In-Transit Inventory. The Parties expressly agree that In-Transit Inventory shall not be included as part of the Inventories, and Seller hereby retains all rights and obligations with respect to such In-Transit Inventory. Any loaded railcar located within the rail yard of the Ethanol Plant that has not been released to the railroad (billed) and for which no xxxx of lading has been issued shall be considered and measured as Product Inventory. A full listing of such loaded railcars shall be provided by Seller, along with a listing of railcars released to the railroad within 24 hours of the Inventory Transfer Time.
In-Transit Inventory. Inventory of a Borrower which is in the possession of a common carrier and (i) is in transit from a Foreign Vendor of a Borrower from a location outside of the continental United States or (ii) is in transit from a domestic vendor of a Borrower from a location within the continental United States, in each case to a location of a Borrower that is within the continental United States.
In-Transit Inventory. Borrower has informed Lender that it has not satisfied all of the conditions set forth in clause (i) of paragraph (d) of Schedule 1.6 to the Loan Agreement with respect to Inventory in transit outside of the United States that is currently in the Borrowing Base. At Borrower's request, Lender hereby agrees to waive satisfaction of such conditions until November 7, 1997. The failure to satisfy such conditions by November 7, 1997 shall constitute and Event of Default; provided, that Lender reserves it right to establish reserves with respect to such Inventory in transit in accordance with Section 1.6 of the Loan Agreement.
In-Transit Inventory. Hardware and/or Software and/or Accessories subject to a Repurchase Agreement which, at the time of determination of the Borrowing Base, is new and unused In Transit Inventory: Up to 100% of the value of such Class of Inventory. SCHEDULE 2.9 INTEREST PROVISIONS Interest will accrue on Inventory Loans at the rate of the Prime Rate, in effect from time to time (such applicable rate defined as the "PRE-DEFAULT INVENTORY LOAN RATE"). Interest will be calculated for the actual number of days elapsed on the basis of a year consisting of 360 days. Upon a Default and for so long as such Default continues, such interest shall accrue at a rate equal to the lesser of four percent (4.0%) above the Pre-Default Inventory Loan Rate or the highest rate allowed by applicable law (the "INVENTORY LOAN DEFAULT RATE") and shall be payable upon demand. TCFC may provide for the payment of any unpaid accrued interest by charging the Loan Accounts. In the case of any Inventory Loan with respect to which a Free Floor period applies, interest at the Pre-Default Inventory Loan Rate on each such Inventory Loan will commence on the day following the last day of the Free Floor Period or after the Start Date. Dealer acknowledges that the Free Floor Period, if any, is determined by the Participating Seller in its sole discretion and can change at any time. All Working Capital Loans shall bear interest at an annual rate of equal to the Prime Rate, in effect from time to time, as more fully set forth in Section 2.9 (a) of the Agreement. SCHEDULE 2.10 FEES AND CHARGES MENU WIRE TRANSFER FEE:
In-Transit Inventory. All In-Transit Inventory of each Borrower Party (other than In-Transit Inventory not in excess of $6,000,000 in the aggregate at any one time) shall be the subject of a xxxx of lading or a cargo receipt that (A)(x) in the case of a negotiable xxxx of lading or negotiable cargo receipt, is consigned to the Administrative Agent and/or the Issuing Bank (either directly or by means of endorsement) or (y) in the case of a non-negotiable xxxx of lading or non-negotiable cargo receipt, is consigned to the Administrative Agent and/or the Issuing Bank (either directly or by means of endorsements) or to a Borrower Party if such xxxx of lading or cargo receipt shall state "[Name of applicable Borrower Party], subject to the security interest of SunTrust Bank, as agent, 000 Xxxxxxxxx Xxxxxx, X.X., Xxxxxxx, Xxxxxxx 00000" thereon, (B) was issued by the carrier respecting the subject In-Transit Inventory, and (C) is in the physical possession of an Approved Freight Handler or, if applicable, an Issuing Bank. Upon the request of the Administrative Agent, the Borrower Parties shall promptly deliver to the Administrative Agent copies of all such bills of lading or cargo receipts.
In-Transit Inventory. With respect to any Inventory that is in-transit to the United States and that is backed by a documentary Letter of Credit issued by Bank, Borrowers shall ensure that (a) it is shipped FOB shipping point, (b) all documents issued by the shipper or bailee thereof are negotiable and issued in the name of Borrower or Bank or Agent (as directed by Agent) and are delivered to Bank, (c) a bailment agreement, in form and content satisfactory in all respects to Agent, has been duly executed and delivered to Agent by each carrier, freight forwarder or customs agent with respect to such Inventory, or documents of title covering such Inventory, and (d) it is insured by marine insurance acceptable to Agent, with Agent shown as sole loss payee thereon, against loss, damage or theft.
In-Transit Inventory. Credit Parties shall take all actions necessary to cause title to all Inventory purchased outside the United States to transfer to Credit Parties at the location from which such Inventory is shipped, and shall take all actions necessary, or requested by Collateral Agent, to grant and to perfect a First Priority Lien in favor of Collateral Agent, for the benefit of Secured Parties, in all such Inventory commencing on the date such Inventory is shipped to Credit Parties. Without limiting the foregoing, all negotiable bills of lading shall be consigned to the order of Silver Point Finance, LLC.
In-Transit Inventory. On the Restatement Date, substantially none of Borrowers’ Inventory consists of Inventory in-transit from any other country to the United States.
In-Transit Inventory. With each request for a Revolving Loan and in all events at least one time every seven day period, an In-Transit Inventory report in form and substance reasonably acceptable to Lender, together with copies of the documents called for in subpart (d) of the definition of Eligible In-Transit Inventory.
In-Transit Inventory. At Closing Sellers shall provide Schedule 1.5 listing all outstanding contracts for the purchase of In Transit Customer Inventory. Empresas and Manufacturera shall be entitled to all payments made on or after the Closing by purchasers of In Transit Customer Inventory. After the Closing, Empresas and Manufacturera shall make deliveries of such inventory to the purchasers thereof in accordance with customary practices.
