Eligible In-Transit Inventory. Inventory owned by a Borrower that would be Eligible Inventory if it were not subject to a Document and in transit from a foreign location to a location of such Borrower within the United States, and that is (a) is subject to a negotiable Document showing Agent (or, with the consent of Agent, the applicable Borrower) as consignee, which Document is in the possession of Agent or such other Person as Agent shall approve; (b) is fully insured in a manner reasonably satisfactory to Agent; (c) is not sold by a vendor that has a right to reclaim, divert shipment of, repossess, stop delivery, claim any reservation of title or otherwise assert Lien rights against the Inventory, or with respect to whom any Borrower is in default of any obligations; (d) is subject to purchase orders and other sale documentation satisfactory to Agent, and title has passed to such Borrower; (e) is shipped by a common carrier that is not affiliated with the vendor and is not subject to Sanctions or any specially designated nationals list maintained by OFAC; and (f) is being handled by a customs broker, freight-forwarder or other handler that has delivered a Lien Waiver. Notwithstanding the foregoing, no Inventory shall be Eligible In-Transit Inventory if it is deemed by Agent, in its Reasonable Credit Judgment, not to be Eligible In-Transit Inventory; provided that Agent shall give Borrowers prior written notice setting forth the reasons for not treating such Inventory as Eligible In-Transit Inventory and Agent shall be available to discuss such rationale with Borrower Agent.
Eligible In-Transit Inventory. Eligible In-Transit Inventory" shall mean all of the In-Transit Inventory owned by the Borrower and reflected on Borrower's monthly general ledger as In-Transit Inventory and reflected in the most recent Borrowing Base Certificate as part of Eligible Inventory-Apparel and Eligible Inventory-Luggage delivered by Borrower to Agent, except any In-Transit Inventory to which any of the exclusionary criteria set forth below applies. Eligible In-Transit Inventory shall not include any finished goods:
Eligible In-Transit Inventory. All of the in-transit Inventory owned by each Credit Party and properly reflected as “Eligible In-Transit Inventory” in the most recent Borrowing Base Certificate delivered by the Borrower to Agent shall be “Eligible In-Transit Inventory” for purposes of this Agreement. Agent, at the direction of the Required Lenders, shall have the right to establish, modify, or eliminate Reserves against Eligible In-Transit Inventory from time to time in the Required Lenders’ Permitted Discretion. “Eligible In-Transit Inventory” means, as of any date of determination, without duplication of other Eligible Inventory, Inventory:
Eligible In-Transit Inventory. With respect to Eligible In-Transit Inventory, the Borrowers are in compliance with the terms and conditions of the Revolving Credit Agreement as they relate to Eligible In-Transit Inventory.
Eligible In-Transit Inventory. The Loan Parties, the Agents, and the Lenders hereby acknowledge and agree that, notwithstanding any provision of the Credit Agreement to the contrary, until such time as the Agent has completed its due diligence with respect to the Eligible In-Transit Inventory, no Eligible In-Transit Inventory shall be included in the Borrowing Base.
Eligible In-Transit Inventory. “Eligible In-Transit Inventory-Retail” shall mean all of the In-Transit Inventory owned by the Borrower and reflected on Borrower’s monthly general ledger as In-Transit Inventory-Retail and reflected in the most recent Borrowing Base Certificate as part of Eligible Inventory-Apparel and delivered by Borrower to Agent, except any In-Transit Inventory-Retail to which any of the exclusionary criteria set forth below applies. “Eligible In-Transit Inventory-Wholesale” shall mean all of the In-Transit Inventory owned by the Borrower or the Wholesale Subsidiary and reflected on Borrower’s or Wholesale Subsidiary’s monthly general ledger as In-Transit Inventory-Wholesale and reflected in the most recent Borrowing Base Certificate as part of Eligible Inventory-Wholesale and delivered by Borrower to Agent, except any In-Transit Inventory-Wholesale to which any of the exclusionary criteria set forth below applies. Eligible In-Transit Inventory-Retail and Eligible In-Transit Inventory-Wholesale shall not include any finished goods:
Eligible In-Transit Inventory. The definition of “Eligible In-Transit Inventory” as set forth in Section 1.32 of the Loan Agreement is hereby amended and restated in its entirety as follows:
Eligible In-Transit Inventory. Section 1.1 of the Loan Agreement is hereby amended by the insertion therein of the following term in the appropriate alphabetical sequence:
Eligible In-Transit Inventory. The amount “One Million Dollars ($1,000,000)” in clause (m) of the definition of “Eligible Inventory” in Section 1.25 of the Loan Agreement (as amended by the Second Amendment to Loan and Security Agreement dated as of December 30, 2004) is hereby replaced with “Three Million Dollars ($3,000,000)”.
Eligible In-Transit Inventory. With respect to Eligible In-Transit Inventory,
