{"component": "definition", "props": {"groups": [{"snippet_links": [{"key": "qualified-inventory", "type": "clause", "offset": [10, 29]}], "snippet": "means all Qualified Inventory described in at least one of the following clauses:", "samples": [{"hash": "3uCMd2ZINNf", "uri": "/contracts/3uCMd2ZINNf#ineligible-inventory", "label": "Credit Agreement (United States Steel Corp)", "score": 33.4188919067, "published": true}, {"hash": "6QlCmK9LFTF", "uri": "/contracts/6QlCmK9LFTF#ineligible-inventory", "label": "Credit Agreement (United States Steel Corp)", "score": 32.5756340027, "published": true}, {"hash": "2c7Zm2IBs8K", "uri": "/contracts/2c7Zm2IBs8K#ineligible-inventory", "label": "Credit Agreement (United States Steel Corp)", "score": 30.8206710815, "published": true}], "size": 14, "hash": "e63966189f90519c811633275d429bbb", "id": 1}, {"snippet_links": [{"key": "qualified-inventory", "type": "clause", "offset": [10, 29]}, {"key": "without-duplication", "type": "clause", "offset": [81, 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"label": "Loan and Security Agreement (Energy Focus, Inc/De)", "score": 31.6146469116, "published": true}, {"hash": "6qw9tGNwCY5", "uri": "/contracts/6qw9tGNwCY5#ineligible-inventory", "label": "Loan and Security Agreement (LIVE VENTURES Inc)", "score": 30.2101306915, "published": true}], "size": 4, "hash": "907a9c75717792db0ab0db450d154906", "id": 5}, {"snippet_links": [{"key": "eligible-inventory", "type": "clause", "offset": [28, 46]}], "snippet": "means Inventory that is not Eligible Inventory.", "samples": [{"hash": "6Ni1aBrnItF", "uri": "/contracts/6Ni1aBrnItF#ineligible-inventory", "label": "Revolving Credit and Security Agreement (Redenvelope Inc)", "score": 18.0, "published": true}, {"hash": "22rch3Qcphc", "uri": "/contracts/22rch3Qcphc#ineligible-inventory", "label": "Revolving Credit and Security Agreement (Redenvelope Inc)", "score": 18.0, "published": true}], "size": 3, "hash": "63988a2f21c494e670907ddf96e58f9a", "id": 6}, {"snippet_links": [{"key": "subject-to", "type": "definition", "offset": [45, 55]}, {"key": "prior-lien", "type": "definition", "offset": [68, 78]}, {"key": "in-favor-of", "type": "definition", "offset": [79, 90]}, {"key": "from-time-to-time", "type": "clause", "offset": [211, 228]}, {"key": "for-purposes-of", "type": "clause", "offset": [276, 291]}, {"key": "borrowing-base", "type": "clause", "offset": [308, 322]}, {"key": "terms-not-defined-herein", "type": "clause", "offset": [334, 358]}, {"key": "in-the-agreement", "type": "clause", "offset": [397, 413]}, {"key": "not-misleading", "type": "clause", "offset": [510, 524]}, {"key": "date-hereof", "type": "clause", "offset": [535, 546]}], "snippet": "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.", "samples": [{"hash": "lmI10WgWk8D", "uri": "/contracts/lmI10WgWk8D#ineligible-inventory", "label": "Credit Agreement (Xetel Corp)", "score": 18.0, "published": true}, {"hash": "e39jDRhHtcR", "uri": "/contracts/e39jDRhHtcR#ineligible-inventory", "label": "Credit Agreement (Xetel Corp)", "score": 18.0, "published": true}], "size": 2, "hash": "7650051b0fb3d387108cfed84bb88fde", "id": 7}, {"snippet_links": [], "snippet": "means Inventory:", "samples": [{"hash": "dF3Si1H2GE8", "uri": "/contracts/dF3Si1H2GE8#ineligible-inventory", "label": "Abl Credit Agreement (Clarios International Inc.)", "score": 34.4921302795, "published": true}, {"hash": "kYZutKd4ZXP", "uri": "/contracts/kYZutKd4ZXP#ineligible-inventory", "label": "Abl Credit Agreement (Clarios International Inc.)", "score": 32.5318260193, "published": true}], "size": 2, "hash": "6a97ec63bcbdff7e9f51bc90faae7205", "id": 8}, {"snippet_links": [{"key": "not-included", "type": "clause", "offset": [25, 37]}, {"key": "borrowing-base", "type": "clause", "offset": [45, 59]}, {"key": "by-the-lenders", "type": "clause", "offset": [60, 74]}, {"key": "obsolete-inventory", "type": "definition", "offset": [84, 102]}, {"key": "other-inventory", "type": "clause", "offset": [112, 127]}], "snippet": "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.", "samples": [{"hash": "7IDVxLtrSMD", "uri": "/contracts/7IDVxLtrSMD#ineligible-inventory", "label": "Loan Agreement (Multimedia Access Corp)", "score": 18.0, "published": true}], "size": 1, "hash": "cf14e757cb3a15096c76ee7ee0baa115", "id": 9}, {"snippet_links": [{"key": "slow-moving", "type": "definition", "offset": [0, 11]}], "snippet": "slow moving and obsolescent Inventory;", "samples": [{"hash": "6zEJcwaZzcp", "uri": "https://www.sec.gov/Archives/edgar/data/1018099/000119312506020492/dex45b.htm", "label": "Millennium Chemicals Inc", "score": 6.0, "published": false}], "size": 1, "hash": "b4d2d39f1a9644010ddfc6bc41d6da8d", "id": 10}], "next_curs": "CmESW2oVc35sYXdpbnNpZGVyY29udHJhY3Rzcj0LEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIdaW5lbGlnaWJsZS1pbnZlbnRvcnkjMDAwMDAwMGEMogECZW4YACAA", "definition": {"snippet": "means all Qualified Inventory described in at least one of the following clauses:", "title": "Ineligible Inventory", "size": 64, "id": "ineligible-inventory", "examples": ["Bank reserves the right, upon notice, in its sole discretion, to amend the terms of the <strong>Ineligible Inventory</strong> at any time.", "<strong>Ineligible Inventory</strong> 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 <strong>Ineligible Inventory</strong>, as defined in Section DD.04 hereof.", "Total <strong>Ineligible Inventory</strong> (sum of Lines 6(a)-(l)) ...........................................................", "Inter-Company Profit in Inventory <strong>Ineligible Inventory</strong> Unexplained Variance in Reconciliation \u2014 Service Parts (perpetual) \u2014 Consigned Inventory (perpetual) DSW/NON-Lost Material Warehouses (perpetual) \u2014 RTV-Return to Vendor Warehouse (perpetual) \u2014 Obsolete, Slow Moving &amp; Surplus Calcs (GL &amp; Actual)-RM \u2014 Obsolete, Slow Moving &amp; Surplus Calcs Newstream Replumb Kits \u2014 Book Std.", "Except as otherwise provided herein and in the other Transaction Documents, sell, assign (by operation of law or otherwise) or otherwise dispose of, or create or suffer to exist any Lien upon or with respect to, any Inventory, or assign any right to receive proceeds in respect thereof EXCEPT for Permitted Liens, Receivables Facility Liens and Liens on <strong>Ineligible Inventory</strong> that are reasonably expected not to result in a Material Adverse Collateral Effect.", "An Eligible Account is an Eligible Investment Grade Account or an Eligible non-Investment Grade Account, as applicable, and Eligible Accounts are, collectively, Eligible Investment Grade Accounts and Eligible non-Investment Grade Accounts; and Eligible Inventory is Inventory which is not <strong>Ineligible Inventory</strong>, as defined in Section DD.04 hereof.", "<strong>Ineligible Inventory</strong> shall include the following: (a) Inventory not legally owned by Borrowers, 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.", "Total <strong>Ineligible Inventory</strong> as of the end of the Current Period (Lines 15 + 16 + 17 + 18 + 19 + 20 + 21 + 22) $__________ 24.", "<strong>Ineligible Inventory</strong> is to be determined once per month based on the most recent monthly Inventory listing or at such other times as Crestmark reasonably deems necessary."], "related": [["eligible-inventory", "Eligible Inventory", "Eligible Inventory"], ["ineligible-receivables", "Ineligible Receivables", "Ineligible Receivables"], ["ineligible-account", "Ineligible Account", "Ineligible Account"], ["eligible-in-transit-inventory", "Eligible In-Transit Inventory", "Eligible In-Transit Inventory"], ["excluded-inventory", "Excluded Inventory", "Excluded Inventory"]], "related_snippets": [], "updated": "2026-02-25T05:25:33+00:00"}, "json": true, "cursor": ""}}