Eligible Inventory Locations definition

Eligible Inventory Locations means, collectively, in respect of the Borrowing Group, the locations in the United States and Puerto Rico and, in respect of West Marine Canada, the locations in Canada, in each case, identified on Schedule 5.4 attached hereto, as updated from time to time by Administrative Borrower pursuant to Section 5.4, and any Eligible Boat Show Location.
Sample 1Sample 2
Eligible Inventory Locations means (a) the fulfillment centers or warehouses owned or leased by Revolving Loan Borrowers listed on Exhibit C attached hereto and the Gump's Main Store, (b) additional fulfillment centers or warehouses first leased or owned by Revolving Loan Borrowers after the date hereof, not located in the State of California, with respect to the acquisition of which Revolving Loan Borrowers provide thirty (30) days' prior written notice to Lender; provided, however, as to both clauses (a) and (b), Eligible Inventory Locations shall not include the Gump's Main Store or any fulfillment center or warehouse owned or leased by Revolving Loan Borrowers, unless Revolving Loan Borrowers shall have delivered to Lender all instruments and documents required by Lender to perfect or maintain perfection of Lender's first priority security interest in and liens upon such Inventory, subject to no other liens or claims, except those, if any, expressly permitted hereunder, together with, and without limiting the foregoing, a Collateral Access Agreement, in form and substance satisfactory to Lender, from each owner, operator and mortgagee of such location, and (c) warehouse, ports of entry or other premises of a Customs Broker or Freight Forwarder located in the United States of America to which Eligible Inventory is in transit from a location outside the United States of America; provided, that, as to clause (c), Lender shall have received a Notification and Acknowledgment Agreement, duly authorized, executed and delivered by such Customs Broker and Freight Forwarder handling the shipping and delivery of such Inventory."
Sample 1Sample 2
Eligible Inventory Locations the five Borrowing Base Eligible Facilities of the Loan Parties that contain the greatest value of Eligible Inventory of the Loan Parties, which facilities shall be updated no more than once in any fiscal year at the Permitted Discretion of the Administrative Agent. On the Second Amendment Effective Date, it is agreed that each of the Borrower’s warehouses located in Syracuse, New York, Xxxxxxxx Springs, Connecticut, Salem, New Hampshire, Stafford, Connecticut and Littleton, Colorado shall constitute Eligible Inventory Locations.
Sample 1

Examples of Eligible Inventory Locations in a sentence

  • Where a Dealer Member has reasonable grounds for concluding that the institutional customerInstitutional Customer is capable of making an independent investment decision and independently evaluating the investment risk, then a Dealer Member’s suitability obligation is fulfilled for that transaction.

  • Non-Owned Eligible Inventory Locations International Locations Address Type Barana Seafood Processors Limited Factory National Fisheries Compound, 10B Production Avenue, Sea Lots, P.O. Box 1334, Wrightson Road, Post Office, Port of Spain, Trinidad Pacific Fishing Company Ltd.

  • As such, if the appendix of the first source did not have a per-unit impact value, the per-unit impact value was obtained from the second source.SoCalGas bill savings estimates include the electric savings accrued by SCE that are attributable to the weatherization measures installed under the SoCalGas LIEE program.

  • Schedule 4.14(b) – Lease Defaults Part A None Part B None Schedule 4.14(c) – Eligible Inventory Locations 0000 X Xxxxxx Xxxxxx, Xxxxxx, XX 00000 X0000 Xxxxxx Xxxxx, Xxxxxxxxxx, XX 00000 0000 Xxxx Xxxx Xxxxx, Xxxxx Xxx, XX 00000 000 Xxxxxxx Xxxxxxx, Xxxxxxxxx, XX 00000 00 Xxxxxxxxx Xxxxxxxxx, Xxxxxx, XX 00000 0000 Xxxxx Xxxxx Xxxxxx, Xxxxxx, XX 00000 0000 Xxxxxxxx Xxxxx, Xxxxxxxxx, XX 00000 0000 Xxxxxx Xxx, San Fernando, CA 0000 X.

  • Xxxxxxx Xxxxx, Xxxxx Xxxxxxx, XX 00000 Schedule 1.01B – Eligible Inventory Locations Owned Real Property Entity of Record Common Name and Address Owned, Leased or Other Interest Landlord/ Owner if Leased or Other Interest Description of Lease or Other Documents Evidencing Interests Purpose / Use Option to Purchase / Right of First Refusal B C Systems, Inc.

  • Bank shall have received ---------------------------- such Collateral Access Agreements from lessors, warehousemen, bailees, and other third persons as Bank may require with respect to all Eligible Inventory Locations, including Eligible Inventory Locations maintained by Discount RX and Valley South.

  • Owned Eligible Inventory Locations All locations listed on Schedule R-1.

  • DE SOS General Electric Capital Corporation UCC-1 6/6/2005 51780205 Schedule 5.4 Eligible Inventory Locations Owned Or Leased West Marine Products, Inc.

  • While precise data on the number of children employed in violation of youth employment standards in the United States are not available, results for fiscal year 2005 suggest a reduction in both the average number of minors found employed in violation of the FLSA child labor provisions and the severity of child labor violations.

  • By: Xxxxxxx Xxxxxxx Title: Sr. Vice President Date: 2/13/2003 SCHEDULE A TO FACTORING AGREEMENT - INVENTORY SUPPLEMENT Schedule of Eligible Inventory Locations 0000 X.


More Definitions of Eligible Inventory Locations

Eligible Inventory Locations means collectively the locations designated on Schedule E-1 as eligible inventory locations.
Sample 1
Eligible Inventory Locations means Borrower's headquarters location in Lake Mary, Florida, and Borrower's facilities in Kennett Square, Pennsylvania to the extent that Bank has received an Access Agreement with respect thereto, together with any other location in the United States consented to by Bank in writing, and for which Bank has received an Access Agreement.
Sample 1

Related to Eligible Inventory Locations

  • Eligible Inventory means and include Inventory of a Borrower, excluding work in process, valued at the lower of cost or market value, determined on a first-in-first-out basis, which is not, in Administrative Agent’s Permitted Discretion, obsolete, slow moving or unmerchantable and which Administrative Agent, in its Permitted Discretion, shall not deem ineligible Inventory, based on such considerations as Administrative Agent may from time to time deem appropriate including whether the Inventory is subject to a perfected, first priority security interest in favor of Administrative Agent and no other Lien (other than a Permitted Encumbrance). In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is Foreign In-Transit Inventory or in-transit within the United States; (c) is located outside the continental United States; (d) constitutes Consigned Inventory; (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 Administrative Agent’s right to sell or otherwise dispose of such Inventory, unless Administrative Agent is a party to a Licensor/Administrative Agent Agreement with the Licensor under such License Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its sole discretion); (g) is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Administrative Agent a Lien Waiver Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its Permitted Discretion); or (h) or if the sale of such Inventory would result in an ineligible Receivable.

  • Eligible In-Transit Inventory means, as of any date of determination thereof, without duplication of other Eligible Inventory, In-Transit Inventory:

  • Inventory Formula Amount means, with respect to any item of Eligible Inventory and at any time of determination, the lesser of (a) 65% of the lower of cost and market of such Inventory and (b) 85% of the Net Orderly Liquidation Value of such Inventory.

  • Eligible Finished Goods Inventory means Eligible Inventory consisting of finished goods available for sale (as determined in a manner acceptable to the Administrative Agent in its Permitted Discretion and consistent with past practices).

  • 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.

  • In-Transit Inventory means Inventory of a Borrower which is in the possession of a common carrier and is in transit from a Foreign Vendor of a Borrower from a location outside of the continental United States to a location of a Borrower that is within the continental United States.

  • 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).

  • Conduit Inventory Loan shall have the meaning assigned to such term in Section 14(d).

  • Excluded Inventory shall have the meaning set forth in Section 2.1(c).

  • Eligible Accounts Receivable means only such accounts receivable of the Borrower as the Bank, in its sole discretion, shall deem eligible. Without limiting the discretion of the Bank to consider any account receivable not to be an Eligible Account Receivable, and by way of example only of the types of accounts receivable that the Bank will consider not to be Eligible Accounts Receivable, notwithstanding any earlier classification of eligibility, the following accounts receivable shall not be considered Eligible Accounts Receivable: (i) any account receivable which is not paid in full within 90 days after it is created; (ii) any account receivable as to which any warranty is breached; (iii) any account receivable as to which the account debtor or other obligor disputes liability or makes any claim; (iv) any account receivable owed by any officer, director or shareholder of the Borrower or any of their relatives or any partnership, corporation, association, joint venture or other business entity wholly or partly owned or controlled directly or indirectly by the Borrower or any of them or any of their relatives; (v) any account receivable owed by any person as to whom a petition in bankruptcy or other application for relief is filed under any bankruptcy, reorganization, receivership, moratorium, insolvency or s law; (vi) any account receivable owed by any person who makes an assignment for the benefit of creditors, becomes insolvent, fails, suspends business, or goes out of business; (vii) any account receivable owed by the United States government or any agency of the United States government; (viii) any account receivable owed by any person if 10% or more in amount of the accounts receivable owed by such person to the Borrower are considered ineligible; (ix) consignment receivables; (x) bonded receivables; (xi) any account receivable constituting a retainage; (xii) any account receivable for goods which have not been shipped or work which has not been fully performed; (xiii) any account receivable owed by any person outside the United States of America, except account debtors approved in writing by the Bank (approved foreign account debtors are described on Exhibit B) ; (xiv) any account receivable owed by any person with whose creditworthiness the Bank becomes dissatisfied; and (xv) any account receivable in which the Bank does not have a perfected security interest constituting a first hen. In the event the Borrower owes any amount to any person that owes an account receivable to the Borrower, such amount owed by the Borrower shall be deducted from that portion of the account receivable which would otherwise qualify as an Eligible Account Receivable and only the difference thereof shall be considered an Eligible Account Receivable. No account receivable which does not qualify as an Eligible Account Receivable shall be considered an Eligible Account Receivable unless the Bank, upon the written request of the Borrower, states in writing that such account receivable is to be considered an Eligible Account Receivable.

  • 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.

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

  • Excluded Deposit Accounts means (i) any payroll account, (ii) any withholding tax, benefits, escrow, trust, customs or any other fiduciary account and (iii) any zero balance deposit account.

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

  • 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.

  • Transferred Inventory shall have the meaning set forth in Section 1.1(c).

  • Approved Location means (a) a storage terminal or facility located in the United States or Canada owned by the Borrower or a Subsidiary; or (b) other storage location located in the United States or Canada identified by the Borrower by notice to the Administrative Agent for which, if requested by the Administrative Agent, the Borrower has used commercially reasonable efforts to cause the owner, operator or landlord thereof to execute and deliver, a waiver of lien, subordination agreement or similar agreement in form and substance reasonably acceptable to the Administrative Agent with respect to any inventories of Petroleum Products stored at such terminal or facility.

  • 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).

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

  • Borrowing Base Amount means, as of any date, an amount equal to the sum of:

  • Qualified machinery and equipment means all new industrial

  • Eligible Equipment means Equipment of the Company or a Grantor which the Administrative Agent, in the exercise of its reasonable commercial discretion, determines to be Eligible Equipment. Without limiting the discretion of the Administrative Agent to establish other criteria of ineligibility, Eligible Equipment shall not (unless otherwise agreed to by the Administrative Agent) include any Equipment:

  • Eligible Accounts means Accounts which arise in the ordinary course of Borrower’s business that meet all Borrower’s representations and warranties in Section 5.3. Bank reserves the right at any time after the Effective Date to adjust any of the criteria set forth below and to establish new criteria in its good faith business judgment. Unless Bank otherwise agrees in writing, Eligible Accounts shall not include:

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Committed Equipment Line means a credit extension of up to Three Million Dollars ($3,000,000.00).

  • Inventory Tracking System means the required tracking