{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "borrowing-base-certificate", "type": "clause", "offset": [91, 117]}, {"key": "known-defects", "type": "clause", "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}], "size": 149, "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.", "hash": "ef19b99b4299ca171bba53cffec4451d", "id": 1}, {"snippet_links": [{"key": "date-of", "type": "clause", "offset": [10, 17]}, {"key": "borrowing-base-certificate", "type": "clause", "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": "77Sjmh4ZWsS", "uri": "/contracts/77Sjmh4ZWsS#eligible-inventory", "label": "Abl Credit Agreement (US Foods Holding Corp.)", "score": 37.4161529541, "published": true}, {"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}], "size": 34, "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.", "hash": "d9052632e027ae0604a15b8f3fce5b70", "id": 4}, {"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}], "size": 38, "snippet": "All Eligible Inventory is of good and merchantable quality, free from defects.", "hash": "651f3984f017f43aea0d53af9357351f", "id": 3}, {"snippet_links": [{"key": "lesser-of", "type": "definition", "offset": [47, 56]}, {"key": "present-market-value", "type": "definition", "offset": [65, 85]}, {"key": "uniform-commercial-code", "type": "clause", "offset": [136, 159]}, {"key": "as-amended", "type": "definition", "offset": [161, 171]}, {"key": "in-effect", "type": "definition", "offset": [176, 185]}, {"key": "from-time-to-time", "type": "clause", "offset": [186, 203]}, {"key": "in-accordance-with", "type": "clause", "offset": [220, 238]}, {"key": "generally-accepted-accounting-principles", "type": "clause", "offset": [239, 279]}, {"key": "consistently-applied", "type": 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"offset": [940, 962]}, {"key": "but-excluding", "type": "clause", "offset": [1015, 1028]}, {"key": "consigned-goods", "type": "clause", "offset": [1095, 1110]}, {"key": "the-united-states-of-america", "type": "clause", "offset": [1138, 1166]}, {"key": "covered-by", "type": "definition", "offset": [1193, 1203]}, {"key": "right-to-repurchase", "type": "clause", "offset": [1229, 1248]}, {"key": "without-limitation", "type": "clause", "offset": [1323, 1341]}, {"key": "purchase-money-security-interests", "type": "clause", "offset": [1343, 1376]}, {"key": "purchased-parts", "type": "definition", "offset": [1508, 1523]}, {"key": "defective-inventory", "type": "definition", "offset": [1564, 1583]}, {"key": "not-insured", "type": "clause", "offset": [1625, 1636]}, {"key": "a-lender", "type": "definition", "offset": [1652, 1660]}, {"key": "loss-payable", "type": "clause", "offset": [1663, 1675]}, {"key": "leased-premises", "type": "clause", "offset": [1740, 1755]}, {"key": "other-third-party", "type": "definition", "offset": [1790, 1807]}, {"key": "without-bank", "type": "definition", "offset": [1808, 1820]}, {"key": "prior-written-consent", "type": "clause", "offset": [1823, 1844]}, {"key": "collateral-access-agreement", "type": "definition", "offset": [1878, 1905]}, {"key": "agreement-or", "type": "definition", "offset": [1916, 1928]}, {"key": "form-and-substance", "type": "clause", "offset": [1956, 1974]}, {"key": "in-place", "type": "definition", "offset": [1997, 2005]}, {"key": "pursuant-to", "type": "clause", "offset": [2007, 2018]}, {"key": "access-to", "type": "clause", "offset": [2153, 2162]}, {"key": "possession-of", "type": "clause", "offset": [2167, 2180]}, {"key": "sole-discretion", "type": "definition", "offset": [2242, 2257]}, {"key": "at-any-time", "type": "clause", "offset": [2318, 2329]}, {"key": "the-foregoing", "type": "definition", "offset": [2394, 2407]}, {"key": "to-be-eligible", "type": "clause", "offset": [2444, 2458]}, {"key": "calculation-of", "type": "clause", "offset": [2512, 2526]}], "samples": [{"hash": "12zZJV2EUnr", "uri": "/contracts/12zZJV2EUnr#eligible-inventory", "label": "Advance Formula Agreement (Perceptron Inc/Mi)", "score": 28.3483905792, "published": true}, {"hash": "IPoD4zTIAa", "uri": "/contracts/IPoD4zTIAa#eligible-inventory", "label": "Advance Formula Agreement (Perceptron Inc/Mi)", "score": 26.8425731659, "published": true}], "size": 18, "snippet": "Eligible Inventory\" (a) shall be valued at the lesser of cost or present market value of Debtor\u2019s Inventory (as defined in the Michigan Uniform Commercial Code, as amended and in effect from time to time), as determined in accordance with generally accepted accounting principles, consistently applied (\u201cGAAP\u201d), and as may be adjusted by Bank, in Bank's discretion, for age and seasonality or other factors affecting the value of such Inventory; and (b) shall mean all of Debtor's Inventory which is in good and merchantable condition, free from all material defects, which is not obsolete or discontinued, which would be properly classified as \u201craw materials\u201d or as \u201cfinished goods inventory\u201d under and in accordance with GAAP, and which is subject to a first priority, properly perfected security interest in favor of Bank, and which strictly complies with all Debtor's representations and warranties to Bank set forth in this Agreement, the Security Agreement and any other agreement(s) between Debtor and Bank, but excluding (i) Debtor\u2019s \"work-in-process\" inventory, supplies and packaging, consigned goods, Inventory located outside the United States of America or Canada, (ii) Inventory covered by or subject to a seller's right to repurchase, or any consensual or nonconsensual lien or security interest (including, without limitation, purchase money security interests) other than in favor of Bank, whether senior or junior to Bank's security interest, (iii) Inventory consisting of raw materials or purchased parts not in saleable form or condition, (iv) defective Inventory or Inventory under repair, (v) Inventory not insured and/or without a lender's loss payable provision in favor of Bank, (vi) Inventory located or stored at leased premises or with a bailee, warehouseman or other third party without Bank's prior written consent and unless a lessor's agreement, collateral access agreement, bailment agreement or other similar agreement in form and substance acceptable to Bank is in place, pursuant to which such lessor, bailee, warehouseman or other third party acknowledges Bank's security interest in such Inventory and permits Bank access to and possession of such Inventory, and (vii) Inventory that Bank, acting in its sole discretion, after having notified Debtor, excludes. Inventory which is at any time Eligible Inventory, but which subsequently fails to meet any of the foregoing requirements, shall forthwith cease to be Eligible Inventory and shall be immediately deducted from the calculation of Eligible Inventory.", "hash": "f16bb654556c0c1dc889d32df7359b32", "id": 9}, {"snippet_links": [{"key": "for-purposes-of-this-agreement", "type": "definition", "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": "clause", "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": "definition", "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": "clause", "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": "clause", "offset": [1166, 1181]}, {"key": "by-borrower", "type": "clause", "offset": [1182, 1193]}, {"key": "a-borrowing", "type": "definition", "offset": [1197, 1208]}, {"key": "value-of-inventory", "type": "definition", "offset": [1267, 1285]}, {"key": "landlord-lien-waiver-and-access-agreement", "type": "definition", "offset": [1349, 1390]}, {"key": "waiver-letter", "type": "definition", "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": "clause", "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": "clause", "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": "clause", "offset": [2939, 2956]}, {"key": "not-excluded", "type": "clause", "offset": [3055, 3067]}, {"key": "in-accordance-with", "type": "clause", "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": "clause", "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": "definition", "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}], "size": 149, "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.", "hash": "c37e24adb9a2ee7f803dc74c4213ba42", "id": 2}, {"snippet_links": [{"key": "cash-management-systems", "type": "definition", "offset": [7, 30]}], "samples": [{"hash": "b22PydYOq9S", "uri": "/contracts/b22PydYOq9S#eligible-inventory", "label": "Credit Agreement (Icon Health & Fitness Inc)", "score": 18.0, "published": true}, {"hash": "29e0Q07oTvZ", "uri": "/contracts/29e0Q07oTvZ#eligible-inventory", "label": "Credit Agreement (Icon Health & Fitness Inc)", "score": 18.0, "published": true}], "size": 16, "snippet": "13 1.8 Cash Management Systems...................................................... 15 1.9 Fees......................................................................... 15 1.10", "hash": "2e11cb436257e5c05319ec0fe6bced9d", "id": 10}, {"snippet_links": [{"key": "the-inventory", "type": "clause", "offset": [7, 20]}, {"key": "owned-by", "type": "definition", "offset": [21, 29]}, {"key": "the-credit-parties", "type": "clause", "offset": [30, 48]}, {"key": "most-recent", "type": "definition", "offset": [70, 81]}, {"key": "borrowing-base-certificate", "type": "clause", "offset": [82, 108]}, {"key": "by-borrower", "type": "clause", "offset": [119, 130]}, {"key": "agent-shall", "type": "definition", "offset": [134, 145]}, {"key": "for-purposes-of-this-agreement", "type": "definition", "offset": [170, 200]}, {"key": "exclusionary-criteria", "type": "clause", "offset": [243, 264]}, {"key": "in-addition-to", "type": "clause", "offset": [290, 304]}, {"key": "notice-by-agent", "type": "clause", "offset": [357, 372]}, {"key": "to-borrower", "type": "definition", "offset": [373, 384]}, {"key": "in-advance", "type": "clause", "offset": [402, 412]}, {"key": "to-establish", "type": "definition", "offset": [441, 453]}, {"key": "from-time-to-time", "type": "clause", "offset": [500, 517]}, {"key": "good-faith", "type": "clause", "offset": [525, 535]}, {"key": "credit-judgment", "type": "definition", "offset": [536, 551]}, {"key": "based-on", "type": "definition", "offset": [552, 560]}, {"key": "changes-in", "type": "definition", "offset": [604, 614]}, {"key": "after-the-closing-date", "type": "clause", "offset": [674, 696]}, {"key": "credit-party", "type": "clause", "offset": [756, 768]}, {"key": "free-and-clear", "type": "definition", "offset": [813, 827]}, {"key": "rights-of", "type": "clause", "offset": [845, 854]}, {"key": "any-other-person", "type": "definition", "offset": [855, 871]}, {"key": "the-rights", "type": "clause", "offset": [883, 893]}, {"key": "progress-payments", "type": "definition", "offset": [923, 940]}, {"key": "with-respect-to", "type": "clause", "offset": [1030, 1045]}, {"key": "bankruptcy-and-insolvency-act", "type": "definition", "offset": [1115, 1144]}, {"key": "the-liens", "type": "clause", "offset": [1163, 1172]}, {"key": "in-favour-of", "type": "definition", "offset": [1173, 1185]}, {"key": "permitted-encumbrances", "type": "clause", "offset": [1241, 1263]}, {"key": "in-clause", "type": "clause", "offset": [1274, 1283]}, {"key": "definition-of-the-term", "type": "clause", "offset": [1322, 1344]}, {"key": "claims-of", "type": "clause", "offset": [1386, 1395]}, {"key": "in-writing", "type": "definition", "offset": [1635, 1645]}, {"key": "additional-locations", "type": "definition", "offset": [1657, 1677]}, {"key": "existing-locations", "type": "definition", "offset": [1690, 1708]}, {"key": "prior-to", "type": "definition", "offset": [1746, 1754]}, {"key": "change-of-locations", "type": "clause", "offset": [1765, 1784]}, {"key": "leased-location", "type": "clause", "offset": [1807, 1822]}, {"key": "on-schedule", "type": "definition", "offset": [1838, 1849]}, {"key": "notice-thereof", "type": "clause", "offset": [1891, 1905]}, {"key": "from-borrower", "type": "clause", "offset": [1906, 1919]}, {"key": "landlord-waiver", "type": "definition", "offset": [1961, 1976]}, {"key": "landlord-lien", "type": "definition", "offset": [2036, 2049]}, {"key": "bailee-letter", "type": "definition", "offset": [2250, 2263]}, {"key": "received-by", "type": "definition", "offset": [2273, 2284]}, {"key": "subject-to", "type": "definition", "offset": [2418, 2428]}, {"key": "a-mortgage", "type": "definition", "offset": [2429, 2439]}, {"key": "a-lender", "type": "definition", "offset": [2453, 2461]}, {"key": "mortgagee-waiver", "type": "definition", "offset": [2513, 2529]}, {"key": "value-of-inventory", "type": "definition", "offset": [2608, 2626]}, {"key": "on-the-premises", "type": "definition", "offset": [2689, 2704]}, {"key": "possession-of", "type": "clause", "offset": [2722, 2735]}, {"key": "on-consignment", "type": "definition", "offset": [2764, 2778]}, {"key": "covered-by", "type": "definition", "offset": [2804, 2814]}, {"key": "document-of-title", "type": "clause", "offset": [2828, 2845]}, {"key": "necessary-endorsements", "type": "definition", "offset": [2905, 2927]}, {"key": "agent-and-lenders", "type": "definition", "offset": [2983, 3000]}, {"key": "prior-claims", "type": "clause", "offset": [3013, 3025]}, {"key": "display-items", "type": "clause", "offset": [3126, 3139]}, {"key": "shipping-materials", "type": "clause", "offset": [3154, 3172]}, {"key": "replacement-parts", "type": "clause", "offset": [3200, 3217]}, {"key": "by-the-buyer", "type": "clause", "offset": [3266, 3278]}, {"key": "ordinary-course", "type": "definition", "offset": [3322, 3337]}, {"key": "first-priority-lien", "type": "clause", "offset": [3395, 3414]}, {"key": "representations-or-warranties", "type": "clause", "offset": [3516, 3545]}, {"key": "pertaining-to", "type": "definition", "offset": [3546, 3559]}, {"key": "the-loan-documents", "type": "clause", "offset": [3583, 3601]}, {"key": "hazardous-materials", "type": "definition", "offset": [3619, 3638]}, {"key": "readily-available", "type": "definition", "offset": [3759, 3776]}, {"key": "not-covered", "type": "clause", "offset": [3785, 3796]}, {"key": "insurance-required", "type": "clause", "offset": [3809, 3827]}, {"key": "section-22", "type": "clause", "offset": [3851, 3862]}, {"key": "agreement-or", "type": "definition", "offset": [3871, 3883]}, {"key": "reasonable-determination", "type": "definition", "offset": [3994, 4018]}, {"key": "the-production", "type": "clause", "offset": [4061, 4075]}, {"key": "by-or-on-behalf-of", "type": "definition", "offset": [4298, 4316]}, {"key": "a-supplier", "type": "definition", "offset": [4317, 4327]}, {"key": "within-thirty", "type": "clause", "offset": [4328, 4341]}, {"key": "date-of-determination", "type": "definition", "offset": [4359, 4380]}, {"key": "on-delivery", "type": "clause", "offset": [4430, 4441]}, {"key": "having-been", "type": "clause", "offset": [4473, 4484]}, {"key": "agreement-for-sale", "type": "clause", "offset": [4543, 4561]}], "samples": [{"hash": "KxYMwiV8My", "uri": "/contracts/KxYMwiV8My#eligible-inventory", "label": "Credit Agreement (Playtex Products Inc)", "score": 21.0, "published": true}], "size": 30, "snippet": "All of the Inventory owned by the Credit Parties and reflected in the most recent Borrowing Base Certificate delivered by Borrower to Agent shall be \u201cEligible Inventory\u201d for purposes of this Agreement, except any Inventory to which any of the exclusionary criteria set forth below applies. In addition to Reserves established on the Closing Date, following notice by Agent to Borrower given reasonably in advance, Agent shall have the right to establish or modify Reserves against Eligible Inventory from time to time in its good faith credit judgment based on its analysis of facts or events to reflect changes in the salability of Inventory arising or discovered by Agent after the Closing Date. Eligible Inventory shall not include any Inventory of any Credit Party that:\n(a) is not owned by such Credit Party free and clear of all Liens and rights of any other Person (including the rights of a purchaser that has made progress payments, the rights of a surety that has issued a bond to assure such Credit Party\u2019s performance with respect to that Inventory and the rights of suppliers under section 81.1 of the Bankruptcy and Insolvency Act (Canada)), except the Liens in favour of Agent, on behalf of itself and Lenders, and except the Permitted Encumbrances described in clause (a), clause (e) and clause (l) of the definition of the term \u201cPermitted Encumbrances\u201d (other than the claims of suppliers under section 81.1 of the Bankruptcy and Insolvency Act (Canada));\n(b) (i) is not located on premises owned, leased or rented by such Credit Party and set forth in Schedule 5.12 (as Schedule 5.12 may be updated from time to time in writing by listing additional locations or deleting existing locations delivered by Borrower to Agent on or prior to each such change of locations), (ii) is stored at a leased location, unless listed on Schedule 5.12 or Agent has received prior written notice thereof from Borrower and unless (x) a reasonably satisfactory landlord waiver has been delivered to Agent or no statutory or contractual landlord lien exists with respect to such Inventory, or (y) Reserves satisfactory to Agent have been established with respect thereto, (iii) is stored with a bailee or warehouseman unless a reasonably satisfactory bailee letter has been received by Agent and Reserves reasonably satisfactory to Agent have been established with respect thereto, (iv) is located at an owned location subject to a mortgage in favour of a lender other than Agent, unless a reasonably satisfactory mortgagee waiver has been delivered to Agent, (v) is located at any site if the aggregate book value of Inventory at any such location is less than $50,000, or (vi) is located on the premises of, or is in the possession of, a processor;\n(c) is placed on consignment or is in transit;\n(d) 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 favour of Agent and Lenders, subject to Prior Claims;\n(e) is excess, obsolete, unsaleable, shopworn, seconds, damaged or unfit for sale;\n(f) consists of display items or packing or shipping materials, manufacturing supplies or replacement parts;\n(g) consists of goods which have been returned by the buyer;\n(h) is not of a type held for sale in the ordinary course of such Credit Party\u2019s business;\n(i) is not subject to a first priority lien in favour of Agent on behalf of itself and Lenders, subject to Prior Claims;\n(j) breaches any of the representations or warranties pertaining to Inventory set forth in the Loan Documents;\n(k) consists of Hazardous Materials or goods that can be handled, transported or sold only with permits, licenses, approvals or authorizations that are not readily available;\n(l) is not covered by casualty insurance required to be maintained under Section 2.2 of this Agreement or otherwise reasonably acceptable to Agent;\n(m) with respect to which Agent does not have the right, in Agent\u2019s reasonable determination, to freely transfer Inventory or complete the production of Inventory without the need for any license, sublicense or consent which has not been obtained; or\n(n) consists of Inventory (excluding Inventory supplied by Playtex US) which (i) has been delivered to such Credit Party by or on behalf of a supplier within thirty (30) days of the date of determination; (ii) is in the same state as such Inventory was on delivery; (iii) remains identifiable as having been supplied by such supplier; and (iv) is not subject to any agreement for sale at arm\u2019s length.", "hash": "bed221ca0d085b1ebc2fcce1867ea598", "id": 6}, {"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": "clause", "offset": [160, 186]}, {"key": "known-defects", "type": "clause", "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": 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"borrowing-base-certificate", "type": "clause", "offset": [169, 195]}, {"key": "known-defects", "type": "clause", "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}], "size": 31, "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).", "hash": "3430856a0fd6e9ce38301cece06f646a", "id": 5}, {"snippet_links": [{"key": "the-words", "type": "definition", "offset": [0, 9]}, {"key": "at-any-time", "type": "clause", "offset": [36, 47]}, {"key": "all-of-borrower", "type": "definition", "offset": [49, 64]}], "samples": [{"hash": "9DtpBnNIsbu", "uri": "/contracts/9DtpBnNIsbu#eligible-inventory", "label": "Business Loan Agreement (Asset Based) 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