Discontinued Inventory definition

Discontinued Inventory as of any date, Inventory held for sale but not included in the current catalog of the Parent Borrower or any of its Restricted Subsidiaries as of such date.
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Discontinued Inventory has the meaning given in Section 5.4.
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Discontinued Inventory. Audio (Dept#12) Video (Dept#24) Television (Dept# 28) Car (Dept# 32) Portables (Dept# 42) Home Office (Dept# 52) Computer (Dept # 57) ______________________ Total Discontinued LIMIT: 12% NET INVENTORY ---------------------------------------------------------- EXCESS DISCONTINUED INVENTORY OTHER RESTRICTED INVENTORY: Service/Parts (Loc#s 70-75 & 79) Cellular Phones (Dept #35) Promotion Items (Dept# 69) 3rd Party Warranty (Dept# 71) Custom Items (Dept#65) ______________________ Total Other Restricted Items LIMIT: 12% NET INVENTORY ---------------------------------------------------------- EXCESS OTHER RESTRICTED INVENTORY The undersigned, as an authorized officer or representative of Borrower, hereby certifies that (1) all information set forth in this Borrowing Base Certificate is true and correct in all material respects, (2) all Acceptable Inventory (as defined in the Credit Agreement) is not subject to any lien, security interest or encumbrance except those in favor of the Lender, (3) that Borrower is in compliance of all of the terms and conditions of the Credit Agreement and that there is no Event of Default (as defined in the Credit Agreement) or event that, with notice or the passage of time, or both, would constitute an Event of Default under the Credit Agreement, and (4) all the representations and warranties set forth in the Credit Agreement are true and correct as of the date hereof. 45 ULTIMATE ELECTRONICS, INC. By:______________________________ Name:____________________________ Title:___________________________ EXHIBIT B (Attached to and forming a part of the Credit Agreement between Ultimate Electronics, Inc. and Norwest Business Credit, Inc. and Norwest Bank Colorado, National Association)
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Examples of Discontinued Inventory in a sentence

  • Within [***], BP will provide to BUY a listing of Discontinued Inventory on hand at BP for the prior month.

  • All Discontinued Inventory will be shipped to BUY or BUY's designated location as directed by BUY and at BUY's sole expense.

  • Title of ownership and risk of loss in such Discontinued Inventory will transfer to BUY as specified in Section 3.6 above, and BUY shall pay to BP all invoiced amounts for such Discontinued Inventory and items as specified in Section 5.2 above.

  • If BUY elects to scrap any Excess Inventory or Discontinued Inventory, BUY must provide to BP, in writing, a BUY Order with a listing of such inventory to be scrapped within [***] of receipt of the monthly Excess Inventory calculation or Discontinued Inventory listing.

  • BP will invoice BUY for Discontinued Inventory in the amount of [***].

  • BUY will instruct BP as to the disposition of Discontinued Inventory.

  • Unless designated in writing by BUY as Discontinued Inventory, those Products or Additional Products ordered by BP in excess of the applicable Forecast shall not be considered Discontinued Inventory.

  • Within [***] of receipt of such Discontinued Inventory listing, BUY will generate a BUY Order to BP for all Products or Additional Products or items reflected in the Discontinued Inventory listing.

  • BUY and BP will review Discontinued Inventory on a monthly basis.

  • BP will invoice BUY for each item of Discontinued Inventory shipped in the amount of the Product Cost plus the Inventory Management Fee, plus any other costs incurred and fees accumulated by BP, including without limitation any fees for any Fulfillment Services performed on such Products and/or Additional Products.

Related to Discontinued Inventory

  • Transferred Inventory has the meaning set forth in Section 1.1(e).

  • Excluded Inventory shall have the meaning set forth in Section 2.4.

  • 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.

  • Eligible Inventory means, with respect to any Borrower, all Trailers (less than ten years old), Aircraft and Aircraft engines complying with Stage III noise reduction requirements, Railcars (less than twenty-five years old), marine containers (less than ten years old), and, if approved by the Requisite Lenders, other related Equipment, in each case that (a) is owned of record by such Borrower or a Marine Subsidiary of such Borrower (or jointly by such Borrower and one or more of the other Borrowers) or, subject to the approval of Agent, any Owner Trustee of which such Borrower is the sole beneficiary or owner (or is the beneficiary or owner jointly with one or more of the other Borrowers), as applicable, (b) is subject to a Lease acceptable to Agent in its sole discretion (as reviewed in full in connection with each requested borrowing hereunder), which Lease shall, at a minimum, (A) be non-cancelable, (B) be with a lessee of acceptable credit quality as determined by Agent, and (C) be of a firm term in excess of one (1) year, except that cargo-containers and Trailers may be on Utilization Leases; (c) has a value and marketability reasonably satisfactory to the Agent; and (d) is free and clear of all Liens, except (i) any interest of a lessee thereof pursuant to a Lease entered into with such Borrower or a Marine Subsidiary of such Borrower or such Borrower’s or such Marine Subsidiary’s predecessor in interest or such Owner Trustee or nominee entity, as lessor, or (ii) as otherwise permitted by Section 6.1, provided that any Liens of the type permitted under clause (ii) encumbering any item of Equipment shall not secure obligations in amounts which materially impair the equity value in such item of Equipment. Requisite Lenders in their sole discretion, on a case by case basis, may approve other items or types of Equipment for credit under "Eligible Inventory" from time to time. Equipment which is Eligible Inventory will cease to be Eligible Inventory at any time it no longer continues to meet all of the above requirements.

  • Eligible Finished Goods Inventory means Inventory that qualifies as Eligible Inventory and consists of first quality finished goods held for sale in the ordinary course of Borrowers’ business.

  • 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).

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

  • 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.

  • Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

  • 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.

  • Finished Goods means completed goods which require no additional processing or manufacturing to be sold to third party customers by the Loan Parties in the ordinary course of business.

  • Inventory Value means with respect to any Inventory of a Loan Party at the time of any determination thereof, the standard cost determined on a first in first out basis and carried on the general ledger or inventory system of such Loan Party stated on a basis consistent with its current and historical accounting practices, in Dollars, determined in accordance with the standard cost method of accounting less, without duplication, (i) any markup on Inventory from an Affiliate and (ii) in the event variances under the standard cost method are expensed, a Reserve reasonably determined by the Agent as appropriate in order to adjust the standard cost of Eligible Inventory to approximate actual cost.

  • Product Backlog means a list of those Stories that do not form part of the current Sprint Plan at that time and which are to form the subject of a future Sprint, either in the current Release at that time or a subsequent Release;

  • Inventory Appraisal means (a) on the Closing Date, the appraisal prepared by Great American Group dated June 2007 and (b) thereafter, the most recent inventory appraisal conducted by an independent appraisal firm pursuant to Section 9.2(b).

  • Unbilled Receivable means, at any time, any Receivable as to which the invoice or xxxx with respect thereto has not yet been sent to the Obligor thereof.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Eligible Unbilled Receivable means, at any time, any Unbilled Receivable if (a) the related Originator has recognized the related revenue on its financial books and records under GAAP, and (b) not more than thirty (30) days have expired since the date such Unbilled Receivable arose.

  • Inventory control system means a system described in Section 4-41a-103.

  • Eligible Equipment means, at any time of determination, Equipment owned by Borrower which Lender, in its sole discretion, deems to be eligible for borrowing purposes.

  • Net Book Value means the net book value of the relevant Supplier Asset(s) calculated in accordance with the depreciation policy of the Supplier set out in the letter in the agreed form from the Supplier to the Costumer of even date with this Call Off Contract;

  • Obsolete means a product that may be listed in national drug pricing compendia but is no longer available to be dispensed based on the expiration date of the last lot manufactured.