Consigned Inventory means Inventory of any Borrower that is in the possession of another Person on a consignment, sale or return, or other basis that does not constitute a final sale and acceptance of such Inventory.
Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.
Excluded Inventory has the meaning set forth in Section 2.2(b).
Transferred Inventory has the meaning set forth in Section 2.2(a)(iii).
Approved Location means the site for the operation of the Franchised Business selected by Franchisee and approved in writing by Franchisor;