Off-Site Inventory definition

Off-Site Inventory means, at any time, (i) logs or wood chips exclusively available to the Borrowers (subject to the payment of applicable fees due to a Governmental Authority in connection with harvesting of such logs), unless the Agent, in the exercise of its Permitted Discretion, deems such logs or wood chips not to be Off-Site Inventory, and (ii) which would be Eligible Inventory if the same were in the possession of a Borrower or at one of its locations (not giving effect to clause (d) of the definition thereof). Without limiting the foregoing, no logs or wood chips, as applicable, shall be Off-Site Inventory unless (x) such logs are harvested from land in an area available to a Borrower (directly or from a third party), and which harvesting occurs under a license, permit or similar authorization issued by a Governmental Authority, (y) such logs or wood chips are held on public yards prior to their delivery to a location of a Borrower, and (z) such logs or wood chips have been transported from such land to a road or other satellite location which allows such trees or wood chips to be transported to a mill or other processing facility.
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Off-Site Inventory means any Purchased Inventory located on Leased Premises, held by a Third-Party Warehouseman, on the premises of an Outside Processor or for any other reason held at any location not owned by the Servicer, the applicable Member or Purchaser.
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Off-Site Inventory shall have the meaning specified in Section 2.1.
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Examples of Off-Site Inventory in a sentence

  • Such notice also shall identify any Unusable or Undelivered Refurbished Parts on the Off-Site Inventory List.

  • The Company has good and valid title to each item of Inventory listed on Schedule 4.10(a)(other than consumables that have been consumed at the Facility), and will have good and valid title, as of the Closing or as of the delivery to the Facility, as applicable, to each item of Inventory included in the On-Site Inventory List and the Off-Site Inventory List, free and clear of all Encumbrances, except Permitted Encumbrances.

  • Within five (5) Business Days after the date the last item set forth on the Off-Site Inventory List shall have been delivered to the Facility (or, if earlier, the forty-fifth (45th) day after the Closing Date), Purchasers shall deliver written notice to Seller GP specifying the total value of the items on the Off-Site Inventory List delivered to the Facility after Closing (excluding the value of any Unusable or Undelivered Refurbished Parts).

  • Subject to Section 3.3(b)(iv), the written notice delivered by Purchasers to Seller GP pursuant to the second sentence of this Section 3.3(b)(iii) shall also specify an amount (whether positive or negative) equal to the sum of the Audited On-Site Inventory Value plus the Audited Off-Site Inventory Value (such sum, the “Audited Closing Inventory Value”) minus the value of the Estimated Closing Inventory (such difference, the “Inventory Value Differential”).

  • Seller shall continue to store all Off-Site Inventory from and after the Closing through the expiration or termination of the Transition Services Agreement.

  • The Manager may appoint, employ or otherwise contract with such other persons or entities for the transaction of the business of the Company or the performance of services for or on behalf of the Company as the Manager shall determine in the Manager’s sole discretion.

  • During the term of the Transition Services Agreement, all orders for Products by Purchaser under the Transition Services Agreement will be first satisfied from the Off-Site Inventory in preference to manufacturing any new Products, and no fees will be payable under the Transition Services to the extent orders are satisfied from any finished goods which comprise the Off-Site Inventory.

  • Off-Site Inventory Reports................................................................................94 8.03.

  • All remaining Off-Site Inventory upon expiration or termination of the Transition Services Agreement will be shipped to Purchaser (as directed by Purchaser) f.o.

  • The total value of such Inventory will be calculated based upon the prices reflected on the September 30 Inventory Schedule, the On-Site Inventory List and the Off-Site Inventory List, as applicable, such prices to be adjusted to reflect any difference for any such items of Inventory as of the Closing in the remaining life cycles determined in accordance with GAAP utilizing General Electric’s latest issued version of GER3620 as of the Closing.


More Definitions of Off-Site Inventory

Off-Site Inventory means Inventory purchased by a Loan Party on a bill and hold basis or sold by a Lo▇▇ ▇arty on a consignment basis in an aggregate amount not to exceed $1,000,000.
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Related to Off-Site Inventory

  • Obsolete Inventory means items that have expired, are redundant or damaged;

  • Excess Inventory means all Inventory and Special Inventory possessed or owned by Flextronics that is not required for consumption to satisfy the next [***] of demand for Products under the then-current purchase order(s) and forecast.

  • Consigned Inventory means Inventory of any Borrower that is in the possession of another Person on a consignment, sale or return, or other basis that does not constitute a final sale and acceptance of such Inventory.

  • Product Inventory means all inventory owned as of the Closing by Seller or any Affiliate thereof of finished Product that is in conformance with the Specifications and has an expiration date of October 1, 2016 or later, regardless of whether such inventory is held at a location or facility of Seller or any Affiliate (or of any other Person on behalf of Seller or any Affiliate, including in any of Seller’s warehouses, manufacturers, suppliers, distributors or consignees) or in transit to or from Seller or any Affiliate (or any such other Person).

  • Inventory control system means a system described in Section 4-41a-103.