Ineligible Inventory. In addition to any Inventory which does not meet the foregoing criteria, the following Inventory is also ineligible for the purposes of determination of the Borrowing Base: (1) Fixtures and displays representing display racks sold to customers to hold and display products of Borrower; (2) Discontinued products; (3) Inventory located at third party vendors; (4) Proprietary packaging materials that include the name of the client or which are not of standard size.
Appears in 2 contracts
Sources: Revolving Credit Loan and Security Agreement (Hallwood Group Inc), Revolving Credit Loan and Security Agreement (Hallwood Group Inc)