GOB Value definition
GOB Value means the net liquidation value, expressed as a percentage of cost, of Inventory established by appraisals, field audits and other inventory evaluations conducted by the Agent, its Affiliates or its third-party advisors prior to the Closing Date and each other periodic appraisal, field audit or inventory evaluation conducted by the Agent, its Affiliates or its third-party advisors from time to time after the Closing Date.
GOB Value means, with respect to Inventory, the "going out of business: or "net liquidation" value of such Inventory, expressed as a percentage of such Inventory Cost, as determined by Gordon Brothers Retail Partners, LLC, HilCo/Great American LLC, or ▇▇▇ or more other appraisers acceptable to Senior Lenders, Agent and Borrower.
GOB Value means with respect to either Eligible Inventory or Clearance Inventory the non-auction liquidation value thereof in an orderly "going out of business" sale to the public conducted by a liquidator who is approved by Lender and is regularly engaged in the business of appraising and liquidating inventory similar in type to the Inventory.
Examples of GOB Value in a sentence
Lender will then determine what the advance rates under the Inventory Loan Formulas would be by taking into account the amendment to the Net Orderly Liquidation Value and the Net GOB Value in order to yield the Reduced Amount of Revolving Inventory Loans.