Residual Inventory Value definition

Residual Inventory Value means the value, as of the Petition Date, of the Debtors' Inventory in which the Holders of Allowed Class 5 Claims have asserted an interest, which value is in excess of the aggregate dollar amount of Allowed Class 2 and Allowed Class 3(B) Claims.
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Residual Inventory Value means and be calculated as follows: gross Inventory (at cost) less Inventory (at cost) financed by Lender pursuant to the Loan Agreement less Indebtedness owed by Borrower to I▇▇▇▇▇ Micro Inc. Failure to maintain the minimum Residual Inventory Value shall be an Event of Default under the Loan Agreement, and shall entitle Lender to all default remedies under the Loan Agreement, the other Loan Documents, and applicable law.
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Examples of Residual Inventory Value in a sentence

  • Failure to maintain the minimum Residual Inventory Value shall be an Event of Default under the Loan Agreement, and shall entitle Lender to all default remedies under the Loan Agreement, the other Loan Documents, and applicable law.

  • Upon full disbursement of the Additional Loans, Borrower covenants that, at all times, the Additional Loans shall not exceed 70% of the Residual Inventory Value plus cash on hand, tested weekly.

Related to Residual Inventory Value

  • Inventory Value means the cost of property purchased by the trustee and the market value of other property at the time it became subject to the trust, but the trustee may use any value finally determined for the purposes of an estate or other transfer tax;

  • Transferred Inventory has the meaning set forth in Section 2.2(a)(iii).

  • Inventory Formula Amount means (i) the lesser of (x) 75% of the Value of Eligible Inventory and (y) 85% of the NOLV Percentage of the Value of Eligible Inventory plus (ii) the lesser of (x) the lesser of (1) 75% of the Value of Eligible In-Transit Inventory and (2) 85% of the NOLV Percentage of the Value of the Eligible In-Transit Inventory and (y) $10,000,000.

  • 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).

  • Excluded Inventory has the meaning set forth in Section 2.2(b).