Applicable Inventory definition
Examples of Applicable Inventory in a sentence
Upon satisfaction of the conditions set forth in this Section 17.15(c), Agent shall execute and deliver an Applicable Inventory Limit Reduction Letter to Administrative Borrower and the applicable Plant Loan Party setting forth the amount of the permanently reduced Applicable Inventory Limit for such Plant Loan Party.
Upon receipt of each new Inventory Appraisal, the Administrative Agent shall be entitled to adjust the Applicable Inventory Percentage, as appropriate.
At the Closing, the parties will append to this Agreement a schedule setting forth the Applicable Inventory Date and the Effective Time (as defined below) for each of the Stores.
Not permit inventory receipts for each week ending as of the dates set forth in the table below, measured on a cumulative basis from and after the Sixth Amendment Closing Date, to be less than the Applicable Inventory Percentage (as set forth in the table below) of the projected cumulative inventory receipts amount for such week(s) set forth in the Obligors’ forecast delivered to the Agent, each Co-Collateral Agent and the Tranche A-1 Documentation Agent on the Sixth Amendment Closing Date.
If any Applicable Inventory will remain at such Premises at the end of such Disposition Period, then, as soon as possible but in no event later than the end of such Disposition Period, the Revolver Agent shall provide the Term Agent with written notice that the Revolver Agent and the Revolver Lenders elect to abandon such Inventory.
Inventory Formula Amount - on any date of determination thereof, an amount equal to the least of (i) $62,500,000, (ii) the sum derived by multiplying the Applicable Inventory Percentage by the Value of Eligible Inventory consisting of Finished Goods and the Applicable Inventory Percentage by the Value of Eligible Inventory consisting of Raw Materials, or (iii) the Appraised NOLV as of such date.
Inventory Formula Amount – on any date of determination thereof, an amount equal to the least of (i) $50,500,000, (ii) the sum derived by multiplying the Applicable Inventory Percentage by the Value of Eligible Inventory consisting of Finished Goods and the Applicable Inventory Percentage by the Value of Eligible Inventory consisting of Raw Materials, or (iii) the Appraised NOLV as of such date.
Article 1 of the Credit Agreement is amended as follows: (i) The definitions of "Applicable Inventory Advance Rate", "Revolving Credit Casual Male Companies Inventory Advance Rate" and "Revolving Credit RBT Inventory Advance Rate" are hereby ▇▇▇nded to extend the Rate which is applicable through December 15, 2005 to February 1, 2006.
Each Borrower acknowledges that the Applicable Accounts Percentage and the Applicable Inventory Percentage have been established based upon Agent's initial determination of the loan value of each Borrower's Eligible Accounts and Eligible Inventory as of the date of this Agreement.
There shall have been no material adverse change in the financial condition, results of operations, cash flows, assets, liabilities, business or operations of the Seller during the period between January 2, 1999 and the last Applicable Inventory Date, except for such changes as are attributable solely to acts or omissions of Buyer after each Store's Applicable Inventory Date.