Work in Process definition

Work in Process means a Deliverable that has been partially prepared, but has not been presented to the State for Approval.

Work in Process means Inventory that is not a product that is finished and approved by a Borrower in accordance with applicable Laws and such Borrower’s normal business practices for release and delivery to customers.

Work in Process means Inventory which consists of work-in-process including, without limitation, materials other than Raw Materials, Finished Goods or saleable products, title to which and sole ownership of which is vested in a Loan Party.

Examples of Work in Process in a sentence

• MKS is expected to monitor, track, and report their Work-In-Process ("WIP") inventory (dollars).

• Arrow shall use commercially reasonable efforts to assist Acquisition Sub in the collection of the Dagger Receivables and all amounts receivable on account of the Dagger Work-In-Process after the Closing to the extent requested by Acquisition Sub to do so.

• Additionally, once product has entered the Work-In-Process stage it shall be considered non-cancelable and non-returnable.

• Work-In-Process inventory, including without duplication raw materials in process.

• As to each item of Inventory that is identified by Borrowers as Eligible Finished Goods Inventory, Eligible Raw Material Inventory, or Eligible Work-In-Process 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.

More Definitions of Work in Process

Work in Process as used in this document, means material that has been released to manufacturing, engineering, design or other services under the subcontract and includes undelivered manufactured parts, assemblies, and products, either complete or incomplete.

Work in Process means all unfinished ethanol (or ethanol by-products) still involved in the production process and located in fermentation devices, distillation devices, tanks, piping or elsewhere within either Ethanol Plant, as well as all grains and grain products involved in the production process (i.e., not yet ready for sale as dry, modified or wet distillers grains, corn oil or otherwise) and located anywhere within either Ethanol Plant.

Work in Process means Adaptec's inventory of partially completed Products consistent with Roxio's outstanding Service Orders.

Work in Process means, with respect to a Product, all Materials that Emergent has begun to Manufacture into the relevant finished Product, but which have not yet satisfied the Specifications.

Work in Process means goods to be sold by a Person in the normal course of business, which are at the time of determination in the process of being manufactured by such Person and which, as of the date of determination, is shown on the perpetual inventory records or equivalent reporting in accordance with such Person’s historical classification as work-in-process. Work-in-Process shall not include goods covered by Eligible Unbilled Accounts Receivable.

Work in Process means Inventory used or consumed in the manufacturing or processing of goods to be sold by the Borrower or another Grantor in the ordinary course of business consisting of parts and subassemblies in the process of becoming completed assembly components that are no longer included in Raw Materials but are not yet included in Finished Goods.

Work in Process means, with respect to any Product, Materials and Active Ingredient from the time of pre-weighing for allocation to a manufacturing lot until satisfactory completion of quality testing for such manufacturing lot.