Apparel Inventory definition
Apparel Inventory means that part of the Borrower’s Inventory which is clothing for sale to the general public and which is not New Textbook Inventory, Used Textbook Inventory or On Campus Inventory.
Apparel Inventory means that part of the Borrower's Inventory which is clothing for sale to the general public and which is not New Textbook Inventory, Used Textbook Inventory or On Campus Inventory. "Assignment" means a direct assignment of Payments under Government Contracts, pursuant to and in compliance with the Assignment of Claims Act. "Assignment of Claims Act" means ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ Code 3727, and ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ Code 15, as revised or amended, and any rules or regulations issued pursuant thereto, and also shall be deemed to include any other laws, rules or regulations governing the assignment of payments under Government Contracts or claims against a Government. "BOA Collateral Accounts" means one or more restricted deposit or investment accounts owned and established by Borrower with Bank of America, N.A. or Bank of America Securities, LLC, subject to control agreements in favor of and satisfactory to the Lender, in which shall be deposited and held the BOA Investments. "BOA Investments" means the cash, instruments, securities and other Investment Property now owned or hereafter acquired by Borrower from time to time and to be held in the BOA Collateral Accounts. "Borrower" means Varsity Group Inc., a Delaware corporation, Campus Outfitters Group, LLC, a Delaware limited liability company, ▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, LLC, a Delaware limited liability company, and ▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, Inc., a Delaware corporation and to each such Person or to all of them, as the context may require, and the representations and obligations hereunder of the Persons comprised by the term "Borrower" shall be joint and several. For purposes of testing compliance with the financial covenants hereinafter, the negative covenants hereinafter, and the unused fee provided hereinafter, financial information concerning the Borrower shall mean financial information for Varsity Group Inc., Campus Outfitters Group, LLC, ▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, LLC and ▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, Inc. stated on a consolidated basis. "Borrowing Base" means: Aggregate Adjusted Collateral Value; plus Seventy-five percent (75%) of Borrower's Eligible New Textbook Inventory; plus Fifty percent (50%) of Borrower's Eligible Used Textbook Inventory; plus Fifty percent (50%) of Borrower's Eligible On Campus Inventory; plus Fifty percent (50%) of Borrower's Eligible Apparel Inventory; plus Eighty percent (80%) of Borrower's Eligible Commercial Accounts. After calculating the portion of the Borrowing Base comprised of (a) the Aggregate A...
Examples of Apparel Inventory in a sentence
No later than July 1, 2024, Purchaser shall, or shall cause its designee to, provide written notice (the “Holdback Notice”) to Seller setting forth the methodology for identifying the Inventory of the Sports Apparel Business will be designated as Retained Sports Apparel Inventory (in accordance with the definition thereof).
As promptly as possible after such physical count, and in no event later than thirty (30) days after Closing, any discrepancies between such physical count and the quantities previously disclosed by Seller to Buyer shall be resolved by mutual agreement of Buyer and Seller and the appropriate adjustments shall be made to the Purchase Price that was paid by Buyer to Seller on the date of Closing for the Apparel Inventory.