Third Party Inventory definition

Third Party Inventory means the physical inventory of fungible, marketable petroleum products that are held by the Seller for the account of third parties.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Third Party Inventory means the spare inventory of Third Party equipment for Gap stores to be sent to the store upon receipt of the corresponding Depot Replacement Order.

Third Party Inventory means certain raw materials, work-in-progress, parts, finished goods, supplies, returned materials, packaging materials and other inventories owned by third parties and used or held for use by such third parties exclusively for the benefit of Seller and related to Seller’s sale and support of the Products and New Products.

Examples of Third Party Inventory in a sentence

• Each Loan Party will not store its Inventory, other than Third Party Inventory, at any time with a bailee, warehouseman, or similar party that is not subject to a Collateral Access Agreement.

• Within thirty (30) days following the Closing Date, the Buyer will contact each third party reflected in the Third Party Inventory Report in order to confirm the amount of Third Party Inventory held for the account of each such third party as of the Closing Date.

• Prior to the Closing, Carbo will confirm Third Party Inventory amounts as of a date no more than thirty (30) days prior to the Closing Date, and obtain agreement from each third party as to their respective Third Party Inventory amounts as of such date.

• Prior to the Closing, the Seller will confirm Third Party Inventory amounts as of a date no more than fifteen (15) days prior to the Closing Date, and obtain agreement from each third party as to their respective Third Party Inventory amounts as of such date.

• At the Closing, Sellers shall furnish Buyers with a schedule detailing all Third Party Inventory in the possession or control of Sellers and any refined products that have been tendered for shipment in the Pipelines but not yet delivered.

More Definitions of Third Party Inventory

Third Party Inventory has the meaning given to it in Section 3.3(a) (Commingling).

Third Party Inventory means the physical inventory of fungible, marketable petroleum products that are held by the Seller for the account of third parties. “Third Party Inventory Report” shall mean a report, as of the date immediately prior to the Closing Date and certified by Sellers in the Seller Closing Certificate, of the Third Party Inventory, showing the amounts of such inventory held for the account of each individual third party, based on the Sellers’ computer database, as reconciled to a physical inventory, which physical inventory of such petroleum products shall be determined in the manner specified in Schedule I attached hereto. “Throughput Summaries” shall mean the summaries of the throughput of the Terminals, in barrels, for each of the fiscal years ended December 31, 2014, 2015 and 2016. “Tradename” means “Carbo”. “Transaction Documents” means this Agreement, the ▇▇▇▇ of Sale, the Assignment and Assumption Agreement, the Intellectual Property Assignments, the Deeds, the Unit Purchase Agreement, the Guaranty, the ▇▇▇▇▇▇▇ Boulevard Remediation Agreement and the other agreements, instruments and documents required to be delivered at the Closing. “Unit Purchase Agreement” means a Unit Purchase Agreement, of even date herewith, between Parent and Carbo. “Units” means a number of the Parent’s common units representing limited partnership interests equal to the Unit Value, plus the Bonus Units, in each case to be issued pursuant to the Unit Purchase Agreement. “Unit Value” means Thirty Million Dollars ($30,000,000). “Union” has the meaning set forth in Section 4.19(b). “Union Contract” means the collective bargaining agreement, dated as of January 1, 2016, between Carbo and the AFL-CIO Local 355. ARTICLE II PURCHASE AND SALE Section 2.01

Third Party Inventory means any Applicable Credit Parties' (i) trial, loaner, demonstration and in-transit inventory not classified as "PP&E" on the books of the applicable Applicable Credit Party as of the end of the fiscal quarter ended most recently prior to the date that the Borrowing Base is being determined, and (ii) inventory that is in possession of customers, field service engineers, salespeople and suppliers.

Third Party Inventory shall have the meaning set forth in the definition "Eligible Inventory".

Third Party Inventory means, with respect to any Group Member, any Inventory of such Group Member that is located, stored, used or otherwise held at the premises of third party customers or service providers.

Third Party Inventory means the inventory of products, ownership of and title to which remains in third parties, maintained on the premises of the Assets, such Third Party Inventory being described in Schedule 2.1.4(g).

Third Party Inventory has the meaning given to it in Section 3.3(a) (Commingling). Transaction Documents has the meaning given to it in the Framework Agreement.