Definition of Teles Inventory


Teles Inventory means, only during the time that Obligations are owed to Teles under the Inventory Credit Line, inventory of Teles product purchased by NWB pursuant to the Inventory Credit Line; provided, however, that in no event shall Teles Inventory include cash or non-cash proceeds of such inventory, including, without limitation, Accounts, Chattel Paper or Instruments (other than Account, Chattel Paper or Instruments received as proceeds and as described in the last sentence of Section 2.4(c) of this Agreement).
Sample 1

Examples of Teles Inventory in a sentence

Credit purchases from Teles under the Inventory Credit Line are secured by the Teles Inventory, as hereinafter defined.
Without limiting the generality of the foregoing, Teles shall not be required to share with P&S the proceeds of liquidation or disposition of Teles Inventory, in the exercise of Teles' rights and remedies under the UCC and other applicable law.