Work in Process Inventory definition

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

• 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”.

• Not more than five (5) days after Closing, Avionics shall provide Purchaser with a final statement (the "Final Statement") separately specifying, in reasonable detail, the final value of the Avionics Raw Material Inventory, Work in Process Inventory, and Finished Goods Inventory , which will constitute the "Final Statement Valuation" and will reflect all changes to the Closing Statement from the date of the Closing Statement to the Avionics Closing Date.

• 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.

• Effective as of November 1, 1998, paragraph 2 of the Fourth Amendment was deleted and the following was substituted in its place: Availability: At no time shall the outstanding balance of the Revolving L/C Loan exceed the lesser of (1) the Loan Maximum, or (2) the sum of (a) 85% of Eligible Accounts Receivable plus (b) the lesser of (i) $6,000,000, or (ii) 50% of the Work in Process 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 xxxxx pads at the Mine but have not yet become Finished Product Inventory; and

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 Eligible Inventory that is neither raw materials nor first-quality finished goods.

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

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

Work in Process Inventory means all of Seller's work-in-process inventory, including sweepings at the Acquired Factories.