Used Inventory definition

Used Inventory means Inventory of the Borrowers that has been (a) previously sold at retail, (b) registered or titled in any state or jurisdiction, or registered as a Documented Vessel, (c) purchased or acquired by the Borrowers from a source other than the manufacturer, or (d) Units of Used Inventory originally acquired by Borrowers as Eligible New Inventory, but held by the Borrowers for more than two (2) years from the date of delivery to the Borrowers (and in the case of Inventory covered by this clause (d), then the Borrowers shall be deemed to have held such Inventory as "Used Inventory" only from such two year date onward).

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Used Inventory means Inventory of the Dealers that has been (a) previously sold at retail, (b) registered, documented or titled in any state or jurisdiction, (c) purchased or acquired by the Dealers from a source other than the manufacturer, or (d) owned by the Dealers for more than two years (and in the case of Inventory covered by this clause (d), then the Dealers shall be deemed to have held owned Inventory as "Used Inventory" only from such two year date onward).

Used Inventory means Inventory consisting of used merchandise held for retail sale in the ordinary course of the business of Borrower. The term "Eligible Used Inventory" shall mean Used Inventory, consisting of audio recordings on compact disk, that would otherwise qualify as Eligible Inventory, bur for the fact that such Inventory is in used condition. Any Used Inventory that is not Eligible Used Inventory shall nevertheless be part of the Collateral.

Examples of Used Inventory in a sentence

Borrower agrees, that until all Advances have been paid in full or this Loan Agreement has been terminated pursuant to Section 3, to pay the actual cost, subject to a mutually agreeable cap, for an annual evaluation of the Eligible Inventory and Eligible New and Used Inventory (collectively referred to as "Inventory" for purposes of this Section).
As a result of each of Consignor’s inspections, examinations and accountings of Consigned Inventory pursuant to Subsection 2(f) of this Consignment Supplier Agreement, Consignor shall determine the amount of Consigned Inventory used by AM (“Used Inventory”), notify AM of the amount of Used Inventory and issue to AM an invoice for payment for the Used Inventory.
Any downward variance amount of three percent (3%) or more (with such percentage to be rounded to the nearest tenth of one percent) shall be applied to the total collateral value for all types of Collateral shown by the current Borrowing Base Certificate and all Borrowing Base Certificiates submitted prior to the time when a new variance is calculated at the next inspection of Eligible New Inventory and Eligible Used Inventory.
The Lender's obligation to forbear or advance funds hereunder is subject to repayment by the Borrowers of Advances made on all Eligible New Inventory and Eligible Used Inventory which have been previously sold but are delinquent as of the date hereof (the "Sold Not Paid Units").
Borrowers shall notify Lender at least one Business Day prior to any proposed Advance for Eligible Used Inventory; such notification may be oral, but must be confirmed by telecopy or in writing by the date of the Advance, and be accompanied by such information as Lender may reasonably request to identify, value and locate the Eligible Used Inventory.

More Definitions of Used Inventory

Used Inventory means Inventory of Company or its Subsidiaries that has been (a) previously sold at retail, (b) registered, documented or titled in any state or jurisdiction, (c) purchased or acquired by Company or its Subsidiaries from a source other than the manufacturer, or (d) held by Company or its Subsidiaries for more than

Used Inventory means Inventory of any Borrower that (a) has been -------------- previously sold at retail, or (b) has been registered, documented or titled in any state or jurisdiction, or (c) has been purchased or acquired by a Borrower from a source other than the manufacturer, and (d) is not more than nine model years old.

Used Inventory is defined herein to mean any item of Inventory that has been: (i) previously sold at retail; and/or (ii) registered or titled in any state.

Used Inventory means Inventory owned by a ▇▇▇▇▇▇ Borrower that has been (a) used for an intended end-user purpose and (b) titled in the name of a Person other than (i) a ▇▇▇▇▇▇ Borrower or (ii) the manufacturer thereof, in each case prior to its acquisition by one of the ▇▇▇▇▇▇ Borrowers.

Used Inventory means all Borrower's Direct Used Inventory and Indirect Used Inventory.

Used Inventory means whole goods Inventory and serialized attachments held for sale, but not for rental or lease, showing more than two hundred fifty (250) hours of usage.