Residual Inventory definition

Residual Inventory means inventory from a transferred or terminated Government or commercial contract.
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Residual Inventory collectively the Inventory located in Spain, Germany and Netherlands, and the Inventory required for the final finishing operations at P38 in France. 1.01.33 "Italian Business" : all Assets and Liabilities of the Businesses operated by the Italian Vendors at the facility in Ferrania (Italy) owned and operated by Imation S.p.A.
Sample 1

Examples of Residual Inventory in a sentence

  • SCHEDULE 2.1-B identifies the Assets consisting of Residual Inventory, including the Book Value of such items as of the date of this Agreement.

  • All items of Residual Inventory rejected by Buyer because of Buyer's reasonable determination that they are either (i) not related to the Business, (ii) obsolete or (iii) inappropriately valued.

  • Celestica and Madgx xxxertake that they will work together to define and agree, before January 21, 2000, the actual level of Excess and Residual Inventory, and therefore the amount due from Madgx xx Celestica as per the Manufacturing and Supply Agreement.

  • An amount equal to the lesser of (i) 50% of the Book Value as of the Closing Date of the Residual Inventory (but excluding Rejected Inventory), or (ii) $350,000.

  • The Work in Process Components, the New Inventory, the Ordered Inventory and the Residual Inventory, but excluding Rejected Inventory.

  • Upon full disbursement of the Additional Loans, Borrower covenants that, at all times, the Additional Loans shall not exceed 70% of the Residual Inventory Value plus cash on hand, tested weekly.

  • Failure to maintain the minimum Residual Inventory Value shall be an Event of Default under the Loan Agreement, and shall entitle Lender to all default remedies under the Loan Agreement, the other Loan Documents, and applicable law.

  • SCHEDULES 2.1-A and 2.1-B include correct and complete descriptions of the Work in Process Components and Residual Inventory, respectively, and the associated Book Values.

Related to Residual Inventory

  • Inventory is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above.

  • Eligible Inventory means and include Inventory of a Borrower, excluding work in process, valued at the lower of cost or market value, determined on a first-in-first-out basis, which is not, in Administrative Agent’s Permitted Discretion, obsolete, slow moving or unmerchantable and which Administrative Agent, in its Permitted Discretion, shall not deem ineligible Inventory, based on such considerations as Administrative Agent may from time to time deem appropriate including whether the Inventory is subject to a perfected, first priority security interest in favor of Administrative Agent and no other Lien (other than a Permitted Encumbrance). In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is Foreign In-Transit Inventory or in-transit within the United States; (c) is located outside the continental United States; (d) constitutes Consigned Inventory; (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Administrative Agent’s right to sell or otherwise dispose of such Inventory, unless Administrative Agent is a party to a Licensor/Administrative Agent Agreement with the Licensor under such License Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its sole discretion); (g) is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Administrative Agent a Lien Waiver Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its Permitted Discretion); or (h) or if the sale of such Inventory would result in an ineligible Receivable.

  • Residual Receipts means for each calendar year, the amount by which Gross Revenue exceeds Annual Operating Expenses.

  • Inventories means “Inventories” as defined in the Uniform System of Accounts, such as provisions in storerooms, refrigerators, pantries and kitchens, beverages in wine cellars and bars, other merchandise intended for sale, fuel, mechanical supplies, stationery, and other supplies and similar items.

  • Rental Equipment means the equipment identified on the Service Agreement and Order Schedule or otherwise notified to you in writing that we will rent to you as part of our provision of the Services and which you will return to us after expiry or termination of the Agreement, subject to the provisions of this Agreement.

  • Stored value means monetary value that is evidenced by an electronic record.

  • Major medical equipment means medical equipment which is used for the provision of medical and other health services and which costs in excess of the capital expenditure minimum, except that such term does not include medical equipment acquired by or on behalf of a clinical laboratory to provide clinical laboratory services if the clinical laboratory is independent of a physician's office and a hospital and it has been determined under Title XVIII of the Social Security Act to meet the requirements of paragraphs (10) and (11) of Section 1861(s) of such Act. In determining whether medical equipment has a value in excess of the capital expenditure minimum, the value of studies, surveys, designs, plans, working drawings, specifications, and other activities essential to the acquisition of such equipment shall be included.

  • Capital Equipment means machinery and equipment purchased or leased, and used in this state by the purchaser or lessee primarily for manufacturing, fabricating, mining, or refining tangible personal property to be sold ultimately at retail if the machinery and equipment are essential to the integrated production process of manufacturing, fabricating, mining, or refining. Capital equipment also includes machinery and equipment used primarily to electronically transmit results retrieved by a customer of an online computerized data retrieval system.

  • Purchased Equipment means any equipment, including any Software, sold by BT to the Customer.