Eligible Parts Inventory Sample Clauses

Eligible Parts Inventory. (a) Book value of parts inventory $
Sample 1
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Eligible Parts Inventory. All of the Parts Inventory (other than Ineligible Parts Inventory) owned by any Borrower and reflected in the most recent Borrowing Base Certificate delivered by Parent Borrower to Agent shall be “Eligible Parts Inventory” for purposes of this Agreement. Agent shall have the right to establish, modify, or eliminate Reserves against Eligible Parts Inventory from time to time in its Permitted Discretion. In addition Agent reserves the right, at any time and from time to time after the Closing Date, to adjust any of the criteria set forth below, to establish new criteria and to adjust advance rates with respect to Eligible Parts Inventory in its Permitted Discretion, subject to the approval of Supermajority Lenders in the case of adjustments or new criteria or changes in advance rates which have the effect of making more credit available. Eligible Parts Inventory shall not include any Parts Inventory of any Borrower as to which any of the exclusionary criteria set forth below applies (“Ineligible Parts Inventory”):
Sample 1
Eligible Parts Inventory. All of the Parts Inventory (other than Ineligible Parts Inventory) owned by Borrower or any Eligible Credit Party and reflected in the most recent Borrowing Base Certificate delivered by Borrower to Agent shall be “Eligible Parts Inventory” for purposes of this Agreement. Agent shall have the right to establish, modify, or eliminate Reserves against Eligible Parts Inventory from time to time in its reasonable credit judgment exercised in good faith. In addition, Agent reserves the right, at any time and from time to time after the Amendment and Restatement Date, to adjust any of the criteria set forth below, to establish new criteria and to adjust advance rates with respect to Eligible Parts Inventory in its reasonable credit judgment exercised in good faith, subject to the approval of Supermajority Lenders in the case of adjustments or new criteria or changes in advance rates which have the effect of making more credit available. Eligible Parts Inventory shall not include any Inventory of Borrower or any Eligible Credit Party that (any such Parts Inventory as to which any of the exclusionary criteria set forth below applies, “Ineligible Parts Inventory”):
Sample 1

Related to Eligible Parts Inventory

  • 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.

  • Spare Parts Contractor shall be responsible for obtaining vendor recommendations for spare parts and delivering such recommendations and spare parts to Owner in accordance with Section 3.4 of the Agreement.

  • 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.

  • Location of Equipment and Inventory All Equipment and Inventory are (i) located at the locations indicated on Schedule 4 (ii) in transit to such locations or (iii) in transit to a third party purchaser which will become obligated on a Receivable to the Debtor upon receipt. Except for Equipment and Inventory referred to in clauses (ii) and (iii) of the preceding sentence, the Debtor has exclusive possession and control of the Inventory and Equipment.

  • As to Equipment and Inventory The Grantor hereby agrees that it shall

  • Sale of Inventory Purchaser shall purchase (or shall cause its Affiliates to purchase) the Inventory in separate transactions in accordance with the terms and conditions contained in the Supply Agreement. It is agreed and understood by and between the Parties that the Purchase Price does not include the Inventory.

  • Physical Inventory Borrower shall conduct a physical count of the Inventory at such intervals as FINOVA requests and promptly supply FINOVA with a copy of such accounts accompanied by a report of the value (calculated at the lower of cost or market value on a first in, first out basis) of the Inventory and such additional information with respect to the Inventory as FINOVA may request from time to time.

  • Equipment and Inventory With respect to any Equipment and/or Inventory of an Obligor, each such Obligor has exclusive possession and control of such Equipment and Inventory of such Obligor except for (i) Equipment leased by such Obligor as a lessee or (ii) Equipment or Inventory in transit with common carriers. No Inventory of an Obligor is held by a Person other than an Obligor pursuant to consignment, sale or return, sale on approval or similar arrangement.

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

  • Inventory and Equipment On the date hereof, the Inventory and the Equipment (other than mobile goods) are kept at the locations listed on Schedule 5.

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