Inventory Financing Sample Clauses

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Inventory Financing. Upon the written request of Borrower, Lender agrees to negotiate in good faith with Borrower and a third-party lender, which proposes to provide to Borrower inventory financing with respect to the Product (the "Financing Party"), to enter into an intercreditor agreement on terms reasonably satisfactory to Lender, providing that, effective upon the repayment of all of Borrower's obligations under the Loan Documents with respect to Pre-Approval Advances (i) each of Lender and the Financing Party will have a security interest in the First Year Sales Collateral, (ii) the Financing Party will serve as collateral agent for the First Year Sales Collateral for the benefit of Lender and the Financing Party, and (iii) the obligations of Borrower to the Financing Party shall be subordinate to the prior payment in full of all of Borrower's obligations under the Loan Documents with respect to First Year Sales Advances. ARTICLE IX
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Inventory Financing. Section 13.1 of the Short Term Credit Agreement is further amended by adding subsections (m) and (n) as follows:
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Inventory Financing. CDF will only be bound to finance Inventory with respect to which CDF has agreed to finance in the exercise of its sole discretion and then only if: (a) ACSI delivers to CDF an invoice, acceptable in form and content to CDF, relating to CDF’s agreement/approval within thirty (30) days after CDF issues its agreement/approval; (b) ACSI ships the Inventory to the respective Dealer not more than ten (10) days before or not more than three (3) days after the date of the invoice/EDI transmission relating to such Inventory; and (c) CDF has not revoked its agreement/acceptance before the shipment of the Inventory to Dealer (prior to funding an approval CDF shall have the right to cancel an approval upon oral or written notice to ACSI at any time prior to shipment). If ACSI fails to satisfy any of the foregoing conditions, CDF shall not be obligated to finance the Inventory, even though CDF may have previously agreed to finance such Inventory. Without limiting the generality of the foregoing, if CDF has not advanced funds with respect to any approval by the date such approval expires, or by such date as CDF and ACSI may have otherwise agreed to, then any invoice relating to such approval shall be deemed not received by CDF and CDF shall have no obligation to finance such invoice. With respect to invoices which satisfy the above conditions CDF shall pay ACSI the amount of the invoice, subject to the terms of the financing program then in effect between ACSI and CDF. CDF may deduct, setoff, withhold and or apply any sums or payments due from Vendor to CDF under this Agreement, any guaranty or due from Vendor to CDF under any other agreement, against any sums due from CDF to Vendor from any advance to be made by CDF against any invoice.
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Inventory Financing. Section 2 Inventory Advances of the Addendum to Financing Agreement (Inventory Financing) is hereby amended and modified to provide that, in addition to any other limitations on advances based upon Acceptable Inventory, the dollar limit that outstanding advances based upon Acceptable Inventory cannot exceed shall equal the amount of advances based upon Acceptable Inventory that are outstanding as of the date of this Third Forbearance Agreement, and such dollar limit shall be reduced hereafter by eleven thousand five hundred dollars ($11,500) each week commencing on Monday, November 23, 2009, and on each Monday thereafter until February 15, 2010.
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Related to Inventory Financing

  • Inventory To the extent Inventory held for sale or lease has been produced by any Borrower, it has been and will be produced by such Borrower in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder.

  • Accounts Receivable; Inventory (a) For each Account with respect to which Advances are requested, on the date each Advance is requested and made, such Account shall be an Eligible Account. (b) All statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing the Eligible Accounts are and shall be true and correct and all such invoices, instruments and other documents, and all of Borrower’s Books are genuine and in all respects what they purport to be. All sales and other transactions underlying or giving rise to each Eligible Account shall comply in all material respects with all applicable laws and governmental rules and regulations. Borrower has no knowledge of any actual or imminent Insolvency Proceeding of any Account Debtor whose accounts are Eligible Accounts in any Transaction Report. To the best of Borrower’s knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible Accounts are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms. (c) For any item of Inventory consisting of Eligible Inventory in any Transaction Report, such Inventory (i) consists of finished goods, in good, new, and salable condition, which is not perishable, returned (except to the extent of any refurbished Inventory in salable condition), consigned, obsolete, not sellable, damaged, or defective, and is not comprised of demonstrative or custom inventory, works in progress, packaging or shipping materials, or supplies; (ii) meets all applicable governmental standards; (iii) has been manufactured in compliance with the Fair Labor Standards Act; (iv) is not subject to any Liens, except the first priority Liens granted or in favor of Bank under this Agreement or any of the other Loan Documents and the Liens permitted under clause (j) of the definition of Permitted Liens; and (v) is located at the locations identified by Borrower in the Perfection Certificate where it maintains Inventory (or at any location permitted under Section 7.2).

  • CURRENT INVENTORY OF QUALIFIED PROPERTY In addition to the requirements of Section 10.2 of this Agreement, if there is a material change in the Qualified Property described in EXHIBIT 4, then within 60 days from the date commercial operation begins, the Applicant shall provide to the District, the Comptroller, the Appraisal District or the State Auditor’s Office a specific and detailed description of the tangible personal property, buildings, and/or permanent, nonremovable building components (including any affixed to or incorporated into real property) on the Land to which the value limitation applies including maps or surveys of sufficient detail and description to locate all such described property on the Land.

  • Inventory Management The Subrecipient must submit an annual statement identifying the status of all equipment and non-real property items purchased with ESG funds by the contract termination date. The status report should inventory all equipment and non-real properties purchased with ESG funds and state the condition of the equipment and its location.

  • Capital Equipment Collaborator’s commitment, if any, to provide ICD with capital equipment to enable the research and development activities under the Research Plan appears in Appendix B. If Collaborator transfers to ICD the capital equipment or provides funds for ICD to purchase it, then ICD will own the equipment. If Collaborator loans capital equipment to ICD for use during the CRADA, Collaborator will be responsible for paying all costs and fees associated with the transport, installation, maintenance, repair, removal, or disposal of the equipment, and ICD will not be liable for any damage to the equipment.