\n(iv) that is covered by a negotiable document of title, unless such document and evidence of acceptable insurance covering such Inventory have been delivered to the Agent;\n(v) that in the Agent\u2019s reasonable determination, is excess, obsolete, unsalable, shopworn, seconds, damaged, imperfect or unfit for sale;\n(vi) that consists of display items, promotional materials, packing or shipping materials, manufacturing supplies, work-in-process Inventory or replacement parts;\n(vii) that consists of goods which have been returned by the buyer;\n(viii) that is not of a type held for sale in the ordinary course of the Borrower\u2019s business;\n(ix) that consists of discontinued or slow-moving items (over 90 days old), goods of substandard quality or goods classified as \u201cclearance inventory\u201d;\n(x) that is \u2587\u2587\u2587\u2587-and-hold inventory or that is evidenced by an account;\n(xi) as to which the Agent\u2019s Lien, on behalf of itself and the Lenders, therein is not a first priority perfected Lien;\n(xii) as to which any of the representations or warranties pertaining to Inventory set forth in this Agreement or the Borrower Security Agreement is untrue;\n(xiii) that consists of any costs associated with \u201cfreight-in\u201d charges;\n(xiv) that consists of Hazardous Materials or goods that can be transported or sold only with licenses that are not readily available; or\n(xv) that is not covered by casualty insurance acceptable to the Agent.", "size": 39, "hash": "468d3dd62a2b8e167c42903b49ea332d", "id": 3}, {"snippet_links": [{"key": "eligible-finished-goods-inventory", "type": "definition", "offset": [84, 117]}, {"key": "eligible-raw-materials-inventory", "type": "definition", "offset": [122, 154]}, {"key": "borrowing-base-certificate", "type": "definition", "offset": [160, 186]}, {"key": "known-defects", "type": "definition", "offset": [273, 286]}, {"key": "not-excluded", "type": "clause", "offset": [296, 308]}, {"key": "the-definition-of", "type": "definition", "offset": [433, 450]}], "samples": [{"hash": "aiqZNeij7lN", "uri": "/contracts/aiqZNeij7lN#eligible-inventory", "label": "Fifth Amendment to Credit Agreement and First Amendment to Guaranty and Security Agreement (Oil States International, Inc)", "score": 34.5783691406, "published": true}, {"hash": "1zwezQ0QO0e", "uri": "/contracts/1zwezQ0QO0e#eligible-inventory", "label": "Credit Agreement (Oil States International, Inc)", "score": 33.1382598877, "published": true}, {"hash": "2KDjstnLuYp", "uri": "/contracts/2KDjstnLuYp#eligible-inventory", "label": "Credit Agreement (Oil States International, Inc)", "score": 32.1279945374, "published": true}], "snippet": "As to each item of Inventory that is identified by Borrowers as Eligible Inventory, 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 \u201cEligible Inventory\u201d.", "size": 23, "hash": "5f6ca3ca17f776f31e5d6f9dc4f917c3", "id": 9}, {"snippet_links": [{"key": "borrowing-base-certificate", "type": "definition", "offset": [91, 117]}, {"key": "known-defects", "type": "definition", "offset": [204, 217]}, {"key": "not-excluded", "type": "clause", "offset": [227, 239]}, {"key": "definition-of-eligible-inventory", "type": "clause", "offset": [364, 396]}], "samples": [{"hash": "e3XnlmbBlze", "uri": "/contracts/e3XnlmbBlze#eligible-inventory", "label": "Credit Agreement (BOISE CASCADE Co)", "score": 34.3360710144, "published": true}, {"hash": "arVMKWxgVd7", "uri": "/contracts/arVMKWxgVd7#eligible-inventory", "label": "Credit Agreement (BOISE CASCADE Co)", "score": 33.8295669556, "published": true}, {"hash": "aHQ11EboRQj", "uri": "/contracts/aHQ11EboRQj#eligible-inventory", "label": "Credit Agreement (BOISE CASCADE Co)", "score": 31.8281993866, "published": true}], "snippet": "As to each item of Inventory that is identified by any Borrower as Eligible 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 Agent-discretionary criteria) set forth in the definition of Eligible Inventory.", "size": 144, "hash": "ef19b99b4299ca171bba53cffec4451d", "id": 2}, {"snippet_links": [{"key": "based-on", "type": "definition", "offset": [0, 8]}, {"key": "most-recent", "type": "definition", "offset": [13, 24]}, {"key": "borrowing-base-certificate", "type": "definition", "offset": [25, 51]}, {"key": "by-borrower", "type": "clause", "offset": [62, 73]}, {"key": "available-to", "type": "definition", "offset": [108, 120]}, {"key": "agent-shall", "type": "definition", "offset": [128, 139]}, {"key": "reasonable-credit-judgment", "type": "definition", "offset": [147, 173]}, {"key": "borrower-shall", "type": "clause", "offset": [208, 222]}, {"key": "for-purposes-of-this-agreement", "type": "clause", "offset": [247, 277]}, {"key": "exclusionary-criteria", "type": "clause", "offset": [438, 459]}, {"key": "to-establish", "type": "definition", "offset": [512, 524]}, {"key": "from-time-to-time", "type": "clause", "offset": [582, 599]}, {"key": "in-addition", "type": "clause", "offset": [635, 646]}, {"key": "at-any-time", "type": "clause", "offset": [674, 685]}, {"key": "after-the-closing-date", "type": "clause", "offset": [708, 730]}, {"key": "advance-rates", "type": "clause", "offset": [801, 814]}, {"key": "with-respect-to", "type": "clause", "offset": [815, 830]}, {"key": "approval-of", "type": "clause", "offset": [901, 912]}, {"key": "supermajority-revolving-lenders", "type": "definition", "offset": [913, 944]}, {"key": "in-the-case", "type": "clause", "offset": [945, 956]}, {"key": "in-advance", "type": "clause", "offset": [997, 1007]}, {"key": "effect-of", "type": "clause", "offset": [1029, 1038]}, {"key": "credit-available", "type": "clause", "offset": [1051, 1067]}, {"key": "requirement-of-approval", "type": "clause", "offset": [1086, 1109]}, {"key": "supermajority-lenders", "type": "clause", "offset": [1117, 1138]}, {"key": "in-its-discretion", "type": "clause", "offset": [1176, 1193]}, {"key": "by-agent", "type": "clause", "offset": [1271, 1279]}, {"key": "pursuant-to-the", "type": "definition", "offset": [1280, 1295]}, {"key": "owned-by", "type": "definition", "offset": [1512, 1520]}, {"key": "free-and-clear", "type": "definition", "offset": [1536, 1550]}, {"key": "rights-of", "type": "clause", "offset": [1568, 1577]}, {"key": "any-other-person", "type": "definition", "offset": [1578, 1594]}, {"key": "the-rights", "type": "clause", "offset": [1606, 1616]}, {"key": "progress-payments", "type": "definition", "offset": [1646, 1663]}, {"key": "the-liens", "type": "clause", "offset": [1792, 1801]}, {"key": "in-favor-of", "type": "clause", "offset": [1802, 1813]}, {"key": "on-behalf-of", "type": "definition", "offset": [1821, 1833]}, {"key": "permitted-encumbrances", "type": "definition", "offset": [1858, 1880]}, {"key": "landlords-and-bailees", "type": "clause", "offset": [1893, 1914]}, {"key": "to-the-extent", "type": "clause", "offset": [1915, 1928]}, {"key": "section-59", "type": "clause", "offset": [1942, 1953]}, {"key": "in-accordance-with", "type": "definition", "offset": [2003, 2021]}, {"key": "prior-consent", "type": "clause", "offset": [2148, 2161]}, {"key": "lien-waiver", "type": "definition", "offset": [2229, 2240]}, {"key": "landlord-waiver", "type": "definition", "offset": [2493, 2508]}, {"key": "similar-person", "type": "definition", "offset": [2679, 2693]}, {"key": "bailee-letter", "type": "definition", "offset": [2774, 2787]}, {"key": "value-of-inventory", "type": "clause", "offset": [2967, 2985]}, {"key": "on-consignment", "type": "definition", "offset": [3051, 3065]}, {"key": "inventory-in-transit", "type": "clause", "offset": [3095, 3115]}, {"key": "locations-of-borrowers", "type": "clause", "offset": [3142, 3164]}, {"key": "covered-by", "type": "definition", "offset": [3251, 3261]}, {"key": "document-of-title", "type": "definition", "offset": [3275, 3292]}, {"key": "necessary-endorsements", "type": "definition", "offset": [3352, 3374]}, {"key": "agent-and-lenders", "type": "definition", "offset": [3429, 3446]}, {"key": "reasonable-determination", "type": "definition", "offset": [3469, 3493]}, {"key": "for-sale", "type": "definition", "offset": [3563, 3571]}, {"key": "display-items", "type": "clause", "offset": [3599, 3612]}, {"key": "shipping-materials", "type": "clause", "offset": [3627, 3645]}, {"key": "parts-inventory", "type": "definition", "offset": [3680, 3695]}, {"key": "not-held", "type": "definition", "offset": [3705, 3713]}, {"key": "third-party-customers", "type": "definition", "offset": [3743, 3764]}, {"key": "in-the-ordinary-course-of-business", "type": "definition", "offset": [3765, 3799]}, {"key": "replacement-parts", "type": "definition", "offset": [3830, 3847]}, {"key": "by-the-buyer", "type": "clause", "offset": [3957, 3969]}, {"key": "lease-or-rental", "type": "definition", "offset": [4015, 4030]}, {"key": "first-priority-lien", "type": "definition", "offset": [4113, 4132]}, {"key": "in-clause", "type": "clause", "offset": [4231, 4240]}, {"key": "the-definition", "type": "definition", "offset": [4248, 4262]}, {"key": "representations-or-warranties", "type": "clause", "offset": [4343, 4372]}, {"key": "pertaining-to", "type": "definition", "offset": [4373, 4386]}, {"key": "agreement-or", "type": "definition", "offset": [4415, 4427]}, {"key": "the-security-agreement", "type": "clause", "offset": [4428, 4450]}, {"key": "hazardous-materials", "type": "definition", "offset": [4484, 4503]}, {"key": "readily-available", "type": "definition", "offset": [4577, 4594]}, {"key": "not-covered", "type": "definition", "offset": [4610, 4621]}, {"key": "casualty-insurance", "type": "definition", "offset": [4625, 4643]}, {"key": "outside-of-the-united-states", "type": "clause", "offset": [4688, 4716]}, {"key": "trademark-license", "type": "definition", "offset": [4847, 4864]}, {"key": "payment-of-royalties", "type": "clause", "offset": [4879, 4899]}, {"key": "the-licensor", "type": "clause", "offset": [4936, 4948]}, {"key": "dollar-amount", "type": "definition", "offset": [4997, 5010]}, {"key": "customer-deposit", "type": "definition", "offset": [5033, 5049]}, {"key": "advance-payment", "type": "clause", "offset": [5053, 5068]}, {"key": "not-excluded", "type": "clause", "offset": [5078, 5090]}, {"key": "eligible-accounts", "type": "clause", "offset": [5116, 5133]}, {"key": "from-work", "type": "clause", "offset": [5191, 5200]}], "samples": [{"hash": "dwkT7yTyDJV", "uri": "/contracts/dwkT7yTyDJV#eligible-inventory", "label": "Credit Agreement (Astec Industries Inc)", "score": 19.0, "published": true}], "snippet": "Based on the most recent Borrowing Base Certificate delivered by Borrower to Agent and on other information available to Agent, Agent shall in its reasonable credit judgment determine which Inventory of each Borrower shall be \"Eligible Inventory\" for purposes of this Agreement. In determining whether any particular Inventory of any Borrower constitutes Eligible Inventory, Agent shall not include any such Inventory to which any of the exclusionary criteria set forth below applies. Agent shall have the right to establish, modify or eliminate Reserves against Eligible Inventory from time to time in its reasonable credit judgment. In addition, Agent reserves the right, at any time and from time to time after the Closing Date, to adjust any such criteria, to establish new criteria and to adjust advance rates with respect to Eligible Inventory, in its reasonable credit judgment, subject to the approval of Supermajority Revolving Lenders in the case of adjustments, new criteria or changes in advance rates which have the effect of making more credit available (except that such requirement of approval of the Supermajority Lenders shall not apply in the case of Agent in its discretion modifying or eliminating Reserves, new criteria or advance rates established by Agent pursuant to the immediately preceding sentence against Eligible Inventory from time to time which have the effect of making more credit available). Eligible Inventory shall not include any Inventory of any Borrower:\n(i) that is not owned by such Borrowers free and clear of all Liens and rights of any other Person (including the rights of a purchaser that has made progress payments and the rights of a surety that has issued a bond to assure such Borrower's performance with respect to that Inventory), except the Liens in favor of Agent, on behalf of itself and Lenders, and Permitted Encumbrances in favor of landlords and bailees to the extent permitted in Section 5.9 hereof (subject to Reserves established by Agent in accordance with Section 5.9 hereof);\n(ii) that is (A) not located on premises owned or leased by such Borrower unless (x) Agent has given its prior consent thereto and unless a reasonably satisfactory access and offset and Lien waiver, has been delivered to Agent, or (y) Reserves reasonably satisfactory to Agent have been established with respect thereto, (B) stored at a lease location, unless Agent has given its prior consent thereto and unless either (x) a reasonably satisfactory landlord waiver has been delivered to Agent, or (y) Reserves reasonably satisfactory to Agent have been established with respect thereto, or (C) is stored with a bailee, warehouseman or similar Person, unless Agent has given its prior consent thereto and unless (x) a satisfactory bailee letter or landlord waiver has been delivered to Agent, or (y) Reserves satisfactory to Agent have been established with respect thereto, or (D) located at any site if the aggregate book value of Inventory at any such location is less than $100,000;\n(iii) that is placed on consignment or is in transit, except for Inventory in transit between eligible domestic locations of Borrowers as to which Agent's Liens have been perfected at origin and destination;\n(iv) that is covered by a negotiable document of title, unless such document has been delivered to Agent with all necessary endorsements, free and clear of all Liens except those in favor of Agent and Lenders;\n(v) that, in Agent's reasonable determination, is excess, obsolete, unsalable, shopworn, seconds, damaged or unfit for sale;\n(vi) that consists of (A) display items or packing or shipping materials or manufacturing supplies, or (B) parts Inventory which is not held by such Borrower for sale to third party customers in the ordinary course of business or which is held primarily as replacement parts for any Borrower's machinery, equipment or operations;\n(vii) that consists of goods which have been returned by the buyer;\n(viii) that is not of a type held for sale, lease or rental in the ordinary course of such Borrower's business;\n(ix) that is not subject to a first priority Lien in favor of Agent on behalf of itself and Lenders, subject to Permitted Encumbrances as set forth in clause (e) of the definition thereof (subject to Reserves satisfactory to Agent);\n(x) as to which any of the representations or warranties pertaining to Inventory set forth in this Agreement or the Security Agreement is untrue;\n(xi) that consists of Hazardous Materials or goods that can be transported or sold only with licenses that are not readily available;\n(xii) that is not covered by casualty insurance acceptable to Agent;\n(xiii) that is located outside of the United States or Canada;\n(xiv) that is otherwise unacceptable to Agent in its reasonable credit judgment;\n(xv) that is subject to any patent or trademark license requiring the payment of royalties or fees or requiring the consent of the licensor thereof by Agent; or\n(xvi) to the extent of the Dollar amount of the portion of any customer deposit or advance payment which is not excluded from or reserved against Eligible Accounts under Section 1.6 (such amounts shall be held ineligible from work-in-process).", "size": 19, "hash": "853843024dc8d1ee9ae46725f2eaedd2", "id": 10}, {"snippet_links": [{"key": "the-words", "type": "definition", "offset": [0, 9]}, {"key": "at-any-time", "type": "clause", "offset": [37, 48]}, {"key": "all-of-borrower", "type": "definition", "offset": [50, 65]}], "samples": [{"hash": "18jC8fiek0p", "uri": "/contracts/18jC8fiek0p#eligible-inventory", "label": "Credit Agreement (Educational Development Corp)", "score": 37.188911438, "published": true}, {"hash": "ceFCbyW08sp", "uri": "/contracts/ceFCbyW08sp#eligible-inventory", "label": "Business Loan Agreement (AmpliTech Group, Inc.)", "score": 31.9404525757, "published": true}, {"hash": "dk36TR4YFu5", "uri": "/contracts/dk36TR4YFu5#eligible-inventory", "label": "Business Loan Agreement (Asset Based) (Ocean Bio Chem Inc)", "score": 28.8685836792, "published": true}], "snippet": "The words \u201cEligible Inventory\u201d mean, at any time, all of Borrower\u2019s Inventory as defined below, except:", "size": 30, "hash": "e43ca0f66f7beadb280dd3508ea60bbf", "id": 6}, {"snippet_links": [{"key": "eligible-finished-goods-inventory", "type": "definition", "offset": [64, 97]}, {"key": "eligible-spare-parts-inventory", "type": "definition", "offset": [99, 129]}, {"key": "transit-inventory", "type": "definition", "offset": [146, 163]}, {"key": "borrowing-base-certificate", "type": "definition", "offset": [169, 195]}, {"key": "known-defects", "type": "definition", "offset": [282, 295]}, {"key": "not-excluded", "type": "clause", "offset": [305, 317]}, {"key": "definition-of-eligible-inventory", "type": "clause", "offset": [446, 478]}, {"key": "in-the-case", "type": "clause", "offset": [480, 491]}, {"key": "after-giving", "type": "clause", "offset": [526, 538]}], "samples": [{"hash": "agv74wTJZmx", "uri": "/contracts/agv74wTJZmx#eligible-inventory", "label": "Credit Agreement (Nautilus, Inc.)", "score": 32.6016426086, "published": true}, {"hash": "1YacdRoJMTb", "uri": "/contracts/1YacdRoJMTb#eligible-inventory", "label": "Credit Agreement (Nautilus, Inc.)", "score": 32.4127311707, "published": true}, {"hash": "e3crWeKU7JM", "uri": "/contracts/e3crWeKU7JM#eligible-inventory", "label": "Credit Agreement (Nautilus, Inc.)", "score": 32.1060905457, "published": true}], "snippet": "As to each item of Inventory that is identified by Borrowers as Eligible Finished Goods Inventory, Eligible Spare Parts Inventory, or Eligible In-Transit 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 (in the case of Eligible In-Transit Inventory, after giving effect to any exclusions therefrom specified in the definition of Eligible In-Transit Inventory).", "size": 27, "hash": "3430856a0fd6e9ce38301cece06f646a", "id": 8}, {"snippet_links": [{"key": "date-of", "type": "clause", "offset": [10, 17]}, {"key": "borrowing-base-certificate", "type": "definition", "offset": [22, 48]}, {"key": "all-inventory", "type": "clause", "offset": [50, 63]}, {"key": "calculation-of", "type": "clause", "offset": [80, 94]}, {"key": "all-requirements", "type": "clause", "offset": [157, 173]}], "samples": [{"hash": "lOZlVIGhMBV", "uri": "/contracts/lOZlVIGhMBV#eligible-inventory", "label": "Abl Credit Agreement (US Foods Holding Corp.)", "score": 35.332649231, "published": true}, {"hash": "26KaEszq64N", "uri": "/contracts/26KaEszq64N#eligible-inventory", "label": "Abl Credit Agreement (US Foods Holding Corp.)", "score": 33.9472961426, "published": true}, {"hash": "6rB0txCo8Vb", "uri": "/contracts/6rB0txCo8Vb#eligible-inventory", "label": "Abl Credit Agreement (US Foods Holding Corp.)", "score": 30.4209442139, "published": true}], "snippet": "As of the date of any Borrowing Base Certificate, all Inventory included in the calculation of Eligible Inventory on such Borrowing Base Certificate satisfy all requirements of an \u201cEligible Inventory\u201d hereunder.", "size": 33, "hash": "d9052632e027ae0604a15b8f3fce5b70", "id": 5}, {"snippet_links": [{"key": "free-from-defects", "type": "clause", "offset": [60, 77]}, {"key": "administrative-borrower", "type": "definition", "offset": [130, 153]}, {"key": "borrowing-base-report", "type": "clause", "offset": [181, 202]}, {"key": "not-excluded", "type": "clause", "offset": [241, 253]}, {"key": "definition-of-eligible-inventory", "type": "clause", "offset": [336, 368]}], "samples": [{"hash": "kWlKJQvomUn", "uri": "/contracts/kWlKJQvomUn#eligible-inventory", "label": "Loan and Security Agreement (Advanced Lighting Technologies Inc)", "score": 18.0, "published": true}, {"hash": "7gURSrA4VUG", "uri": "/contracts/7gURSrA4VUG#eligible-inventory", "label": "Loan and Security Agreement (Us Home & Garden Inc)", "score": 18.0, "published": true}, {"hash": "2hcH0RdZ2T5", "uri": "/contracts/2hcH0RdZ2T5#eligible-inventory", "label": "Loan and Security Agreement (World Airways Inc /De/)", "score": 18.0, "published": true}], "snippet": "All Eligible Inventory is of good and merchantable quality, free from defects. As to each item of Inventory that is identified by Administrative Borrower as Eligible Inventory in a borrowing base report submitted to Agent, such Inventory is not excluded as ineligible by virtue of one or more of the excluding criteria set forth in the definition of Eligible Inventory.", "size": 28, "hash": "16bac2d42b2fc4094a94bfd12fae6e9f", "id": 7}], "next_curs": "ClsSVWoVc35sYXdpbnNpZGVyY29udHJhY3RzcjcLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhtlbGlnaWJsZS1pbnZlbnRvcnkjMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [["representations-and-warranties", "REPRESENTATIONS AND WARRANTIES"], ["amount-and-terms-of-credit", "Amount and Terms of Credit"], ["the-credits", "The Credits"], ["determination-of-borrowing-base", "Determination of Borrowing Base"], ["definitions", "Definitions"]], "children": [["hazardous-materials", "Hazardous Materials"], ["consignment", "Consignment"], ["customized", "Customized"], ["not-owned-other-liens", "Not Owned/Other Liens"], ["packing-shipping-materials", "Packing/Shipping Materials"]], "title": "Eligible Inventory", "size": 1039, "id": "eligible-inventory", "related": [["merchantable-inventory", "Merchantable Inventory", "Merchantable Inventory"], ["accounts-receivable-inventory", "Accounts Receivable; Inventory", "Accounts Receivable; Inventory"], ["inventory", "Inventory", "Inventory"], ["eligible-accounts", "Eligible Accounts", "Eligible Accounts"], ["eligible-receivables", "Eligible Receivables", "Eligible Receivables"]], "related_snippets": [], "updated": "2026-04-30T06:05:53+00:00"}, "json": true, "cursor": ""}}