In-Transit Inventory definition

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.

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

In-Transit Inventory means Inventory of a Loan Party which is in the possession of a common carrier and is in transit from a foreign vendor of a Loan Party from a location outside of the continental United States to a location of a Loan Party that is within the continental United States.

Examples of In-Transit Inventory in a sentence

• As of each date reported by any Borrower, all Inventory which such Borrower has then reported to Agent as then being Eligible Inventory or Eligible In-Transit Inventory comply in all respects with the criteria for eligibility set forth in the definition of “Eligible Inventory” or “Eligible In-Transit Inventory”, as applicable.

• Agent alone shall be authorized to determine whether any Accounts or Inventory constitute Eligible Accounts, Eligible In-Transit Inventory or Eligible Inventory, or whether to impose or release any reserve, or whether any conditions to funding or to issuance of a Letter of Credit have been satisfied, which determinations and judgments, if exercised in good faith, shall exonerate Agent from liability to any Lender or other Person for any error in judgment.

• For the avoidance of doubt, Non-Ventev In-Transit Inventory shall not be included in the Estimated Inventory Value but shall be included as Purchased Assets and Inventory herein from and after receipt thereof by Buyer.

• If such Non-Ventev In-Transit Inventory is received after the final reconciliation of the Closing Statement, Buyer shall pay the purchase price thereof within sixty (60) days of its receipt of such Inventory.

• Buyer shall notify Sellers promptly following Buyer becoming aware of any discrepancy between any Non-Ventev In-Transit Inventory actually received by Buyer and the applicable purchase order or contract requirements with respect to such Non-Ventev In-Transit Inventory.

More Definitions of In-Transit Inventory

In-Transit Inventory means Inventory located outside of the United States or in transit within or outside of the United States to the Borrower or any Subsidiary Guarantor from vendors and suppliers that has not yet been received into a distribution center or store of such Person.

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

In-Transit Inventory means Inventory of a Borrower Party that is currently in transit (whether by vessel, air or land) from (i) a location outside the United States or Canada to a location in the United States or Canada (other than the Province of Quebec) or (ii) a location in the United States or Canada to another location in the United States or Canada (other than the Province of Quebec).

In-Transit Inventory means Inventory of a Loan Party which is in the possession of a common carrier and is in transit from a foreign vendor of a Loan Party to a location of a Loan Party in the United States or, if the Loan Parties have taken steps to create and perfect a first priority Lien in such Inventory under the Requirements of Law of Canada (and its provinces) and taken such other actions as may be reasonably requested by ABL Agent in connection therewith (including the receipt of customary legal opinions), Canada.

In-Transit Inventory means Inventory of the Borrower which is in the possession of a common carrier and is in transit from a location outside of the United States to a location of the Borrower that is within the United States or Canada in which the Borrower has a store location or a distribution center.

In-Transit Inventory means Inventory of a Borrowing Base Party that is in the possession of a common carrier and is in-transit from a foreign location to a location of such Borrowing Base Party (or a location designated by such Borrowing Base Party) that is either in the United States or Canada;

In-Transit Inventory means Inventory of a Borrower that is in transit.