Eligible Inventory NOLV definition
Eligible Inventory NOLV means the net orderly liquidation value, expressed as a percentage, of Eligible Inventories costs (including raw materials, work in process and finished goods as each is determined in accordance with GAAP), as set forth in the annual inventory appraisal provided for in Section 6.16 of this Agreement.
Examples of Eligible Inventory NOLV in a sentence
Permit Lender to engage, at Borrower’s expense, an appraiser selected annually by the Lender in its sole discretion, to conduct an annual inventory appraisal of the Credit Parties’ Inventory, the results of which will determine the Eligible Inventory NOLV.