Work in Process Inventory definition

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.

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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.

Examples of Work in Process Inventory in a sentence

• As to each item of Inventory that is identified by Borrowers as Eligible Finished Goods Inventory, Eligible Work in Process Inventory, or Eligible Raw Materials Inventory in a Borrowing Base Certificate submitted to Agent, such Inventory is (a) of good and merchantable quality, free from known defects, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary criteria) set forth in the definition of “Eligible Inventory”.

• Work in Process Inventory does not include Plasma collected by HQ and CBS held in Canada awaiting pick up by Supplier unless delay in processing is due to Supplier’s failure to pick up Plasma.

• Work in Process Inventory does not include Plasma collected by CBS and HQ held in Canada awaiting pick up by Supplier unless delay in processing is due to Supplier’s failure to pick up Plasma.

• As to each item of Inventory that is identified by Borrowers as Eligible Finished Goods Inventory, Eligible Work in Process Inventory, or Eligible Raw Materials Inventory in a Borrowing Base Certificate submitted to Agent, such Inventory is (a) of good and merchantable quality, free from known defects, and (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary criteria) set forth in the definition of Eligible Inventory.

• Furnish to Bank no later than thirty (30) days after the end of each month, (i) a Borrowing Base Certificate (including the breakdown of Work in Process Inventory backed by purchase orders, Eligible Accounts distinguished from Accounts supporting the Ex-Im Loan Facility), (ii) an EEU Production Report, and (iii) a backlog report executed by the chief executive or chief financial officer of Borrower.

More Definitions of Work in Process Inventory

Work in Process Inventory means gold ounces that are no longer on the heap ▇▇▇▇▇ pads at the Mine but have not yet become Finished Product Inventory; and

Work in Process Inventory means Eligible Inventory that is neither raw materials nor first-quality finished goods.

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 all items of Seller's good and saleable in the ordinary course of business, (as such terms are defined by GAAP) work in process relating to the Business, including raw material inventory, detail inventory and parts in production.

Work in Process Inventory means Inventory of the Borrowers that consists of goods that are work-in-process.

Work in Process Inventory means i) products the manufacture of which has not been completed and the raw material of which has been issued out of stock and are in the manufacturing process on the Closing Date and ii) all of the products in and for a "Backlog Job" (as hereinafter defined) the manufacture of which has been completed and which products [A] have not been shipped to the respective customers as of the Closing Date, and [B] are listed on Schedule 2.2a) attached hereto and made a part hereof ("Backlog Finished Goods Inventory"),

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.