Transit Inventory Sample Clauses

Transit Inventory. Section 1-5 of the Loan Agreement is amended to read as follows:
Sample 1
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Transit Inventory. Raw materials owned by the Borrower or any of its -------------------- Subsidiaries (collectively, "inventory"), which otherwise qualifies as Eligible Inventory and (i) all title documents relating to which have been consigned (endorsed) to one of the Agents in a manner reasonably acceptable to the Agents, (ii) one of the Agents or an Approved Customs Broker is in possession of all documents of title relating to such inventory and (iii) such inventory is insured in a manner reasonably acceptable to the Agents.
Sample 1
Transit Inventory. At any time of determination thereof, the book value, at the lesser of cost or market, of inventory (x) purchased and paid for in cash, or to be purchased and paid for under a Letter of Credit or on credit terms then available to the Borrower or any Subsidiary Guarantor, by such Borrower or Subsidiary Guarantor, (y) not included in Eligible Inventory, and (z) consisting of readily saleable and merchantable finished goods or raw materials acquired and held in the ordinary course of business and as to which (i) each of the following requirements is satisfied and (ii) the Borrower has not been notified by the Administrative Agent that, in the reasonable judgment of the Administrative Agent, any such requirements are not satisfied:
Sample 1
Transit Inventory. All finished goods inventory owned by the Borrower, and which finished goods inventory is in transit to Borrowers facilities in North America with a freight carrier or shipping company which is not an Affiliate of either the Borrower or the supplier and which finished goods inventory (a) has been the subject of a transfer of title to Borrower, (b) is fully insured, (c) is subject to a first priority security interest in and Lien upon such goods in favor of the Administrative Agent (except for any possessory Lien upon such goods in the possession of a freight carrier or shipping company securing only the freight charges for the transportation of such goods to Borrower), (d) with respect to which the Administrative Agent has been designated as co-consignee on any bill of lading or document of tixxx and (e) is otherwise deemed to be Eligible Inventory hereunder.
Sample 1

Related to Transit Inventory

  • 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.

  • Eligible Inventory 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.

  • 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.

  • Physical Inventory Borrower shall conduct a physical count of the Inventory at such intervals as FINOVA requests and promptly supply FINOVA with a copy of such accounts accompanied by a report of the value (calculated at the lower of cost or market value on a first in, first out basis) of the Inventory and such additional information with respect to the Inventory as FINOVA may request from time to time.

  • Merchantable Inventory All Inventory is in all material respects of good and marketable quality, free from all material defects.

  • Inventories The Operator shall maintain detailed records of Controllable Material.

  • Accounts Receivable; Inventories The accounts and notes receivable which are reflected on the Final Closing Balance Sheet are good and collectible in the ordinary course of business at the aggregate recorded amounts thereof, less the amount of the allowance for doubtful accounts reflected thereon, and are not subject to offsets. The accounts and notes receivable of the Company which were thereafter added and which will be reflected on the Final Closing Balance Sheet are good and collectible in the ordinary course of business at the aggregate amounts recorded in its books of account, less the amount of the allowance for doubtful accounts reflected thereon (which allowance was established on a basis consistent with prior practice), and are not subject to offsets. The inventories reflected on the Audited and Unaudited Balance Sheets, and thereafter added, as reflected on the Closing Date Balance Sheet, consist of items of a quality and quantity usable or saleable within one year (except as set forth on Schedule 5.7) in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which have been written down to net realizable value or adequately reserved against on the books and records of the Company. To the extent there is inventory not listed on Schedule 5.7 of a quality and quantity not usable or saleable in the ordinary course of business within one year, in lieu of a claim for indemnification, Buyer shall sell and the Selling Shareholders shall purchase such items of inventory at the value carried on the Final Closing Balance Sheet. All inventories not written off are stated at the lower of cost or market.

  • Location of Equipment and Inventory All Equipment and Inventory are (i) located at the locations indicated on Schedule 4 (ii) in transit to such locations or (iii) in transit to a third party purchaser which will become obligated on a Receivable to the Debtor upon receipt. Except for Equipment and Inventory referred to in clauses (ii) and (iii) of the preceding sentence, the Debtor has exclusive possession and control of the Inventory and Equipment.

  • Inventory and Equipment On the date hereof, the Inventory and the Equipment (other than mobile goods) are kept at the locations listed on Schedule 5.

  • Inventory and Supplies Administrator shall order, purchase and provide to the Group on a timely basis inventory and supplies, and such other ordinary, necessary or appropriate materials which are requested by the Group and which the Group shall reasonably determine to be necessary in the operation of the Practice on the same terms commercially available to Administrator. Such inventory, supplies and other materials shall be included in Practice Expenses at their cost to Parent or Administrator, as the case may be.

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