Commodities Inventory definition
Commodities Inventory means all inventory consisting of petroleum derivative products of, and held for sale by, the Loan Parties.
Commodities Inventory means all inventory consisting of petroleum derivative products of, and held for sale by, the Loan Parties. “Compliance Certificate” is defined in Section 6.1(e).
Commodities Inventory means all inventory consisting of propane gas and other petroleum derivative products of, and held for sale by, the Borrower or any Restricted Subsidiary.
Examples of Commodities Inventory in a sentence
Each Loan Party maintains a supply inventory position policy to the effect that it will not hold on hand, as of any date, more Commodities Inventory than will be sold in the normal course of business during the following 90 days.
The Borrower maintains a supply inventory position policy to the effect that neither it nor any of the Restricted Subsidiaries will hold on hand, as of any date, more Commodities Inventory than will be sold in the normal course of business during the following 90 days.
More Definitions of Commodities Inventory
Commodities Inventory means the sum of (a) 90% of the Net Unpaid Balance of all Eligible Receivables, plus (b) 90% of the aggregate book value of all Eligible Commodities Inventory, determined following the moving weighted average method based on the lower of cost or market in accordance with GAAP, plus (c) 50% of the aggregate book value of all Eligible Non-Commodities Inventory, determined following the moving weighted average method based on the lower of cost or market in accordance with GAAP.