Ineligible Inventory definition

Ineligible Inventory means all Qualified Inventory described in at least one of the following clauses:

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Ineligible Inventory means all Qualified Inventory described in one or more of the following clauses, without duplication:

Ineligible Inventory means, with respect to the U.S. Borrowers or the Canadian Borrower and any Canadian Subsidiary Guarantors, as applicable, at any date of determination, an amount equal to the sum of the following, without duplication:

Examples of Ineligible Inventory in a sentence

Bank reserves the right, upon notice, in its sole discretion, to amend the terms of the Ineligible Inventory at any time.
Ineligible Inventory shall include the following: Inventory not legally owned by Borrower, including but not be limited to, goods on consignment from any supplier, vendor, and/or individual, or goods on demonstration and/or for trial, and not subject to the first lien priority security interest in favor of Bank.
An Eligible Account is an Account which is not an Ineligible Account, as defined in Section DD.03 hereof; and Eligible Inventory is Inventory which is not Ineligible Inventory, as defined in Section DD.04 hereof.
Total Ineligible Inventory (sum of Lines 6(a)-(l)) ...........................................................
Inter-Company Profit in Inventory Ineligible Inventory Unexplained Variance in Reconciliation — Service Parts (perpetual) — Consigned Inventory (perpetual) DSW/NON-Lost Material Warehouses (perpetual) — RTV-Return to Vendor Warehouse (perpetual) — Obsolete, Slow Moving & Surplus Calcs (GL & Actual)-RM — Obsolete, Slow Moving & Surplus Calcs Newstream Replumb Kits — Book Std.

More Definitions of Ineligible Inventory

Ineligible Inventory means, with respect to the U.S. Credit Parties or the Canadian Credit Parties, as applicable, at any date of determination, an amount equal to the sum of the following, without duplication:

Ineligible Inventory. Inventory of Borrowers that is not Eligible Inventory or Eligible In-Transit Inventory.

Ineligible Inventory means Inventory that is not Eligible Inventory.

Ineligible Inventory means that Inventory of Borrower that is not subject to a first and prior Lien in favor of Bank, that Inventory that is subject to any Lien not in favor of Bank and that Inventory of Borrower as shall be deemed from time to time to be in the sole judgment of Bank, ineligible for purposes of determining the Borrowing Base. All other terms not defined herein shall have the respective meanings as in the Agreement. Borrower certifies that the above information and computations are true, correct, complete and not misleading as of the date hereof.

Ineligible Inventory means Inventory:

Ineligible Inventory means inventory which is not included in the Borrowing Base by the Lenders, such as obsolete inventory, and any other inventory which the Lenders determine as ineligible.

Ineligible Inventory slow moving and obsolescent Inventory;