Work in Process Inventory means "work in process", as that term is customarily used in the tool and die industry. In any event, Work in Process Inventory shall include "Contracts in Process" and shall not include "Inventories", as such asset categories historically have been identified on the Borrower's balance sheet.
Work in Process Inventory means all inventory used in the Business which is to be sold to an identified customer of the Company following the Closing, pursuant to an existing order which is binding on such customer as of the Closing Date. The Inventory Purchase Price shall be paid at the same time and in the same manner as the Initial Purchase Price.
Work in Process Inventory means the work undergoing a manufacturing process (e.g., parts and subassemblies in the process of becoming completed assembly components or finished goods) or the work undergoing a development process (e.g., labor, material and overhead accumulated toward customer milestones and released to finished goods/cost of sales upon milestone completion. Exhibit A Eligible Subsidiaries Starsys, Inc. a Colorado corporation SpaceDev Oklahoma, Inc. an Oklahoma corporation Dream Chaser, Inc., a Delaware corporation Exhibit B Borrowing Base Certificate As of __________ __, 200__ ACCOUNTS RECEIVABLE per __________ Aging 0.00 Ineligible Accounts: Accounts over 90 days from Invoice Date 0.00 Credit Balances Over 90 days from Invoice Date 0.00 Intercompany and Affiliate Accounts 0.00 __% Concentration Cap 0.00 Contra Accounts 0.00 Cash Sales and COD Accounts 0.00 Foreign Receivables 0.00 Government Receivables (without Assignment of Claims) 0.00 Discounts, Credits and Allowances 0.00 Cross-age (__% Past Due) 0.00 Xxxx and Hold Invoices 0.00 Finance/Service/Late Charges 0.00 Other: 0.00 0.00 ELIGIBLE ACCOUNTS RECEIVABLE 0.00 Accounts Receivable Advance Rate 90% ACCOUNTS RECEIVABLE AVAILABILITY 0.00 INVENTORY per __________ Balance Sheet 0.00 Ineligible Inventory: Work-in-Process 0.00 Excess/Slow Moving 0.00 Supplies/Packaging 0.00 Damaged 0.00 Other: 0.00 0.00 ELIGIBLE INVENTORY 0.00 Inventory Advance Rate 50% Inventory Cap [1,000,000.00] INVENTORY AVAILABILITY 0.00 TOTAL AVAILABILITY 0.00 Less Reserves 0.00 NET AVAILABILITY 0.00 REVOLVING CREDIT LINE 0.00 MINIMUM BORROWING NOTE 0.00 NET BORROWING AVAILABILITY (Lesser of Line or Net Availability) 0.00 Less: Laurus Loans 0.00 EXCESS/(DEFICIT) AVAILABILITY 0.00 The undersigned hereby certifies that all of the foregoing information regarding the Eligible Accounts and Eligible Inventory are true and correct on the date hereof and all such Accounts and Inventory listed as Eligible are Eligible within the meaning given such term in the Security Agreement dated __/__/200_ among Borrower, the other companies named therein and Laurus Master Fund, Ltd. _____________, Borrowing Agent By: ___________________________________ Name: Title:
Examples of Work in Process Inventory in a sentence
Process costing accumulates costs by process or department.• Work in Process Inventory accounts.
Process cost systems have a Work in Process Inventory account for each department or process.Exhibit 1 shows the cost flows in a process cost system that processes the products in a specified sequential order.
Job cost systems have one Work in Process Inventory account for each job.
Then, they transfer the costs to a Work in Process Inventory account.• Both job and process cost systems use predetermined overhead rates (defined in Chapter 18) to apply overhead.Job costing and process costing systems also have their significant differences:• Types of products produced.
The manufacturer maintains a stock of Materials Supply Line indicating materials that have been ordered but not yet received, Materials Inventory, from where materials are entering into the production process, Work in Process Inventory with materials being transformed into finished goods, Finished Goods Inventory from where customer orders are filled as they arrive and Goods in Transit indicating goods transported to the customer.
More Definitions of Work in Process Inventory
Work in Process Inventory means gold ounces that are no longer on the heap xxxxx pads at the Mine but have not yet become Finished Product Inventory; and
Work in Process Inventory means
Work in Process Inventory means all of Seller's work-in-process inventory, including sweepings at the Acquired Factories.
Work in Process Inventory has the meaning given to such term in the Revolving Credit Agreement as in effect on the Closing Date.
Work in Process Inventory means the cost of all raw materials which moved to the first production station and beyond (but do not constitute Finished Goods) during the applicable Measurement Period, determined consistently in accordance with an accounting method recognized by GE. Buyer shall provide the following information (which shall be consistent with Buyer’s financial statements, except for the adjustments noted above) with each Milestone Statement:
Work in Process Inventory means all Inventory that has been classified as "work-in-process" Inventory in a manner consistent with the Company's current and historical practices, as reflected in its general ledger; provided that the items included within Work-In-Process Inventory shall be consistent with the methodology used in the most recent Inventory Appraisal; and provided further that, in the event that the Company becomes the owner of a Subject Business, the Inventory of such Subject Business shall not be included in Work-In-Process Inventory until (i) the Company owns such Inventory directly and free and clear of Liens other than Permitted Encumbrances and (ii) a supplemental Inventory Appraisal and Field Examination (which shall not be counted for purposes of the limits on the number of updates to the Inventory Appraisal and Field Examination required under subsection 6.11) shall have been performed with respect to such Inventory, with the scope and procedures associated with such Inventory Appraisal and Field Examination to be consistent with the scope and procedures associated with the initial Inventory Appraisal and Field Examination.
Work in Process Inventory means Eligible Inventory that is neither raw materials nor first-quality finished goods.