Commingled Goods Sample Clauses

Commingled Goods. If Collateral subsequently becomes part of a product or mass to which the security interest of another secured party attaches, then the Security shall continue in such product or mass and extend to all Accounts, Replacements or Proceeds arising from any dealing with such product or mass, ranking in priority to those Liens of any other person holding a Lien upon such product or mass. The Company shall not grant or permit to subsist any Lien in favour of any other creditor in goods that become part of any such product or mass, unless that creditor first agrees to the subordination of its interest to that of the Collateral Agent in all Accounts, Replacements and Proceeds arising from dealings with such product or mass, and the Company shall use commercially reasonable best efforts to obtain the consent of each existing such creditor to the rights granted to the Collateral Agent in this Section 2.13.
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Commingled Goods. If any Collateral subsequently becomes part of a product or mass to which the security interest of another secured party attaches, "the cost of the total product or mass" within the meaning of Section 37 of the PPSA shall not exceed the sum of the cost of such Collateral and the cost of all other goods forming part of such product or mass in which other secured parties have a security interest. The Security Interests shall extend to all Accounts, Replacements or Proceeds arising from any dealing with such product or mass, ranking in priority to those of any other Person holding a Lien upon such product or mass.
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Commingled Goods. If the Collateral subsequently becomes part of a product or mass to which the security interest of another secured party attaches, the Security Interest will extend to all accounts, Replacements, or proceeds arising from any dealing with such product or mass.
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Commingled Goods. If Collateral Property subsequently becomes part of a product or mass to which the security interest of another secured party attaches, “the cost of the total product or mass” within the meaning of section 37 of the PPSA shall not exceed the sum of the cost of such Collateral Property and the cost of all other goods forming part of such product or mass in which other secured parties have a security interest. Notwithstanding any limitation imposed by the PPSA on the Security in such product or mass and subject to any Permitted Encumbrances, the Security shall extend to all Accounts, Replacements or Proceeds arising from any dealing with such product or mass, ranking in priority to those of any other person holding an Encumbrance upon such product or mass. The DM_MTL/017234.00001/2987689.3 - 9 - Corporation shall not grant or permit to subsist any Encumbrance (other than a Permitted Encumbrance) in favour of any other creditor unless that creditor first agrees to the subordination of its Encumbrance to that of the Lender in all Accounts, Replacements and Proceeds arising from dealings with a product or mass, and the Corporation shall use commercially reasonable efforts to obtain the consent of each existing secured creditor to the rights granted to the Lender in this Section 3.10.
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Commingled Goods. D. UNCITRAL Comparison . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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Commingled Goods. (UCC §9-336) As noted above, Commingled Goods, unlike Accessions, are goods which are combined with other goods in such a way that their identity is lost in a product or mass. An example is ball bearings. In the first instance, a security interest does not exist in commingled goods even though a security interest can attach to the mass or the product that results when goods become commingled. If a security interest is obtained and attaches to goods which become commingled, the security interest attaches to the mass or product to which the collateral becomes commingled. An example of the latter is bread flour which becomes part of a loaf of bread. Similarly, if a security interest is perfected in goods which become commingled, then the security interest is perfected in the mass or product to which the collateral becomes commingled. As to priority of competing security interests, a security interest perfected in goods before they commingle has priority over a security interest unperfected at the time the collateral becomes commingled. If more than one security interest is perfected before the collateral becomes commingled, then the security interests rank equal in proportion to the amount of debt secured to the value of the collateral at the time of commingling. Except for these special rules, priority is determined by the perfection rules of Article 9.
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Related to Commingled Goods

  • Returned Goods The Security Interest in the Inventory shall, without further act, attach to the cash and non-cash proceeds resulting from the sale or other disposition thereof and to all Inventory which is returned to the Borrower by customers or is otherwise recovered.

  • Inventory To the extent Inventory held for sale or lease has been produced by any Borrower, it has been and will be produced by such Borrower in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder.

  • Goods For purposes of the Contract, all things which are movable at the time that the Contract is effective and which include, without limiting this definition, supplies, materials and equipment, as specified in the Invitation to Bid and set forth in Exhibit A.

  • Consignment Inventory that is placed on consignment;

  • Inventories The Operator shall maintain detailed records of Controllable Material.

  • Eligible Inventory As to each item of Inventory that is identified by any Borrower as Eligible 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 Agent-discretionary criteria) set forth in the definition of Eligible Inventory.

  • Consignments Consign any Inventory or sell any Inventory on xxxx and hold, sale or return, sale on approval, or other conditional terms of sale.

  • Accounts and Inventory Each Account or item of Inventory which Borrower shall, expressly or by implication, request Lender to classify as an Eligible Account or as Eligible Inventory, respectively, shall, as of the time when such request is made, conform in all respects to the requirements of such classification as set forth in the respective definitions of "Eligible Account" and "

  • Accounts Receivable; Inventories The accounts receivable of Seller reflected in the Unaudited Financial Statements and the accounts receivable aging report set forth in Schedule 5.21, as well as such additional accounts receivable as are reflected on the books of Seller on the date hereof, are (except to the extent reserved in accordance with GAAP) valid, genuine and subsisting, arise out of bona fide sales and deliveries of goods, performance of services or other business transactions and to Seller's Knowledge, are not subject to defenses, deductions, set-offs or counterclaims. The inventories reflected on the Unaudited Financial Statements and held by Seller on the date hereof, net of reserves therefor in accordance with GAAP, are usable or saleable in the ordinary course of Business. Such inventories have been reflected on the Unaudited Financial Statements at the lower of cost or market value (taking into account the usability or salability thereof) in accordance with GAAP. None of such inventories have been written up in value or repurchased by, or returned to, Seller at an increased value. All such inventories are owned free and clear and are not subject to any Lien except to the extent reserved against or reflected in the Financial Statements. Since the Financial Statement Date, inventories of raw materials, supplies and products have been purchased by Seller in the ordinary course of the Business, consistent with anticipated seasonal requirements, and the volumes of purchases thereof and orders therefor have not been reduced or otherwise changed in anticipation of the transactions contemplated by this Agreement. Except as set forth in Schedule 5.21 hereto, Seller does not have any Knowledge of any conditions affecting the supply of materials or products available to Seller and, to the Knowledge of Seller, the consummation of the transactions contemplated hereby will not adversely affect any such supply.

  • Returned Inventory If an Account Debtor has an authorized return and returns any Inventory covered by such return to such Grantor when no Event of Default exists, then such Grantor shall promptly determine the reason for such return and shall issue a credit memorandum to the Account Debtor in the appropriate amount. Such Grantor shall deliver a monthly report to the Administrative Agent setting forth all such returns involving an amount in excess of $10,000,000. Each such report shall indicate the reasons for the returns and the locations and condition of the returned Inventory. In the event any Account Debtor returns Inventory to such Grantor when an Event of Default exists, such Grantor, upon the request of the Administrative Agent, shall: (i) hold the returned Inventory in trust for the Administrative Agent; (ii) dispose of the returned Inventory solely according to the Administrative Agent’s written instructions; and (iii) not issue any credits or allowances with respect thereto in an amount exceeding $500,000 in the aggregate during any Fiscal Month without the Administrative Agent’s prior written consent. All returned Inventory shall be subject to the Administrative Agent’s Liens thereon. Whenever any Inventory is returned, the related Account shall be deemed ineligible to the extent of the amount owing by the Account Debtor with respect to such returned Inventory and such returned Inventory shall not be Eligible Inventory unless such Inventory constitutes Third Party Logistics Goods.

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