Consumable Inventory definition

Consumable Inventory means the stock of consumables used in the operation and maintenance of the Hotel in the Ordinary Course, including, without limitation, all merchandise, food and beverages for sale in connection with the operation of the Hotel including Liquor Inventory; provided, however that Consumable Inventory shall not include: (A) Supply Inventory, and (B) “operating inventory” as that term is used in the Uniform System of Accounts to the extent included in the FF&E.
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Consumable Inventory means green coffee, tea, spices and other food products, raw materials, work in process, finished goods, packaging, wrapping, supply items, all disposable products (meaning products that are customarily disposed of after their use), and all other similar items, that are classified as inventory consistent with Seller’s customary accounting practices, the Financial Statements and the Historical Financial Statements.
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Consumable Inventory means all merchandise, food and beverages (including without limitation merchandise, food and beverages located in guest rooms) at the Property and/or used in connection with the operation of the Property.
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Examples of Consumable Inventory in a sentence

  • Lessor and Lessee acknowledge that certain inventory, including consumables, at the Facility, as of the Commencement Date ("Consumable Inventory") will be completely consumed or otherwise disposed of during the course of Lessee's operation of the Facility.

  • Such inventory shall reflect the value of such Unopened Consumable Inventory on hand as of the Closing Date at the acquisition cost thereof.

  • Seller shall receive a credit at Closing in an amount equal to the total value of the Unopened Consumable Inventory as reflected in such inventory.

  • Lessor shall have the right to inspect the Lessee's Personal Property and Consumable Inventory, and Lessee's books and records concerning the same, for any purpose in connection with preparation of the Notice of Exercise or otherwise in connection with Lessee's Purchase Option granted hereunder, on at least one Business Day's prior notice during usual business hours, and Lessee shall cooperate with Lessor in connection therewith.

  • Seller is the owner of fee interests in the Land, the improvements and buildings on the Land and related amenities, commonly referred to as the Burbank Airport Hilton & Convention Center (the “Hotel”), and the owner of the Fixtures and Tangible Personal Property, Operating Equipment, Consumables and Unopened Consumable Inventory, and has rights and interests in and title to various of the Miscellaneous Hotel Assets (each as hereinafter defined).

  • In the event Lessor desires to exercise its Purchase Option granted under this Paragraph 6.4, Lessor shall give Lessee written Notice ("Notice of Exercise") not less than thirty (30) days prior to the expiration of the Term, which Notice of Exercise shall identify with reasonable specificity all items of Lessee's Personal Property and Consumable Inventory which Lessor desires to purchase (collectively, the "Purchase Option Property") and Lessor's estimation of the Option Purchase Price applicable thereto.

  • Such report shall reflect the value of the Unopened Consumable Inventory on hand as of the Closing Date at the acquisition cost thereof and shall be certified by Manager to Seller and Purchaser as accurately reflecting all Unopened Consumable Inventory at the Hotel as of the Closing Date and the acquisition cost thereof.

  • Lessee agrees that, at the end of the Term or earlier termination of the Lease, it shall replace and restore the Consumable Inventory to the type and amount (with the same value) as that existing as of the Commencement Date, and as may otherwise be sufficient to fully equip each Facility for its operation and maintenance as may be customary for properties comparable to the Leased Property in the State of Ohio.

  • Without the prior written consent of Household Bank, Sellers shall not sell, lease, assign, transfer, encumber or permit the encumbrance of, or otherwise dispose of, any of the Credit Card Assets except pursuant to this Agreement or the Securitization Contracts and except for the use of the Consumable Inventory.

  • Lessee agrees that, at all times during the Term, Lessee shall replace and restore the Consumable Inventory in accordance with normal business practices, so that at all times during the Term there is sufficient Consumable Inventory to fully equip such Facility for its operation and maintenance as may be customary for educational facilities comparable to such Facility.


More Definitions of Consumable Inventory

Consumable Inventory. Sellers' inventory of plastic, paper, supplies, envelopes and other consumable items used exclusively in the Credit Card Business.
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Consumable Inventory shall have the meaning given to such term in Section 2(a) hereof.
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Consumable Inventory means usable (not spoiled or outdated) unopened and sealed food, beverage and liquor inventory.
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Consumable Inventory means all office, cleaning, engineering, laundry and valet supplies; decorations, advertising and promotional materials and supplies; and any and all usable inventory owned by Seller and used by guests of the Property for consumption or usage in the course of their stay, including: printing and stationery, guest supplies (including soap, matches, toilet and facial tissues); maintenance and housekeeping supplies; linens, towels, china, glassware, tablecloths, napkins, and all usable food and beverages, and provided Buyer or Hotel Manager has obtained valid liquor licenses in accordance with all applicable laws, including, beer, wine and liquor, all as may be permitted by applicable law, all as of the date hereof located at and used in the operation of the Property as a going concern, subject to such depletion and including such resupplies as shall occur as herein expressly permitted in the ordinary course of business between the date hereof and the Closing. Consumable Inventory shall include items in use and in inventory or storerooms at the Property or as otherwise held in reserve.
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Consumable Inventory means all Inventory other than MDC Inventory.
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Related to Consumable 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.

  • Obsolete Inventory means items that have expired, are redundant or damaged;

  • Eligible Inventory means and include Inventory, excluding work in process, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in, first-out basis, which is not obsolete, slow moving or unmerchantable as determined by Agent in its Permitted Discretion and which Inventory, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). Notwithstanding anything herein to the contrary, no Inventory shall be Eligible Inventory to the extent such Inventory was acquired by a Borrower pursuant to an entity creation under Section 7.12 or a Permitted Acquisition, unless Agent has (i) completed field examinations with respect to such Inventory, the results of which are satisfactory in form and substance to Agent in its Permitted Discretion or (ii) waived such restriction in its Permitted Discretion. In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than between one or more locations where Borrowers are permitted hereunder to maintain or store Inventory and such location is the subject of a Lien Waiver Agreement or a Processor’s Agreement, as applicable, unless such location is owned by Borrower); (c) is located outside the continental United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory (other than Consigned Inventory that is subject to a warehouseman’s waiver in form and substance satisfactory to Agent); (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion); (g) at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by Agent), is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Agent a Lien Waiver Agreement or a Processor’s Agreement, as applicable (or Agent shall have established reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); or (h) if the sale of such Inventory would result in the creation of a Receivable which, on the date of such sale, would fail to constitute an Eligible Receivable due to the operation of any of clauses (b), (c) or (e) – (p) of such definition.

  • Product Inventory means all inventory owned as of the Closing by Seller or any Affiliate thereof of finished Product that is in conformance with the Specifications and has an expiration date of October 1, 2016 or later, regardless of whether such inventory is held at a location or facility of Seller or any Affiliate (or of any other Person on behalf of Seller or any Affiliate, including in any of Seller’s warehouses, manufacturers, suppliers, distributors or consignees) or in transit to or from Seller or any Affiliate (or any such other Person).

  • Inventories means “Inventories” as defined in the Uniform System of Accounts, such as, but not limited to, provisions in storerooms, refrigerators, pantries and kitchens; beverages in wine cellars and bars; other merchandise intended for sale; fuel; mechanical supplies; stationery; and other expensed supplies and similar items.