Franchise Inventory definition
Franchise Inventory means Inventory (a) originally purchased by the Borrower pursuant to a vendor, supplier or distributor agreement that provides, unless otherwise agreed by the Administrative Agent in its reasonable business judgment, the Borrower with either of the following rights: stock rotation privileges or price protections substantially similar to those found in the Borrower's agreements with its vendors, suppliers and distributors in existence as of the Closing Date or (b) subject to written customer or supplier agreement(s) requiring the customer or supplier (as the case may be) to purchase all such Inventory upon termination of such agreement(s), in a manner reasonably satisfactory to the Administrative Agent.