Eligible Fixed Assets definition

Eligible Fixed Assets means, as of any date, those tangible fixed assets owned by a Borrower or a Guarantor in which such Borrower or Guarantor has granted to the Agent and Lenders a first-priority perfected security interest pursuant to the Security Agreements, subject to only such Liens as are permitted Section 5.2(f)(i),but not including any such fixed asset (a) that is not usable in the business of a Borrower or Guarantor, (b) that is located outside the United States or Canada or such other jurisdiction approved by the Agent, (c) that is subject to, or any accounts or other proceeds resulting from the sale or other disposition thereof could be subject to, any Lien (except those in favor of the Agent and the Lenders under the Security Agreements, (d) that is not in the possession of the Company, (e) that is held for sale or lease or is the subject of any lease, (f) that is subject to any trademark, trade name or licensing arrangement, or any law, rule or regulation, that could limit or impair the ability of the Agent and the Lenders to promptly exercise all rights of the Agent and the Lenders under the Security Agreements, (g) if such fixed asset is located on premises not owned by the Company and the landlord or other owner of such premises shall not have waived its distraint, lien and similar rights with respect to such fixed asset, and shall not have agreed to permit the Agent to enter such premises after the

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Eligible Fixed Assets means all Eligible Equipment and Eligible Real Estate.

Eligible Fixed Assets or “EFA” shall mean and include land (including development costs such as fencing, construction of internal roads, and other basic infrastructure facilities); permanent buildings; plants, indigenous machinery & equipment, imported equipment, computer equipment, material handling equipment (like forklifts, cranes, etc); tools, dies, moulds, jigs, and fixtures and similar production tools owned and used within the plant or elsewhere within Tamil Nadu; appliances; electrical installations; pollution control, quality control and laboratory equipment; fixtures, tubes, pipes, fittings, and storage tanks, to the extent paid for by the project.

Examples of Eligible Fixed Assets in a sentence

All trade accounts receivable, fixed assets and inventory of the Borrowers and the Guarantors represented or reported by the Company to be, or otherwise included in, Eligible Accounts Receivable, Eligible Fixed Assets and Eligible Inventory, comply in all respects with the requirements therefor set forth in the respective definitions thereof, and the computation of the Borrowing Base set forth in each Borrowing Base Certificate is true and correct.
All trade accounts receivable, fixed assets and inventory of the Borrowers and the Guarantors represented or reported by the Company to be, or otherwise included in, Eligible Accounts Receivable, Eligible Deferred Tooling Reimbursement Payments, Eligible Fixed Assets and Eligible Inventory, comply in all respects with the requirements therefor set forth in the respective definitions thereof, and the computation of the Borrowing Base set forth in each Borrowing Base Certificate is true and correct.
With respect to such locations or warehouse space leased or owned as of the Effective Date and thereafter, if Bank has not received a landlord’s agreement or bailee letter as of the Effective Date (or, if later, as of the date such location is acquired or leased), then the Eligible Fixed Assets at that location shall, in Bank’s Permitted Discretion, be excluded from the Borrowing Base or be subject to such Reserves as may be established by Bank in its Permitted Discretion.
The Term Loan Borrowing Base shall be determined from time to time by the Agent by reference to the appraisals or reappraisals of Eligible Fixed Assets or Real Property Assets delivered to the Lenders and the Agent pursuant to subsection 7.1, respectively and other information obtained by or provided to the Agent.
All trade accounts receivable and inventory and fixed assets of the Company and Manufacturing represented or reported by the Company and Manufacturing to be, or otherwise included in, Eligible Accounts Receivable, Eligible Inventory, Eligible Tooling Inventory and Eligible Fixed Assets comply in all respects with the requirements therefor set forth in the definition thereof, and the computations of the Borrowing Base set forth in each Borrowing Base Certificate is true and correct.

More Definitions of Eligible Fixed Assets

Eligible Fixed Assets means, as of any date, the equipment owned by the Company or Manufacturing in which the Company or Manufacturing has granted to the Agent for the benefit of the Lenders a first-priority security interest pursuant to the Security Agreement, valued, in the case of any equipment owned as of the Effective Date, at the orderly liquidation value as determined by appraisals acceptable to the Required Lenders, and, in the case of any equipment purchased after the Effective Date, at the hard cost of such equipment, but not including any such fixed asset (a) that is not useable in the business of the Company or Manufacturing, (b) that is located outside the United States (which shall not be deemed to include any territories of the United States) or Canada, (c) that is subject to, or any accounts or other proceeds resulting from the sale or other disposition thereof could be subject to, any Lien (except those in favor of the Agent for the benefit of itself and the Lenders under the Security Documents and other Permitted Liens which are junior in priority to those in favor of the Agent), (d) that is not in the possession of the Company or Manufacturing (provided that such assets shall be deemed in possession of the Company or Manufacturing if they are located on premises owned or leased by the Company or Manufacturing), (e) that is held for sale or lease or is subject of any lease, (f) that is subject to any trademark, trade name or licensing arrangement, or any law, rule or regulation, that would limit or impair the ability of the Lenders and the Agent to promptly exercise all rights of the Lenders and the Agent under the Security Documents, (g) if such fixed asset is located on premises not owned by the Company or Manufacturing and, on or before sixty (60) days after the Effective Date, the landlord or other owner of such premises shall not have waived its distraint, lien and similar rights with respect to such fixed asset, and shall not have agreed to permit the Lenders and the Agent to enter such premises after the occurrence of an Event of Default pursuant to a waiver and agreement of such person in favor of and in form and substance acceptable to the Agent (h) with respect to which any insurance proceeds are not payable to the Lenders and the Agent as a lender loss payee or are payable to any loss payee other than the Lenders and the Agent or the Company or Manufacturing or (i) that for any other reason is at any time reasonably deemed by the Agent to be ineligi...

Eligible Fixed Assets means Equipment owned by a Borrower, in each case acceptable to the Administrative Agent in its reasonable discretion to be eligible for inclusion in the calculation of the Borrowing Base, and without limiting the foregoing satisfies each of the following conditions:

Eligible Fixed Assets is the net book value of fixed assets of the Borrower and its Subsidiaries as determined under GAAP and reflected in the Borrower’s consolidated financial statements.

Eligible Fixed Assets means, as determined from time to time, pursuant to an appraisal acceptable to Administrative Agent, Equipment, Fixtures and owned furniture of each Borrower; provided, however, that Eligible Fixed Assets shall not include any such fixed asset as to which any of the following exclusionary criteria applies:

Eligible Fixed Assets means, at any date, the total of:

Eligible Fixed Assets means Equipment owned by a Loan Party, subject to the Security Interest and to no other Lien, that is located within the continental United States and has been included in an appraisal report accepted by the Administrative Agent.

Eligible Fixed Assets means the machinery and equipment (i) owned by the Borrower and its Domestic Subsidiaries which are Guarantors, (ii) located in the United States of America, (iii) in which the Agent shall have a First Priority Lien, (iv) which are properly insured in accordance with the provisions of Section 7.5, and (v) which are listed on that certain schedule of Eligible Fixed Assets attached to the Term Loan Borrowing Base Certificate delivered to the Agent on or prior to the Closing Date.